Saturday, May 21, 2022
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Lethbridge real estate market tops $1 billion in sales in 2021

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LETHBRIDGE, AB – It turned out to be a record year in more ways than one in 2021 for real estate sales in Lethbridge, in fact home sales were off the charts.

Cathy Maxwell with the Lethbridge and District Association of Realtors says agents here were extremely busy.

“We logged in 2,313 sales in 2021,” says Maxwell. “That is a new record high surpassing the record set in 2006 by 14%.”

Maxwell says the total dollar value of all homes sold in the city last year hit a record high as well at around $1.1 billion dollars.

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One other stat of note, is the average house price went up as well, now sitting at around $330,000. That’s a jump of 9% year-over-year.

It’s still very much a sellers market in Lethbridge with only about 2.6 months worth of listings avilable. Inventory has been an issue for the past number of months.

Maxwell expects this strong market in Lethbridge to continue in the first few months of 2022, however she says a possible increase in interest rates could have an impact.

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