North Bay and Area REALTORS® Association

The number of homes sold through the MLS® System of the North Bay and Area REALTORS® Association totaled 115 units in May 2026. This was a decrease of 7.3% (nine sales) from May 2025.

Home sales were 13.8% below the five-year average and 24.1% below the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 411 units over the first five months of the year. This was a small gain of 1.2% (five sales) from the same period in 2025.

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $418,500 in May 2026, essentially unchanged, down just 0.5% compared to May 2025.

The average price of homes sold in May 2026 was $508,435, decreasing by 2.6% from May 2025.

The more comprehensive year-to-date average price was $503,733, a modest gain of 3.5% from the first five months of 2025.

The dollar value of all home sales in May 2026 was $58.5 million, down by 9.6% from the same month in 2025.

The number of new listings saw a minor decrease of 1.1% (three listings) from May 2025. There were 273 new residential listings in May 2026.

New listings were 8.2% above the five-year average and 9.3% above the 10-year average for the month of May.

Active residential listings numbered 395 units on the market at the end of May, a sizable gain of 13.5% from the end of May 2025. Active listings haven’t been this high in the month of May in more than five years.

Active listings were 32.3% above the five-year average and 11.2% above the 10-year average for the month of May.

Months of inventory numbered 3.4 at the end of May 2026, up from the 2.8 months recorded at the end of May 2025 and above the long-run average of 2.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.