Value-conscious house hunters are being more selective as home sales dropped in September and trends shifted further into a buyer's market.
A monthly report from the Sarnia Lambton Association of Realtors said 128 properties sold in September, down 11.7 per cent compared to the same time last year. As a result, the dollar volume declined 16.2 per cent to $61.5 million.
There were 338 new listings in September, which is down 4.5 per cent compared to last year. Active listings increased 10.4 per cent to 722 properties, providing buyers with significantly more choices.
"There's hesitation from buyers right now [due to] economic uncertainty, affordability, and concerns about what may happen next with the economy," said Sarnia Lambton Association of Realtors President April Barnard. "Buyers are still out there, but they're taking their time, they're being more selective, and they're very conscious of value."
There are currently 5.6 months of inventory, up from 4.5 months in September of 2025.
Barnard said now is a great time to buy, especially for first-time home buyers.
"There's a lot to choose from, prices are more reasonable, and interest rates are relatively low," she said.
She suspects the trend of a buyer's market will continue throughout the winter months.
"But I do believe we'll start to see an increase in sales in the spring, and I do think that's going to continue throughout next year," Barnard said.
Listings spent about 28 days on the market. However, the association said the number is skewed because homes are often taken off the market and relisted at a lower price, resetting the days on market back to one.
The median sale price last month was $448,300, up 3.1 per cent from September 2025.
So far this year, 1,134 homes have sold, representing an 8.9 per cent decrease compared to the same period in 2025.
