The Sudbury Real Estate Board says there has been a significant decrease in the number of homes sold in the city last month compared to the same time in 2021.

Total home sales were 327 in June, down 15.3 percent compared to June of last year.

Overall, home sales were 1.9 percent lower than the five-year average but still 8.2 percent higher than the 10-year average for June.

The board said in a post on its website: "On a year-to-date basis, total home sales were 1,613 units during the first six months of the year." "This was a significant decrease of 14.7 percent from the same period in 2021."

Housing prices are also declining, although they remain much higher than they were a year ago.

The average sale price for a single-family home was $458,727, down more than $500,000 from the average earlier this year, but up 10.9 percent from the same time last year.

Compared to other northern cities, home prices in Sudbury rank second after North Bay (average price $478,175 in June), followed by Sault Ste. Marie ($318,874) and Timmins ($277,231).

The dollar value of all home sales in June was $150 million, down six percent from the same month in 2021.

While demand remained strong, more supply was added. The board said the number of new listings in June rose 10.3 percent compared to last year.

The board said, "There were 555 new residential listings in June 2022, the highest number of new listings added in June in over five years."

"New listings were 10.9 percent higher than the five-year average and 7.8 percent higher than the 10-year average for the month of June."

The number of active residential units listed was 593 units on the market at the end of June, a modest increase of 3.3 percent over the end of June 2021.

Average home sale prices in June 2022 were $277,231 in Timmins (up 22.1% from 2021)

Sault Ste. Marie: $318,874 (up 11.4% from 2021)

Sudbury: $458,727 (up 10.9% from 2021)

North Bay: $478,175 (up 13.8% from 2021)