Timmins, Cochrane & Timiskaming Districts MLS® home sales remain stable in October
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 112 units in October 2024. This was up by 9.8% (10 sales) from October 2023.
Home sales were 12.5% below the five-year average and 1% below the 10-year average for the month of October.
On a year-to-date basis, home sales totaled 1,021 units over the first 10 months of the year. This was a minor increase of 3.7% from the same period in 2023.
The average price of homes sold in October 2024 was $287,304, a small gain of 3.2% from October 2023.
The more comprehensive year-to-date average price was $291,537, increasing by 10.5% from the first 10 months of 2023.
The dollar value of all home sales in October 2024 was $32.2 million, a gain of 13.3% from the same month in 2023.
The number of new listings was up by 4% (five listings) from October 2023. There were 131 new residential listings in October 2024.
New listings were 2% above the five-year average and 7.7% below the 10-year average for the month of October.
Active residential listings numbered 402 units on the market at the end of October, an increase of 9.5% from the end of October 2023.
Active listings were 16.9% above the five-year average and 31.7% below the 10-year average for the month of October.
Months of inventory numbered 3.6 at the end of October 2024, unchanged from the 3.6 months recorded at the end of October 2023 and below the long-run average of 5.7 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
