Housing market cooled northeastern Ont. in 2023
Home sales in some major markets in northeastern Ontario fell sharply last year, according to the Ontario Real Estate Association.
The biggest drop was in Timmins, where sales were down 32.8 per cent compared to December 2022.
“Home sales were 44.4 per cent below the five-year average and 36.6 per cent below the 10-year average for the month of December,” the CREA said in a news release.
“On an annual basis, home sales totaled 1,172 units over the course of 2023. This was down by 26.1 per cent from 2022.”
The average price of homes sold in December 2023 was $250,988, a decrease of 8.3 per cent from a year earlier.
“The number of new listings fell sharply by 35.4 per cent from December 2022,” the CREA said.
“There were 53 new residential listings in December 2023. This was the lowest number of new listings added in the month of December in more than 15 years.”
In North Bay, home sales for December 2023 actually rose by four compared to 2022, but sales were still 29.5 per cent below the five-year average.
“On an annual basis, home sales totaled 1,013 units over the course of 2023,” the news release said.
“This was down sharply by 11 per cent from 2022.”
The average price of homes sold in December 2023 was $401,168, an increase of 18.7 per cent from December 2022. The more comprehensive annual average price was $434,617, a moderate decrease of 5.9 per cent from all of 2022.
- Download our app to get local alerts on your device
- Get the latest local updates right to your inbox
In Sudbury, meanwhile, home sales were down 6.5 per cent compared to December 2022, and overall sales were down 27.4 per cent compared to the five-year average. A total of 2,306 units were sold in 2023, a decrease of 18.9 per cent from 2022.
“The average price of homes sold in December 2023 was $444,418, a sizable gain of 19.3 per cent from December 2022,” the CREA said.
“The more comprehensive annual average price was $457,490, decreasing by 1.7 per cent from all of 2022.”
Statistics for Sault Ste. Marie have not been updated since September.
CTVNews.ca Top Stories
BREAKING Guilty: Trump becomes first former U.S. president convicted of felony crimes
Donald Trump became the first former American president to be convicted of felony crimes Thursday as a New York jury found him guilty of all 34 charges in a scheme to illegally influence the 2016 election through a hush money payment to a porn actor who said the two had sex.
Can Trump come to Canada now that he's a convicted felon?
A Canadian immigration lawyer says now that Donald Trump is a convicted felon, he is technically barred from crossing the border into Canada.
Montreal tech billionaire charged with several sex offences
Robert Miller was charged Thursday with several sexual assault charges after Montreal police reopened an investigation into the tech billionaire.
A pair enjoyed pricey meals and bolted when it was time to pay. Their dine and dash ended in jail
A Welsh couple who dined out on pricey meals and bolted when the bill came is now paying the price, behind bars.
Aurora borealis returning to night skies across Canada this Friday: NOAA
If you missed the brilliant displays of the aurora borealis over North America on May 10, you may have another chance to see them on Friday night.
Shell investigating a 'potential cybersecurity incident'
Oil and gas giant Shell says it is investigating a possible cybersecurity 'incident.'
Doug Ford suggests immigrants behind Jewish school shooting
Ontario Premier Doug Ford suggested immigrants are to blame for the shooting of an empty Jewish school in Toronto over the weekend, despite police saying they have little information on the suspects.
NDP wants Liberals to scrap proposed election date change that could secure pensions for many MPs
The federal New Democrats want to amend the Liberal government's electoral reform legislation to scrap the proposal to push back the vote by a week and consequently secure pensions for dozens of MPs, CTV News has learned.
'I didn't think it was real': Oilers fans score free Game 4 tickets from stranger
There's always something to be happy about when the Edmonton Oilers are making good strides in the playoffs, but this is especially true for two lucky fans who were able to enjoy the sights and sounds of Game 4 — for free.