Setting Records: Lethbridge real estate market continuing “red hot”
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LETHBRIDGE, AB – It doesn’t seem like there is any slowing down when it comes to the city’s fast-paced real estate market these days.
Home sales in Lethbridge have been through the roof.
In fact, year-to-date sales are currently sitting at record numbers for both dollar amount sold and the number of homes sold.
Cathy Maxwell with the Lethbridge and District Association of Realtors says it remains a quite the seller’s market here.
“When talking with our provincial economist, she believes there’s a bit of an improving job market. The low mortgage rates definitely have something to do with this,” says Maxwell.
Maxwell says home sales within the city itself are up a whopping 82% compared to this same period last year.
She also notes this is all very positive for the city’s overall economy. “With every house sold, there’s approximately $50,000 to $55,000 in economic spin off that happens. The house inspectors, the appraisers, the furniture stores, the renovation people. All of those things come into play. It is good for our community.”
Right now there’s just two months worth of inventory available. That’s the lowest it’s been since 2007. The average price is up too as mentioned earlier, by nearly 10% year-to-date.
Even with all that, Maxwell says it’s still very important to note that if you are selling your home, having it priced right and and ready to show well are the big keys to getting a quicker sale.