The pandemic has put a spotlight on Sarnia-Lambton's real estate.
Real Estate Board President Donna Mathewson is noticing more people from out-of-town purchasing properties here.
"With COVID this year, what we're finding is, a lot of people are realizing that they can work remotely, whereas they didn't think they could before, or maybe their employer didn't think that they could before, which means geographically we could be located anywhere," said Mathewson. "So, if we can sell our property in the GTA or in the Golden Horseshoe and we can come to Sarnia, which has so much to offer, we can get way more house for way less money."
In October, there were 247 listings and 209 sales, representing a nearly 26 per cent increase in sales compared to the same month last year.
"We were up over 11 per cent in the amount of product that we had come onto the market, which also goes hand-in-hand with the increase in sales for the month, but that was indicative of how many homes we had that were put on the market. So, it's really nice to see more options for buyers that are out there to choose from."
Mathewson said volume sales were extraordinary, 27 properties worth over $750,000 sold, and sales also surged in the $275,000 to $350,000, and $450,000 to $550,000 price ranges.
"October has just blown all of our previous numbers out of the water," she said. "We total across the board, including residential, commercial, farm properties, $91,258,000, which is [nearly] double what we would normally do. So, absolutely, that's a huge number and we're pretty excited about all of the home sales that have happened in the area in October."
The total sales volume was up 66 per cent compared to the same month last year, setting a new all-time record high.
The average residential sale price so far this year is $402,000, up nearly 20 per cent.