Weaker demand for MLS® listed homes in Timmins, Cochrane & Timiskaming Districts during November
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 79 units in November 2024. This decreased by 1.2% (one sale) from November 2023.
Home sales were 25.9% below the five-year average and 18.8% below the 10-year average for the month of November.
On a year-to-date basis, home sales totaled 1,149 units over the first 11 months of the year, up only 0.7% (eight sales) from the same period in 2023.
The average price of homes sold in November 2024 was $282,447, up by 13.6% from November 2023.
The more comprehensive year-to-date average price was $288,982, an increase of 10.4% from the first 11 months of 2023.
The dollar value of all home sales in November 2024 was $22.3 million, a gain of 12.2% from the same month in 2023.
The number of new listings decreased by 1.7% (two listings) from November 2023. There were 114 new residential listings in November 2024. This was the lowest number of new listings added in the month of November in 15 years.
New listings were 9.4% below the five-year average and 17.5% below the 10-year average for the month of November.
Active residential listings numbered 386 units on the market at the end of November, a gain of 4.9% from the end of November 2023.
Active listings were 10.7% above the five-year average and 34.9% below the 10-year average for the month of November.
Months of inventory numbered 4.9 at the end of November 2024, up from the 4.6 months recorded at the end of November 2023 and below the long-run average of 6.7 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.
BOARD & ASSOCIATION INFORMATION
The Timmins, Cochrane & Timiskaming Districts Association of REALTORS® is an Association of 120 REALTORS® that provides services to and sets standards for members and offers professional support and a local Multiple Listing Service®. The Association’s region covers the most northerly Ontario border to the north boundary of Temagami in the south. West to east the Board’s boundary goes from the Pagwa River to the Quebec border. The Association area includes such towns and cities as Hearst, Kapuskasing, Smooth Rock Falls, Cochrane, Iroquois Falls, Matheson, Timmins, Kirkland Lake, Englehart, Earlton, New Liskeard, Haileybury and Cobalt. Listings can also be viewed on the national www.REALTOR.ca web site (residential, commercial and investment properties).
THE TIMMINS, COCHRANE & TIMISKAMING DISTRICTS ASSOCIATION OF REALTORS®
For more information,
please contact:
Anne Marie Vaillancourt
Executive Officer
(705) 268-5451
eo@tctdar.ca
Gord Cowie
