Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 74 units in May 2026. This was a sharp decrease of 37.8% from the same period in 2025.

Single detached home sales were 19.7% below the five-year average and 26.3% below the 10-year average for the month of May.

On a year-to-date basis, single detached home sales totaled 285 units over the first five months of the year. This was down by 11.8% from the same period in 2025.

“Across the entire board sales continued to improve in May, rising for the third straight month. However, activity was sharply lower than May 2025, posting the weakest May since 2020. New listings also moved higher, climbing above 300 newly listed properties for the first time since summer 2025. Even so, supply remained well below what we would typically expect for this month,” said Karen Hill, President of the Thunder Bay Real Estate Board. “With new listings outpacing sales by a wide margin, overall inventory increased to just under 500 available homes at the end of the month, the highest level since late last summer. Average prices were virtually unchanged year over year and remained relatively stable compared to April. In a market like this, trusted local REALTORS® play an important role by providing tailored advice, helping buyers identify value, and helping sellers make informed choices based on current local conditions.”

The median sale price for single detached homes sold in May 2026 was $409,000, a minor increase of 2.3% from May 2025.

The more comprehensive year-to-date median price was $406,000, a moderate gain of 8.3% from the first five months of 2025.

Single detached properties spent more time on the market before selling in May 2026 than they had a year earlier. The median number of days on market for single detached home sales was 14 in May 2026, up from the 13 days recorded in May 2025.

The dollar value of all single detached home sales in May 2026 was $33 million, a substantial reduction of 40.1% from the same month in 2025.