A healthy rental market boosted Sarnia-Lambton real estate sales in August.
The highest number of residential sales was 30 in the under $100,000 price range.
Real Estate Board President Steve Park says investors who may have two or three rental properties are deciding to add more.
"The rental market in Sarnia scares anybody looking for a place to rent," says Park. "So, there's a few investors out there that know that and there's a few investors out there that are trying to add to that, so they're buying these properties and making them available to rent."
187 properties worth $46-million sold in August, a ten-year record high for the month.
The average sale price so far this year is just over $262,000, compared to nearly $232,000 last year.
MLS listings remain an issue, down 33% but Park says the typically strong fall market should narrow the gap between listings and sales.
There are currently 223 active listings in the MLS system.
