Sarnia-Lambton real estate market stays hot

August 9, 2018 – Melanie Irwin, Blackburn News Sarnia

Summer heat hasn’t cooled Sarnia-Lambton’s real estate market with the value of sales almost hitting $60-million in July.

Real Estate Board President Steve Park says 162 properties sold, up almost 5% compared to the same month last year, and inventory has improved.

“Listings are up 20%, so we’re not having a cooling of the market, but what we’re having is the product out there being more available,” says Park. “That product is available right from the $100,000 property all the way up to the million dollar properties.”

Of the 208 active residential listings in the MLS system, 192 are single family homes, 202 of which were new in July.

“In July, historically, people are out doing things. People are at soccer, people are going on vacations, so we tend to have people close their houses in the summer as opposed to buy a house. Whereas in July of this year, we’re up 20%.”

The highest number of residential sales was 17 in the $240,000 to $260,000 price range.

The average sale price so far this year is about $310,000.

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