Area real estate sales on an upswing

Real estate sales in Sarnia-Lambton were up last month, making 2011 the second best in history.

Sarnia-Lambton Real Estate Board president Donna Mathewson says a year of historically low interest rates, continued government rebate programs and reasonable home sale prices is behind a year-end total of $328.5 million in sales and a December that is the highest in a decade.

Some $18,443,000 in real estate was sold last month.

The numbers released by the SLREB show higher year over year totals for 10 out of 12 months compared with 2010.

Officials say there were 102 sales in December with 770 listings on the market as of Dec. 31.

Mathewson, who says the average sale price in Lambton County was $194,774, says a 3% increase in sales, a 5% increase in listings and a 9% increase in sales volume bodes well for the industry.

"(It) equates to a nice steady growth in our local economy."

Tags: Donna Mathewson, real estate sales, record numbers, Sarnia Lambton Real Estate board, Sarnia-Lambton news