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City in Ontario

Homes for sale in Terrace Bay

Name: HOMEH Market Pulse — Terrace Bay closed sales and leases
Creator: HOMEH
License: https://homeh.com/terms-of-use

Browse all Terrace Bay real estate listings in one place: 22 homes for sale in Terrace Bay, ON, from $15,000 to $289,900, with a median asking price of $147,400. Most are detached houses and vacant lots.

quiet community-oriented affordable

1,528 people lived in Terrace Bay at the 2021 Census, in 715 households. 78% of households owned their home and 21% rented. The most common homes were single-detached houses (87%) and low-rise apartments (10%). 80% of homes were built before 1981, and 0% since 2011. 88% of commuters went to work by car and 0% by public transit.

Population of 1,528 residents Four schools available No public transit options No rental properties currently available

Terrace Bay, Ontario

Terrace Bay MLS® Listings

Day to dayLivability

3.2

Schools near listings

out of 10 · averaged over 47 past and present listings

Fraser Institute ratings within 2 km of each listing, closer schools weighted more

Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.

What it costsAffordability

Median asking price

$147,400

79% below Ontario

In Terrace Bay

$147,400

In Ontario

$716,900

Median monthly rent

In Ontario

$2,499

On the marketMarket snapshot

For sale

Median $147,400

Houses 22

For rent

Recently sold

Recently leased

Market data as of 2026-08-16. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.

The honest readPros & cons

What people love

Affordable home prices compared to province
Good school ratings
Quiet and peaceful environment

Keep in mind

Limited amenities and parks
No rental options available
Low population density

The feel of the placeLifestyle

Daily life in Terrace Bay is calm and community-focused, ideal for those seeking tranquility.

Great for first-time buyers families retirees

Within the boundaryWhat's nearby

The boundary

778.2 km²

Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.

Parks

Playgrounds

Grocery stores

Restaurants

Cafés

Gyms

Libraries

Pharmacies

Counted across all 778.2 km² of Terrace Bay. From OpenStreetMap, as of 2026-10-12.

The schoolsWhich schools, and how they rate

3.2/10

Average rating of the 1 rated school in this area

Elementary

Secondary

Lake Superior High School
Public · Grades 9–12 · Superior-Greenstone DSB
3.2/103.6 over 5 yrs
697th of 742 Ontario secondary schools
125 students · EQAO 2024-2025
St Martin Catholic School
Catholic · Grades JK–8 · Superior North CDSB
Not rated
60 students
Terrace Bay Public School
Public · Grades JK–8 · Superior-Greenstone DSB
Not rated
60 students
École catholique Franco-Terrace
Public · French · Grades JK–8 · CSDC des Aurores boréales
Not rated

Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Terrace Bay, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.

The peopleWho lives here

1,528

Population (2021)

151.5 km²

Area

People per km²

48.4

Median age

$85,785

Median income

78%

Own their home

2.1

People per household

715

Households

Every age

Children (under 15)15.4%
Working age (15–64)60.0%
Seniors (65+)24.6%

What is built here

Detached houses86.6%
Semi-detached2.1%
Townhouses2.1%
Low-rise apartments9.9%

Own or rent

78%Owners

21%Renters

Across 715 households

When it was built

Mostly 1960 or earlier

1960 or earlier42%
1961–198038%
1981–199018%
1991–20000%
2001–20050%
2006–20100%
2011–20150%
2016–20210%

Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.

12.1%
Born outside Canada: 14.9%
Hold a degree or higher: 48.6%
Employment rate: 0%
Commute by transit: 87.8%
Commute by car: 1.7
Children per family: $74,149
Median income after tax: $90,741
Average household income: 6.9%
Living on a low income: $725/mo
Renters pay, per month: $756/mo
Owners pay, per month: $106,010
Median home value at census: 0%
Renters spending 30%+ of income on housing: 11.1%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 4 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.

Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap, HOMEH school registry, Photo: © Wikimedia Commons contributors (CC BY-SA)

HOMEH Market Pulse Through September 2026 Thin sales history — read the monthly counts

What Homes in Terrace Bay Actually Sell For

25 homes changed hands in Terrace Bay over the 12 months to September 2026. Half sold above $157,140 and half below, 2.9% higher than the 12 months before. A typical home found its buyer in 72 days — 29 days slower than a year ago.

