Sarnia-Lambton real estate sales up 10.5 per cent in 2019 - Canada News Media
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Sarnia-Lambton real estate sales up 10.5 per cent in 2019

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Total annual real estate sales broke through $600 million mark for the first time in Sarnia and the rest of Lambton County in 2019 but the president of the Sarnia-Lambton Real Estate says she wasn’t surprised.

Sarnia-Lambton real estate
New homes are being built on Gianluca Avenue in Sarnia. The city issued a total of 58 building permits for new single family homes in 2019. That’s down from 83 the previous year.

Paul Morden / The Observer

Total annual real estate sales broke through $600 million mark for the first time in Sarnia and the rest of Lambton County in 2019 but the president of the Sarnia-Lambton Real Estate says she wasn’t surprised.

“It’s natural,” said Donna Mathewson. “Every year we set a new record, and we have been consistently for five years.”

The $608.6-million total for 2019 was up 10.5 per cent, compared to a 9.3 per cent increase the previous year.

Mathewson said the number of properties sold locally in 2019 was 1,843 – an increase of just one per cent.


Donna Mathewson, president of the Sarnia-Lambton Real Estate Board, talks about year-end local market statistics released Friday. The total value of local property sales in 2019 increased 10.5 per cent over the previous year. (PAUL MORDEN, The Observer)

Paul Morden /

The Observer

The board said there were a total of 2,547 properties listed for sale during 2019, compared to 2,421 the previous year.

Many areas of Lambton remain in a “high demand, low supply” situation when it comes to homes on the market, Mathewson said.

She said that has been the case for two or three years locally.

Real estate is cyclical and traditionally has peaks and valleys in the market, she said. “We have been on this peak for quite a while.”

Mathewson said the local economy remains strong and she expects the “steady growth” in real estate to continue this year.

2019 ended with a busy month of December, thanks to the mild weather, Mathewson said.

“We were still showing houses the 24th of December . . . the grass was still green.”

The average local home price was $336,354 in 2019, which is also up over last year, but the “hottest” segment with the most sales has been in the $200,000 to $300,000 price range, Mathewson said.

“First time home buyers are buying $200,000 homes now, and they didn’t used to,” she said.

She attributes that to low interest rates and high rents.

Bungalows were the most popular style of home sold in 2019, but Mathewson said that’s in part because bungalows make up most of the new homes being built locally.

“We had a lot more bungalows on the market, than anything else.”

New homes are still “helping drive our market,” Mathewson said.

“We still have development within the city, as well as the county.”

Sarnia-Lambton real estate

New homes are being built on Gianluca Avenue in Sarnia. The city issued a total of 58 building permits for single family homes in 2019. That’s down from 83 the previous year. (PAUL MORDEN, The Observer)

Paul Morden /

The Observer

Wyoming, Petrolia, Enniskillen Township and Corunna in St. Clair Township are some of the communities outside of the city seeing the impact of new home sales, she said.

Building permits statistics from Sarnia’s City Hall note the number of new single family home building permits issued in the city in 2019 totalled 53. That’s down from 83 the year before.

Ken Barros, chief building inspector with the city, said that may be because installation of some new streets and services to open up additional building lots in the city happened later in 2019.

Those streets are now in place and their lots are expected to fill quickly.

He noted the city has recently seen more activity with multi-unit residential building projects.

That includes a $28.5-million permit issued by the city in December for a Tricar residential tower under construction on Front Street. The London company’s plan is for a 15-storey building with 123 to 125 units.

By the end of 2019, the city had issued building permits for a total of $110.3 million in construction, up from $92.9 million in 2018.

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US Real Estate Getting Hot – Nasdaq

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(New York)

After about three years of being a laggard and worrying investors that a recession may be coming, US real estate looks to be turning the corner. Not only have home sales been rising, but new mortgage data looks very encouraging. Home lenders extended $2.4 tn in new home loans last year, the most since 2006. That figure is a whopping 46% increase from 2018. One economist from Freddie Mac described the situation bluntly, saying “When a large and cyclical part of the economy—housing—is starting to improve, it’s a good sign for the economy at large”.


FINSUM: It is important to note that most of this was refinancing activity because of the drop in rates, so it is not as massive an increase as it appears. Still, good momentum.

