LETHBRIDGE, AB – It appears the real estate market in this city may be hotter than the weather.
We’ve seen record sales for over a year now and it doesn’t appear as if it’s going to slow down anytime soon.
Cathy Maxwell with the Lethbridge and District Association of Realtors says compared to the first six month of 2020, sales during the same time this year are up a whopping 38%. That’s a new record high for Lethbridge.
“Houses, I mean not all, but many are gone with a day or two and with multiple offers. It’s an interesting time,” says Maxwelll.
If you are looking for a new place to live there’s not a lot to choose from in general with only about two months worth of inventory right now. With that, Lethbridge remains very much a seller’s market.
The dollar amount sold so far in the first six month of 2021 is off the charts. Over $615 million in sales, compared to roughly $330 million in 2020. Maxwell calls these numbers astounding.
As for how the rest of the year is going to play out, that’s anyone’s guess. Maxwell though expects this hot market will continue for a while yet, driven in part by low interest rates and people’s general desire to get going with life as the COVID-19 situation has drastically improved and things are getting back to normal.
The price for a home in Lethbridge has also gone up about 7% year-to-date, with the average now at around $323,000.
