file photo. (photo by Adelle Loiselle)

Local Real Estate Listings Still A Concern

After record-setting sales volume last year, the Sarnia-Lambton real estate market is off to a modest start in 2018.

Real Estate Board President Steve Park says 108 properties sold in January with a dollar volume of $29-million.

“After the cold weather over the holidays and into the new year, and phenomenal quarter we had last third-quarter… everybody’s taking a breather,” says Park. “Our sales were down 7%, however, our volume is up. So, we’re still seeing people encouraged by Sarnia, wanting to invest in Sarnia and looking at the higher priced houses.”

The highest number of residential home sales was 22 sales in the $100,000 to $150,000 range, but Park says there were 12 in the $300,000 to $350,000 range — an increase from eight in the same price range last January.

Inventory remains a concern with only 143 active listings in the MLS system.

“We need listings. We need listings badly. We need listings right from the $79,000 central city listing, all the way up to the $300, $400, $500,000 priced houses. Everybody is looking for houses at every price range.”

The average sale price so far this year is $282,000, compared to $226,000 in 2017.