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Lethbridge real estate market sees 14% sales surge in July

Just like a surge across the country, real estate sales in Lethbridge have been red hot in recent weeks.

Cathy Maxwell with the Lethbridge and District Association of Realtors (LDAR) says agents here have been very busy since early July. “Our stats for July are coming in 14% above year-over-year numbers. That’s a good number.”

Maxwell says the downside though is because of a slow down in the spring due to the health pandemic, sales in Lethbridge and area are up only 1% over last year at this time. “We did lose some deals at the beginning of COVID. July was busy, but it isn’t enough to make a huge difference year-over-year.”

The average selling price for a home right now is stable at $285,000.

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Maxwell notes there is roughly three-and-a-months worth of inventory on the local market right now (as of July). She says that’s pretty low, pointing to it being more of a seller’s market.

With the way July went and the current market conditions, Maxwell is confident Lethbridge relators will see a fairly good August and September. However, given the COVID-19 pandemic, it’s anyone’s guess as to how things will look beyond that.

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