Median sold price: $157K; +2.9% year over year
Days to sell: 72; 29 days slower
Sales closed: 25; last 12 months
Per square foot: $122; from 3 sized sales

Three years of sold prices

The line is the median. The band is the middle half of every sale — how wide it runs tells you how much one home here differs from the next.

What buyers actually paid

$932,500

on a $1,000,000 asking price — under ask by $67,500

−10%Asking price+10%

Of the asking price: 93.3%
Sold over asking: 8%

From 25 sales that closed here in the last 12 months.

Every month behind these charts — Terrace Bay, sales

Monthly closed sales in Terrace Bay
Month	Closed	Median	Middle half	Days	% of ask
Sep 2026	4	Not enough sales this month to report a median
Aug 2026	4	Not enough sales this month to report a median
Jul 2026	2	Not enough sales this month to report a median
May 2026	1	Not enough sales this month to report a median
Apr 2026	2	Not enough sales this month to report a median
Mar 2026	2	Not enough sales this month to report a median
Feb 2026	1	Not enough sales this month to report a median
Jan 2026	1	Not enough sales this month to report a median
Dec 2025	1	Not enough sales this month to report a median
Nov 2025	2	Not enough sales this month to report a median
Oct 2025	5	$79,900	$65K – $170K	25	93.0%
Sep 2025	1	Not enough sales this month to report a median
Aug 2025	4	Not enough sales this month to report a median
Jul 2025	2	Not enough sales this month to report a median
Jun 2025	2	Not enough sales this month to report a median
May 2025	4	Not enough sales this month to report a median
Apr 2025	1	Not enough sales this month to report a median
Mar 2025	2	Not enough sales this month to report a median
Feb 2025	2	Not enough sales this month to report a median
Dec 2024	1	Not enough sales this month to report a median
Nov 2024	2	Not enough sales this month to report a median
Oct 2024	3	Not enough sales this month to report a median

21 of these months closed fewer than 5 sales. A middle value taken over that few is not a market figure — with one sale it is simply that home's closing price — so the count is shown and the median is not. The sales themselves still count toward the 12-month figures above.

What people ask about Terrace Bay

How much does a home cost in Terrace Bay?

Homes in Terrace Bay sold for a median of $157,140 over the 12 months to September 2026, across 25 closed sales — half sold for more and half for less. That is 2.9% higher than the 12 months before it.

How long does it take to sell a home in Terrace Bay?

A home in Terrace Bay took a median of 72 days on the market over the 12 months to September 2026. Homes there closed at 93.3% of the asking price on average, with 8.0% selling over asking.

Compiled by HOMEH from sales reported closed in Terrace Bay on the Toronto Regional Real Estate Board MLS® System, through September 2026. Medians are taken over closed prices, not asking prices. Per-square-foot figures use the midpoint of the banded floor-area range MLS® carries, so they describe the group and not any one home. Not an appraisal or an opinion of value.

Questions, answered

Common questions about homes for sale in Terrace Bay

How many homes are for sale in Terrace Bay, ON right now?

22 homes are for sale in Terrace Bay on MLS® right now. The busiest neighbourhood is TB-92, with 22 homes for sale.

Homes for sale in TB-92

What is the average house price in Terrace Bay?

The median asking price of the 22 homes for sale in Terrace Bay is $147,400: half are listed above it and half below. By type, the median is $194,900 for detached houses and $15,000 for vacant lots.

Houses for sale in Terrace Bay

Where can I find cheap houses for sale in Terrace Bay?

22 homes in Terrace Bay are listed under $800K. The lowest asking price today is $15,000.

Homes under $800K in Terrace Bay

How do I get cash back when I buy a home in Terrace Bay?

Buy through HOMEH and you get a Cashback Rebate of 1.5% of the purchase price, paid at closing, subject to eligibility and your buyer agreement. On Terrace Bay’s median asking price of $147,400, that would be $2,211.

How the Cashback Rebate works

Keep looking

More Houses to Buy in Terrace Bay

22 homes are for sale in Terrace Bay. Browse by neighbourhood or home type below — and get the industry's highest Cashback Rebate when you buy with HOMEH.

At a glance