This will be the first of my monthly Sarnia Real Estate report series. I will be reporting on the statistics so you can make an informed decision whether you are buying or selling. I pride myself on knowing the market and the trends behind it so I can help my clients negotiate the best possible deals based on the data.
Sarnia-Lambton as you can see from the graph is slowly trending to a Buyer’s market as last months sales statistics were down approximately 9% compared to last October. The total dollar volume of homes sold was $26.7 Million down 2% from $27.3 Million last October. The number of properties sold were 133.
After 5 months of solid gains last months numbers show a mild correction to our market. This will help Buyers as more listings sit on the market the more inventory there is to look at and the more negotiating they can do as they have more choice.
Our average sale price last year at this time was $201,000 and now it is up to $204,000 meaning that prices in Sarnia are rising slightly over inflation which is great for our overall market.