Sarnia Lambton Real Estate Board office of Exmouth Street. (BlackburnNews photo)

Monthly real estate sales top $70M

Sarnia-Lambton Real Estate sales set a new all-time record high in May at $71 million.

Real Estate Board President Donna Mathewson says 206 properties sold last month, an increase of 5.6 per cent over last year.

“Spring is always a good time for the real estate market,” said Mathewson. “May, even though it’s been a really wet month, it didn’t dampen the spirits of buyers that were out looking for real estate. We did break that $71-million dollar mark, that’s total across the board — commercial, farm, residential, condos — that’s everything together.”

There are currently 220 active residential listings in the MLS system, 252 were new in May.

“We had more listings come on the market in May, which was really nice to see. More listings is going to help us get to a more balanced market, which is what we’re looking for, that’s what we call a healthier market to have. So, more listings on the market obviously meant more opportunities for sales, so consequently, that’s why we have higher numbers this month.”

The majority of residential home sales were in the $200,000 to $300,000 price range.

The average sale price so far this year was also boosted to $329,000.