When comparing the housing market in Thunder Bay for July 2021 to July 2022, there’s barely a difference. Two sales to be exact.

However, if you look at single detached home sales they were below the five year average by seven per cent, and more than 10 per cent below a decades long average for the month of July.

In July of 2020, the housing market was booming as it was a very strong “seller’s” market. Looking at a year-to-date comparison there were 595 single dwellings sold in 2021 by July, this took a dip by 8.5 per cent for the same time period this year.

An average home in the city was selling for $301,500 for July 2022 according to the the Canadian Real Estate Association (CREA). It’s a slight increase of 5.8 per cent from last July.

And when it comes to the length of time that a house in Thunder Bay is staying on the market has been steady when comparing it year-over-year from last July. An average 15 days was how long a singe home would be listed for.

If you look at the market nationally, houses are selling for an average price of $629,971. British Columbia takes the cake on having the most expensive homes with an average price of $915,841 compared to Canada least expensive province, New Brunswick, where homes have been selling for less than $300,000.