The Business News Source for the Community of Sarnia - Lambton

Year End Real Estate Review

Mario Fazio's picture
Mon, 12/03/2018 - 11:23 -- Mario Fazio

2018 has shown continued rises in average home sale prices in Sarnia, Lambton. We should end up with $300,000 to $325000.00 as our medium price point, locally. We are starting to be on par with Windsor-Essex, but still well below the rest of the province and the national average. This indicates to me that newcomers are discovering the many benefits of buying and settling in the south west water front corridor of Ontario.  Retirement living and affordable housing, combined with our moderate weather, seems to be the biggest draws . Also modest job growth and replacement of retiring workers in the region are starting to draw young people here to fill these good jobs. Our local Lambton College continues to grow and offer more courses in a great newly refreshed atmosphere. We also have plenty of available affordable student housing which brings not only out of town students but their economic support to our shops and businesses.  As we see house values in the big metropolitan markets continue to rise across the country, we will have more upward pressure on our own housing prices to increase. Buyers are still paying premium dollars for new homes, and renovated and up- to- date housing, but increased prices are less common in lower price ranges. Sarnia-Lambton has been experiencing strong price gains for the past 24 months.  2019 will continue to bring modest gains in pricing in some housing areas, but we will also see a leveling off effect in other areas, due to increased pressure from rising interest rates.

I continue to strongly recommend you do your home work with an experienced Realtor that has your best interest in mind to find the right property. Be careful to thoroughly inspect the home and area before you buy. Remember the home you buy continues to be your best investment, so choose wisely.

If you have any questions or real estate topics that you would liked discussed, please email or call/text me at 519 383 2566

Fine Print