The Sarnia-Lambton real estate market maintained a steady sales report in September, but record-high listing levels are signalling a shift, with the market now sitting at the very low end of a statistically "balanced market." Sales saw a slight increase, up 3.6% from September 2024, with the overall dollar volume also rising 3.8% compared to […]
The Sarnia-Lambton real estate market maintained a steady sales report in September, but record-high listing levels are signalling a shift, with the market now sitting at the very low end of a statistically "balanced market."
Sales saw a slight increase, up 3.6% from September 2024, with the overall dollar volume also rising 3.8% compared to the same month last year.
However, a large number of 354 new listings in September brought the sales-to-new-listing ratio down to 41%. This low ratio indicates that while buyers are taking advantage of high inventory, the volume of homes for sale is outpacing the pace of sales.
The surge in listings has led to three consecutive, though small, drops in the average sale price.
Key metrics from the September report include:
Active Listings: There are approximately 645 active listings in Lambton County, representing 4.4 months worth of inventory, which is virtually unchanged from the previous month.
Average Sale Price: The year-to-date average sale price is $534,973, a drop of just under 1% from last month’s year-to-date average. Despite the small drops, the median average sale price remains stable, suggesting prices are holding steady overall.
Days on Market: The median days on market are up slightly again, with homes taking approximately 28 days on average to sell.
Buyers appear to be taking advantage of the high inventory levels, as competitively priced homes are still selling. Market observers will be closely watching these numbers over the next few months to determine if a lasting trend is forming.
—
This article was created with support from advanced editorial tools and reviewed by our team to ensure accuracy and fairness. Learn more.
