Sault Ste. Marie Real Estate Board

The number of homes sold through the MLS® System of the Sault Ste. Marie Real Estate Board totaled 138 units in April 2024. This was a sizable gain of 19% from April 2023.

Home sales were 6% below the five-year average and 1.3% above the 10-year average for the month of April.

On a year-to-date basis, home sales totaled 420 units over the first four months of the year. This increased by 12.9% from the same period in 2023.

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 $301,200 in April 2024, a gain of 4.4% compared to April 2023.

The average price of homes sold in April 2024 was a record $351,581, a gain of 13.4% from April 2023.

The more comprehensive year-to-date average price was $327,828, up by 12.5% from the first four months of 2023.

The dollar value of all home sales in April 2024 was $48.5 million, a significant increase of 34.9% from the same month in 2023.

The number of new listings saw a jump of 62.3% from April 2023. There were 250 new residential listings in April 2024.

New listings were 24.5% above the five-year average and 0.9% below the 10-year average for the month of April.

Active residential listings numbered 331 units on the market at the end of April, a significant gain of 30.3% from the end of April 2023.

Active listings were 31.1% above the five-year average and 36.1% below the 10-year average for the month of April.

Months of inventory numbered 2.4 at the end of April 2024, up from the 2.2 months recorded at the end of April 2023 and below the long-run average of 4.3 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.