Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 136 units in July 2025. This was an increase of 28.3% from the same period in 2024. Single detached home sales haven’t hit this level in the month of July in more than a decade.

Single detached home sales were 21.2% above the five-year average and 17.4% above the 10-year average for the month of July.

On a year-to-date basis, single detached home sales totaled 575 units over the first seven months of the year, a moderate gain of 9.5% from the same period in 2024.

“There is no shortage of standout numbers in this month’s stats. Sales across the entire board reached 301, marking the first time there have been at least 300 sales in any given month. In addition to this significant milestone, we saw our sixth consecutive month-over-month gain, hit the highest July total on record, and posted the highest single-month sales total in history,” said Spencer Smith, President of the Thunder Bay Real Estate Board. “New listings dipped marginally from June; however, the number of newly listed homes was up slightly from July 2024 and outperformed the historical norm for the month. Average price held above $400K for the third consecutive month, posting the second highest monthly average ever recorded. All signs point to a market still firmly in favour of sellers, and there is no indication that this may change anytime soon.”

The median sale price for single detached homes sold in July 2025 was a record $410,850, increasing by 17.4% from July 2024.

The more comprehensive year-to-date median price was $394,000, a gain of 12.6% from the first seven months of 2024.

Single detached properties spent less time on the market before selling in July 2025 than they had a year earlier. The median number of days on market for single detached home sales was 15 in July 2025, down from the 16 days recorded in July 2024.

The dollar value of all single detached home sales in July 2025 was $58 million, up sharply by 44.5% from the same month in 2024. This was a new record for the month of July and was also the largest dollar value of homes sold for any month in history.