The value of properties sold in Sarnia-Lambton in June hit nearly $50-million, but that's a significant decrease compared to the unprecedented $66-million recorded in May.
There were 193 sales last month, down 12% compared to June of 2016.
Real Estate Board President Steve Park says inventory was a factor again with listings down 18% year-over-year. He says summer sales are generally driven by a specific purpose, like a new job or growing family.
"The people buying in the summer, are people that are buying for a reason," says Park. "They're keeping an eye out and when that house pops up, they're buying it. In the fall and in the winter, you get more people buying due to things like cabin fever or they've been in their houses too long."
The most residential sales in June, at 37, were in the $150,000 to $200,000 price range.
The average sale price so far this year is $259,000, compared to $229,000 in 2016.
Dollar volume for the year is still up 13 % at $269-million.
