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Sarnia and Lambton County

Ever wanted to sell your home in Sarnia? Do you want to sell your Sarnia house? Sarnia-Lambton Real Estate Board is here to give you the best-selling experience. With this real estate agency established in 1944, you get connected to your potential buyers. Therefore, we will look at the MLS® statistics and see if you can sell through the board or not.

A Change Needed

In March 2020, the government asked the Sarnia-Lambton Real Estate Board directors to change the way they do business. According to Donna Mathewson, the President of the board, this move of introducing a new way of buying and selling homes was adapted well with the REALTORS® and community members. Donna says they have the clients and community in mind and have succeeded in enabling essential purchases and sales virtually. This is in a bid to keep the safety of parties involved a priority.

Residential Activity

In the third quarter of 2020, the residential activity in Sarnia-Lambton rose compared to the same period in 2019. Nonetheless, residential property sales totaled 533 units in the third quarter of 2020. This was a 15.7% increase compared to the same quarter in the previous year. On the other hand, April 2020 recorded a reduction in sales numbers. They were down by 41% compared to that of April 2019.

Single Detached Home Sales

Sarnia-Lambton Real Estate Board had their single detached home sales increase in the third quarter of 2020 by 17.4% on a year-over-year basis. Moreover, the number recorded for single detached home sales in the third quarter of 2020 was 519. This was a 17.4% increase from the figure recorded in 2019 during the same period. Furthermore, this figure was the highest level of sales ever recorded in any quarter. Additionally, it was the first time for Sarnia-Lambton Real Estate Board to record a figure above 500 in the quarterly sales. Since the market was tighter, the single-detached homes spent less time in the market in the third quarter of 2020 than they had in the third quarter of 2019.

The Average Sale Price

In April 2020, Sarnia-Lambton real estate Board had a steady average sale price. Moreover, there has been a 4% increase in the new average sale price compared to that experienced in April 2019. President Donna says that the steady average sale price is a result of a continued lack of supply versus the demand for housing. Therefore, this must have been a good opportunity for an individual to sell his or her residential property, house, or home in Sarnia.

According to Donna, as the province lifts some of the restrictions regarding the pandemic, they expect real estate to stabilize continually. Besides, REALTORS® are also expected to continue adapting and being creative in the way they market homes.

Conclusion

The Sarnia-Lambton Real Estate Board is a non-profit organization with real estate professionals to offer quality services to clients. Moreover, the organization had to make changes in March 2020 and start doing business virtually. However, they expect to stabilize, adapt, and be creative once the restrictions are lifted.