The president of the Sarnia-Lambton Association of Realtors is noticing a bit of a hesitancy in the local market.
Jeremy Guerette thinks the weather and economic uncertainty are contributing factors.
"We really haven't had the good weather," he said. "Once we get some nice, bright, sunny days... are people going to start getting more interested in making a move? Overall, I would say there does seem to be a little bit of a hesitancy in the market. Obviously, the tariffs and interest rates play a big role in that."
Guerette said 120 homes worth a total of $59 million sold last month, representing a nine per cent drop in sales and a 15 per cent drop in dollar volume compared to March, 2024.
"It seems like nobody's really sure how things are going to play out, and that is probably the biggest factor in everything. I'm still getting lots of people calling and buyers actively looking," Guerette said. "So, that's encouraging. Honestly, I do think if we get some good weather, that's going to make a big difference as well."
There were 576 active listings last month, 284 of which were new.
"Overall the inventory is up significantly from a year ago, in and around 25 per cent higher," he said.
The median sales price was nearly $460,000 in March and listings spent about 28 days on the market.
"Prices have held pretty steady here, consistently over the last year. So, I'm kind of thinking that's going to continue to play out. But, we're going to keep an eye on it for sure," Guerette said.