Sales activity in the local real estate market has continued to trend upwards this spring.
The Sarnia-Lambton Association of Realtors said 163 homes were sold last month, which is up from 132 homes sold in March and an increase of 5.8 per cent compared to April 2023.
On average, properties sold at 98 per cent of their list price.
The median sales price in April was $515,000, an increase of 4.4 per cent compared to April 2023. Whereas the year-to-date median sales price increased by 1.1 per cent to $475,000.
Association President Jeremy Guerette called the increase "slow and steady."
"It's hard to really pin it down from one month but what I am looking at is the trend," he said. "It looks to me like what we're seeing is an upward trend, although it is slow and steady, which is probably a good thing for our market."
Meanwhile, Guerette said the increase in sales activity was expected and remains pretty steady with the number of new listings.
"The sales to new listings ratio is up slightly from [March] so we're sitting at about 52 per cent, which is right in the middle of a balanced market," he said.
A monthly report from the Sarnia-Lambton Association of Realtors said there were 311 new listings last month, an increase of 62 per cent compared to April 2023.
Guerette also said there have been a fair amount of entry-level homes to balance out the number of new and resale properties that are in the range of $700,000.
In April, listings spent about 20 days on the market.