Mariners Village Pt. Edward (BlackburnNews.com file photo)Mariners Village Pt. Edward (BlackburnNews.com file photo)
Sarnia

Supply Not Meeting Demand In Real Estate Market

Sarnia-Lambton's real estate market is strong but there's still concern that supply isn't keeping up with demand.

171 properties worth nearly $46.3-million sold in April, another ten-year record high for the month.

Real Estate Board President Steve Park says despite the high dollar volume, the actual number of sales for the month was down 13% compared to last year.

"But, that's kind of misleading, because our (MLS) listings are down 13% of the month," says Park. "Basically, it's you've got nothing to sell... then you can't sell it. We're basically the same as we were last month. The sales for the year is only down by 1%. So, I'm very encouraged still with the spring market."

There are currently 279 active listings in the MLS system with 218 being single family homes. 173 were new in April.

"We're still looking for lots of listings and as long as people know where they're going and what they're doing when they do sell, we would certainly love to have them," says Park.

The highest number of residential home sales was 31 sales in the $200,000 to $250,000 range.

The average sale price so far this year is nearly $242,000, compared to $220,000 in 2016.

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