Speculation that Nova Chemicals might build a new world class polyethylene plant in Sarnia-Lambton has further stoked the hot real estate market locally.
221 properties sold in June, up 14% compared to the same month last year with dollar volume hitting an unprecedented $52.8-million.
Real Estate Board Vice President Steve Park says it's the second time the $50-million mark has been reached over the past 12 months.
"For the month of June we're at $52-million dollars in sales and that's very encouraging," he says.
"$51-million in sales was recorded last July and the dollar volume in May of this year was $45-million. We've continued to increase our product and get top value for sellers."
Park says residents are excited about engineering and study work being undertaken by Nova and that Sarnia-Lambton is the primary focus if the company decides to make the billion dollar plus investment.
"Sarnia has transitioned into a city of many different things, there's the alternative energy sector and the retirement sector. All of that has been supporting Sarnia," he says. "The hope of something more, something significant like Nova, is almost, for lack of a better term, icing on the cake. Something that's going to keep us going."
Three homes over $1-million sold in June, bringing the year-to-date total to seven.
The highest number of residential home sales, at 55, was in the $100,000 to $150,000 range.
37 homes in the $150,000 to $200,000 range sold.
The average sale price so far this year is $223,000, compared to about $217,000 last year.
There are currently 706 active listings in the MLS system with 300 of those being single family homes.