Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 37 units in January 2026. This was down by 5.1% (two sales) from the same period in 2025.

Single detached home sales were 5.1% below the five-year average and 19.4% below the 10-year average for the month of January.

“MLS® home sales across the entire board eased from December in a typical seasonal pullback, slipping below 100 for the first time since January 2025. The number of newly listed properties was also lower than a year ago, but rebounded after a predictable December slowdown,” said Karen Hill, President of the Thunder Bay Real Estate Board. “On the inventory side active listings continued to tighten, falling again from last year and for a fourth consecutive month. This places overall inventory below the long-term norm for the month. The average sale price was higher than at this time last year but dipped to its lowest monthly level since February 2025. That said, it appears to reflect the mix of homes that have been selling rather than a fundamental shift in market conditions. With interest rates appearing to have bottomed for now and the spring market not too far off, we’re heading into 2026 with cautious optimism.”

The median sale price for single detached homes sold in January 2026 was $410,000, a sizable gain of 13.6% from January 2025.

Single detached properties spent less time on the market before selling in January 2026 than they had a year earlier. The median number of days on market for single detached home sales was 18 in January 2026, down from the 21 days recorded in January 2025.

The dollar value of all single detached home sales in January 2026 was $15.5 million, a gain of 14.7% from the same month in 2025. This was also a new record for the month of January.