Thunder Bay Real Estate Board

Sales of single detached homes in the City of Thunder Bay numbered 104 units in August 2026. This was a decline of 10.3% (12 sales) from the same period in 2025.

Single detached home sales were 1.4% above the five-year average and in line with the 10-year average for the month of August.

On a year-to-date basis, single detached home sales totaled 616 units over the first eight months of the year. This was a decrease of 10.9% from the same period in 2025.

“August was a steady month across our region, with board wide sales holding near recent levels and remaining above the long-term norms. New listings stayed elevated and once again outpaced sales, pushing active inventory higher for the seventh consecutive month,” said Karen Hill, President of the Thunder Bay Real Estate Board. “Prices remained relatively firm, with the MLS® HPI Composite Benchmark Price rising both from July and from August 2025, supported by gains across all housing categories. Despite growing supply market conditions continue to favour sellers for now, although we will be watching closely for any definitive signs of a structural shift in market balance.”

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 benchmark price was $345,100 in August 2026, increasing by 5.9% compared to August 2025.

The benchmark price for single-family homes was $346,800, a gain of 5.7% on a year-over-year basis in August., while the benchmark apartment price was $304,800, an increase of 9.4% from year-ago levels.

The median sale price for single detached homes sold in August 2026 was $405,819, down by 9.7% from August 2025.

The more comprehensive year-to-date median price was $415,000, a minor increase of 3.8% from the first eight months of 2025.

Single detached properties spent more time on the market before selling in August 2026 than they had a year earlier. The median number of days on market for single detached home sales was 17 in August 2026, up from the 15.5 days recorded in August 2025.

The dollar value of all single detached home sales in August 2026 was $45.7 million, a big reduction of 12.7% from the same month in 2025.