Sarnia-Lambton Real Estate sales broke the $60-million mark for just the second time ever last month.
195 properties worth nearly $65-million sold in May, but that was actually down almost 18% in terms of the number of sales from the same month last year where volume sales hit $66-million.
Real Estate Board President Steve Park says the struggle to get listings continues.
"I remember when I got into real estate 25-30 years ago, the average amount of listings at any given time was 1,000 listings," he says. "That just goes to show you how extreme it's gotten. We have one fifth the amount of listings for anybody to choose from. So, that means there's just nothing out there and those are all selling. So literally you're waiting for something to come up and then there's competition."
There are currently 190 active listings in the MLS system with 184 of those being single family homes, all of which were new in May.
The highest number of residential sales was 14 in the $280,000 to $300,000 range, and 11 properties over $600,000 sold.
The average sale price so far this year is $306,000.