  • stocks
  • real estate
  • Mortgages
  • rates
  • yields
  • refinancings

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Real estate prices expected to rise in 2020 – inbrampton.com

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Home sales fell just seven per cent short of the market’s peak in 2016-2017 over the last 12 months.

According to a report from Zoocasa, while November to December saw a slight decrease in sales–which were down 0.9 per cent–sales were up 22.7 per cent compared to December 2018.

Additionally, as a result of MLS listings declining by 1.8 per cent in December, the average home price nationally rose 9.6 per cent to $517,000.

However, while sales were up on average across the country, the GTA saw a decrease.

Despite a slight decrease in sales in December, the fact the number of new units is close to the lowest it’s been in a decade, combined with the fact available listings are at a 12-year low has created a sellers market in the GTA.

In December, the sales-to-new-listings ratio hit 66.9 per cent, the highest it’s been since 2004.

The ratio is calculated by dividing the number of home sales by the number of new listings brought to market–a range of 40 to 60 per cent indicates a balance, while scores below and above represent buyer’s and seller’s markets respectively.

Additionally, the lack of the number of homes available is driving prices up, a trend that is projected to continue in 2020.

“Home price growth is picking up in housing markets where listings are in short supply. Meanwhile, the mortgage stress-test continues to sideline potential home buyers where supply is ample,” Jason Stephen, president of CREA, said in a news release.

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The Strange Questions Asked By Real Estate Clients – Toronto Storeys

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Kate Young is a realtor on the rise. And as a broker and partner at Keller Williams Portfolio Realty, she hears all kinds of things from her clients. But to her, there’s no such things as strange questions.

So we put that to the test with this week’s, Ask An Agent.

What are the strange questions a buyer or seller has asked you and what’s the story behind that?

Buying or selling real estate is a very big transaction that you may only do a few times in your life. So you may have questions which you think are dumb, but I’ve probably heard them before.

READ: Ask An Agent: Five Questions To Ask A Realtor Before Buying A Home

However, I did have this buyer who was very specific in what they were looking for and any time we came across a property that would work for them, they wanted to know what their pet thought about it.

We’d go into the property and they’d say, “I wonder what ____ would think of this place?” or “Would they be okay with their bed in this location?” Everything revolved around what their animal thought.

I tried to convey that they would most likely live in that home longer than the animal would be alive, but they wanted to feel like the home would be comfortable for their pet.

READ: Torontonian Found Hoarding Over 300 Cats In One Apartment

I tried to be supportive by highlighting the positives of each property by saying things like, “This location is great for you,” or “The price is right” until we found something they thought their animal would be cool with. We looked at a lot of properties.

This same person also wanted to set closing dates based on what an app told them would be days of good fortune and those days were always Sundays. They wanted to close six months from now on a Sunday because this app was telling them to. I had to explain that you can only close when the land registry office is open, which is Monday to Friday and not on any holidays or weekends.

Also, I had to explain that the date they picked was a really long closing and we had to negotiate a closing that worked for both parties. We were eventually able to find something and close on a weekday, but that was the strangest thing I’d ever encountered… I wouldn’t be surprised if there was some sort of soothsayer involved who was telling them that the place they eventually jumped on was the one for them.

I realize now that all of that – satisfying the pet and the fortune telling app – are just objections. At some point, they probably weren’t ready and they were putting up these road blocks. But, in due time, we were able to find something they were happy with that worked for the animal. It’s just about having patience and guiding them along the way to a place (where) they’re happy.

READ: 7 Tips To Help You Choose The Right Real Estate Agent

Another time, I had a listing that sold with a pre-emptive offer. It was a renovated house with an unfinished basement (that) we lightly staged. The stager had put down a carpet and some chairs to make it look clean, but it was definitely unfinished. They came back from their first buyer visit and the buyer agent called me and said, “The house is great, but they’re really disappointed that the basement is not finished.” I responded, “What do you mean? Of course the basement is not finished.”

The buyers didn’t realize when they bought the home with a quick, pre-emptive offer that it didn’t have a finished basement even though it said the basement wasn’t finished in the listing.

I use that story to show the power of staging to encourage people to stage because it works. The buyers in this case were just so blinded by how great the staging was they just went for it. It’s the buyer agent’s responsibility to always make sure their buyers know what they’re buying.

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