Remax sarnia realty inc., Brokerage
1319 Exmouth St. Sarnia,
ON, N7S 3Y1

Ryan Gervais

Ryan is a full time Sales Representative with Re/max and look forward to being your guide to the Sarnia Real Estate market
ryan.gervais@sarnialistings.com

March Market Report – Prices up 3%!

4
Apr
no Comments In Market Reports

Are you interested in seeing what is happening in the Sarnia real estate market? In this post, I will compare last month’s numbers with March of 2013’s numbers.

Real Estate Activity for March 2014 vs March 2013

In March of 2014, there were 78 homes sold in Sarnia, Ontario. This is a decrease in 16 homes, as there were 94 homes sold in March of 2013.

The average list price for homes that closed in March of 2013 was $193,723

The average list price for homes that closed in March of 2014 was $199,410

An increase of 3% from 2013

The average sale price for homes that closed in March of 2013 was $187,841

The average sale price for homes that closed in March of 2014 was $194,035

An increase of 3% from 2013

The Average days on the market for homes that closed in March 2013 was 67 days

The Average days on the market for homes that closed in March 2014 was 59 days

Homes are selling 12% faster than they were from last year

Conclusion

So you are probably wondering why the number of homes that sold are down but house prices are up from last year.  Luckily my degree in Finance and Economics will come in handy explaining this phenomenon.  As everyone in Sarnia knows we had one of the worst winters on record which led to sellers deciding to wait to list their homes as they were waiting for the real spring.  Buyers on the other hand stay pretty constant from month to month.  So with less homes on the market and the same number of buyers; supply and demand takes over and the prices are driven up by having more demand than the supply of homes for sale.  I noticed many more homes going over asking price and selling quickly over the last couple months.

Luckily for all you buyers still out there spring is here and the inventory of homes will start to increase giving more options for buyers to get their perfect home!  Sellers will still be able to take advantage of the increase in unfulfilled buyers still looking by listing your home in the next 30 – 45 days.  If sellers wait much longer than that I think the market will slow down considerably by summer.

Ryan Gervais

Ryan Gervais is a full time multi-award winning agent who is here to help you through your real estate journey. Ryan's main passion is to protect his clients greatest investment by making sure you buy a great house for a fair price. Reach out today and see for yourself the difference a great agent can make.

(519) 381-4055
ryan.gervais sarnialistings.com

Free Sarnia MLS Listing Delivered To Your Email Inbox

Only the houses that match your custom criteria are delivered to your personalized client portal. Ensure you are seeing the newest listings before anyone else by signing up now!