Sarnia-Lambton's real estate market has officially returned to pre-pandemic listing and sales levels.
Real Estate Board President Rob Longo said there were 186 new listings in November, up 43 per cent from November 2021, and just 98 sales.
"We have seen things start to slow down a little bit, and we're sort of picking up right where we left off before the pandemic... before things obviously went a little crazy," said Longo. "So, we're right on track with those numbers. We did see inventory, the number of active listings, go up again in October and November, which is a good thing. There's more options and more choices for people, but basically, that puts us right back to 2017 levels of inventory."
Longo said with more selection, it's taking a bit longer for houses to sell.
"We're up to an average of 30 days. Again, much slower than what we've seen for the past two years, but it still is very good compared to what we're used to if you look at more of a five or ten year trend."
Longo said the median year-to-date sales price was $490,000 last month.
He said that was up almost four per cent compared to November 2021, but down compared to October 2022.
"The median price is down slightly. We have seen that start to trend down a little bit from the highs of January/February where it did jump up quite a bit."
Homes sold for 97 per cent of their asking price in November and the sales volume for the month was nearly $52 million, down 20 per cent from the same month last year.
Volume sales for the year were just under $785 million.
