Demand for MLS® listed homes in Timmins, Cochrane & Timiskaming rebounds in July
The number of homes sold through the MLS® System of the Timmins, Cochrane & Timiskaming Districts Association of REALTORS® totaled 140 units in July 2024. This increased by 9.4% (12 sales) from July 2023.
Home sales were 9.4% below the five-year average and 0.3% above the 10-year average for the month of July.
On a year-to-date basis, home sales totaled 681 units over the first seven months of the year. This was a modest decline of 1.3% (nine sales) from the same period in 2023.
The average price of homes sold in July 2024 was a record $306,780, up by 20.5% from July 2023.
The more comprehensive year-to-date average price was $291,373, an increase of 12.8% from the first seven months of 2023.
The dollar value of all home sales in July 2024 was $42.9 million, a jump of 31.8% from the same month in 2023. This was also a new record for the month of July.
The number of new listings rose 16% from July 2023. There were 217 new residential listings in July 2024.
New listings were 1.9% above the five-year average and 10.4% below the 10-year average for the month of July.
Active residential listings numbered 571 units on the market at the end of July, an advance of 41% from the end of July 2023.
Active listings were 23% above the five-year average and 25.8% below the 10-year average for the month of July.
Months of inventory numbered 4.1 at the end of July 2024, up from the 3.2 months recorded at the end of July 2023 and below the long-run average of 5.9 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
