Lethbridge – Single Family Homes
- Sales to active listings ratio: 12% (56/466)
- For same month last year: 15% (67/458)
- Average sale price: $310,460
- For same month last year: $285,793
- Average Cumulative Days on Market: 95
- For same month last year: 98
- PENDING sales as of this post date: 28
City of Lethbridge – Condos
- Sales to active listings ratio: 8% (8/103)
- For same period last year: 9% (8/86)
- Average sale price: $208,813
- For same month last year: $211,613
- Average Cumulative Days on Market: 81
- For same month last year: 155
- PENDING sales as of this post date: 15
With 8 months’ inventory available on Lethbridge single-family homes in January, the market certainly felt sluggish through the holiday season this year. And the new mortgage rules announced last October will put a drag on the market going forward to some degree. However, in recent weeks, buyers have come out of winter hibernation like they always do this time of year in southern Alberta, and are actively looking at homes again. In other words, we are BUSY!
In other local news, Lethbridge is truly hitting its stride as a municipality with recent announcements to the positive regarding the rate of population growth. West Lethbridge continues to be the fastest growing region of the city (Census 2016), not surprising given the large commercial and recreational development now taking shape in The Crossings and the array of housing options available to families of all sizes.
The city of Lethbridge is officially a census metropolitan area. It is the fifth-fastest growing city in the country, growing at a rate of 10.8 per cent between 2011 and 2016.
The upgrade in status is exciting news for the city.
‘In a good year, we grow by two per cent and in a bad year we grow by two per cent,’ Mayor Chris Spearman said. “I think that’s great for investors that we have rock-solid growth and I think it’s important for our city in terms of planning for infrastructure going forward into the future.
Census 2016: Lethbridge fifth-fastest growing city in Canada, Global News, February 8, 2017
Don’t hesitate to get in touch if you’re thinking of buying or selling. We’d love to hear from you.
Lethbridge real estate market data provided by the Lethbridge and District Association of REALTORS® and compiled by Karri Flatla. Information herein deemed reliable but not guaranteed.