Houses sitting for longer. Sellers need to price according to the market.
The president of the Sarnia-Lambton Association of Realtors is recommending that sellers properly price their homes to begin with, as buyers remain selective and properties spend more time on the market.
She said a properly priced home from the start will often result in a quicker sale and more money as opposed to starting high and reducing it later.
The median days on market increased in July from 21 days to 27, compared to the same time last year.
Last month, 136 properties were sold, representing a 6.8 per cent decrease compared to July 2025. It's also down compared to june, when 170 properties changed hands.
The average sale price in Sarnia lambton last month was $539,120, down 3.2 per cent from July 2025, while the median sale price decreased 1.6 per cent to $459,950.
Canadians are witnessing the largest real estate correction in the country’s history. Prices fell 0.8% in Q1 2026, shedding 4.8% since last year. Since peaking in Q1 2022, prices have dropped 20.1% in nominal terms, rolling back to Q1 2021 levels.
Ontario's housing market in June 2026 saw the average home price decreased to $831,595, down 1.9% monthly from May 2026. Prices were down 2.4% year-over-year from June 2025, when the average home price was $852,036.