Sarnia-Lambton Association of REALTORS®

The number of homes sold through the MLS® System of the Sarnia-Lambton Association of REALTORS® totaled 95 units in December 2024. This was a significant gain of 33.8% from December 2023.

Home sales were 6.3% above the five-year average and 10.7% above the 10-year average for the month of December.

On an annual basis, home sales totaled 1,525 units over the course of 2024. This was a gain of 6.9% from 2023.

“December was surprisingly active, with sales coming in above average for this time of year. While 2024 got off to a bit of a slow start activity picked up momentum in the second half, and by the end of the year total annual sales had surpassed 2023. New Listings were another highlight, up significantly from December 2023 and well above the long-term averages throughout the year,” said Jeremy Guerette, President of the Sarnia-Lambton Association of REALTORS®. “Active listings still remained significantly above the historical norm. As far as prices, the average trended marginally lower than 2023 for most of the latter half of 2024, and ultimately finished the year slightly below where it ended 2023.”

The average price of homes sold in December 2024 was $493,103, down by 12.7% from December 2023.

The more comprehensive annual average price was $526,550, a minor decrease of 1.8% from all of 2023.

The dollar value of all home sales in December 2024 was $46.8 million, a notable gain of 16.9% from the same month in 2023.

The number of new listings saw a substantial gain of 57.3% from December 2023. There were 118 new residential listings in December 2024. This was the largest number of new listings added in the month of December in 15 years.

New listings were 34.7% above the five-year average and 45.1% above the 10-year average for the month of December.

Active residential listings numbered 448 units on the market at the end of December, a gain of 20.1% from the end of December 2023. Active listings haven’t been this high in the month of December in more than a decade.

Active listings were 75.1% above the five-year average and 84.1% above the 10-year average for the month of December.

Months of inventory numbered 4.7 at the end of December 2024, down from the 5.3 months recorded at the end of December 2023 and above the long-run average of 3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.