Lethbridge real estate numbers for 2017 were similar to 2016 and continued to grow from 2015.
Over the past two years, the total sales volume rose from just over $707 million in 2015 to over $730 million in 2016 and over $741 million in 2017. This is good news for Lethbridge as home values are bouncing back after the recession a few years ago. While Alberta is no stranger to economic recessions, southern Alberta has remained resilient due to our diversified economy, making it an ideal area for new families and commercial growth. For more details on the economy in Lethbridge, visit the Economic Development Lethbridge website: www.chooselethbridge.ca.
The total number of listings in Lethbridge rose 2 percent from 2015 to 2017 and the number of sales remained about the same. We are seeing steady growth in the area, which is beneficial.
May was the highest month in 2017 for both home sales and news listings with December being the least new listings and January was the least sold listings. Winter is typically a slower time of year for real estate, but the end of 2017 saw higher sales than in 2016. One factor could be the mortgage rule changes that took effect January 1, 2018. Many homebuyers wanted to purchase before the end of the year and homes sold in December 2017 rose to 160 compared to 135 in December 2015 and 2016.
In terms of pricing, 25 percent of homes sold fell within the $220,000 to $279,999 range. The $220,000 to $239,999 range saw the most sold homes with 232. This is a very popular price range for Lethbridge and has remained so for the past few years.
We keep up-to-date on the newest trends so we can sell your home at the best price or help find the perfect home that fits your lifestyle and your budget.
If you’re looking to sell your home this year then fill out this form