Sault Ste Marie Real Estate Board October 2021

The number of homes sold in the Sault Ste Marie Real Estate Board for October 2021 set a new record, up by 13.5% from October 2020 for a total of 185 units.

The average price of homes sold in October 2021 was up significantly to $275,786, a total increase of 26.2% from October 2020. The year-to-date average price was $267,887.

The dollar value of all home sales in October 2021 was a record-breaking $51 million, an increase of 43.3% from October 2020.

The number of homes listed for sale are the lowest in over three decades, with 195 units on the market at the end of October, a decline of 33.7% from October 2020.

At the end of October 2021, months of inventory equalled 1.1. This is down from the 1.8 months of inventory for October of last year, and well below the past typical average of 5.3 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.

Sources for information:

Canadian Real Estate Association and Sault Ste Marie Real Estate Board