As 2023 came to a close, the Sarnia-Lambton housing market showed some interesting trends. Let’s take a closer look at the numbers for December 2023, compared to the same month in the previous year.
Sales Activity:
In December 2023, the residential market saw 71 properties sold, marking a 6.6% decrease from December 2022.
Dollar Volume:
Total sales amounted to approximately forty million dollars, representing a 3.4% decrease from last year.
New Listings:
The market saw 74 new properties listed, showing no significant change compared to December 2022.
Active Listings:
There were 343 active listings, a substantial 30% increase from the previous year.
Months of Inventory:
The market experienced 4.8 months of inventory, indicating a more balanced environment between buyers and sellers.
Average Price:
The average sale price in the residential market was about five hundred sixty-five thousand dollars, a noticeable increase from December 2022.
Sale to List Price Ratio:
The ratio stood at 96.2%, suggesting that most homes sold close to their listed prices.
Median Days on Market:
Homes typically took around 35 days to sell, reflecting a steady pace in the market.
Breakdown by Area:
Sarnia North End:
- Active Listings: 67
- Conditionally Sold: 3
- Sold: 19
- Average Sale Price: $733,000
Sarnia South End:
- Active Listings: 49
- Conditionally Sold: 2
- Sold: 22
- Average Sale Price: $433,000
Bright's Grove:
- Active Listings: 10
- Conditionally Sold: 0
- Sold: 2
- Average Sale Price: $600,000
Plympton-Wyoming:
- Active Listings: 66
- Conditionally Sold: 1
- Sold: 8
- Average Sale Price: $610,000
Lambton Shores:
- Active Listings: 27
- Conditionally Sold: 0
- Sold: 3
- Average Sale Price: $438,000
Forest:
- Active Listings: 7
- Conditionally Sold: 0
- Sold: 3
- Average Sale Price: $438,000
Petrolia:
- Active Listings: 15
- Conditionally Sold: 1
- Sold: 2
- Average Sale Price: $500,000
St. Clair Township:
- Active Listings: 33
- Conditionally Sold: 1
- Sold: 6
- Average Sale Price: $480,000
Corunna:
- Active Listings: 22
- Conditionally Sold: 1
- Sold: 5
- Average Sale Price: $520,000
