The Lethbridge real estate market saw a significant year-over-year decrease in March, according to the latest report from the Alberta Real Estate Association.
In March there were 150 sales made in the region, down 41.9 per cent compared to sales in March 2022. Last month 225 new listings hit the market, down 21.6 per cent compared to the same month last year. The average sale price in March was $341,065 seeing a 0.1 per cent year over year decrease.
Overall sales in the first three months of 2023 for the region were down 36 per cent, compared to the same period in 2023. 506 new properties hit the market so far this year, a 24 per cent decline from 2022. The average sales price in Lethbridge is down three per cent at $332,759.
Provincially sales in March were down 41 per cent compared to 2022; with an average sales price in March being $494,166 down six per cent compared to last year. The first quarter of 2023 saw a 41 per cent year-over-year decrease in sales, with the average price of $455,701 down two per cent from 2022.