A Realtor’s question: So, how’s the market?

As a licensed Realtor (in addition to my role as Editor and Publisher of LambtonShield.com) it's a common question.

"So, how's the market doing these days?"

And the best answer I can offer is my explanation that there really is no one single market in the Sarnia-Lambton area.

It all depends on location. Yes, location, location, location.

There are other factors of course. The condition of the property, the features (number of bedrooms, garage, bathrooms, etc.). But everything else being equal, location is going to determine the price for which a house will sell.

What doesn't determine a home's selling price is what the current owner "needs" to get for the property. Honestly, the market doesn't care. 

Homes will sell based on what other similar homes have sold for and the more recent the sale, the better predictor of what the next sale will be.

But I digress just a wee bit. 

Look for a somewhat regular column on the subject of real estate to appear on our site. And in the meantime, if you have specific questions regarding real estate, feel free to e-mail me and I'll do my best to answer those questions.

—J.D. Booth

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