Lethbridge Real Estate Market Update: February 2013

City of Lethbridge – Single Family Homes

February 2013:

• Sales to active listings ratio: 17% (92/549)
• For same month last year: 18% (92/519)
• Average sale price: $273,846
• For same month last year: $277,931

February, 2013, Year-to-Date:

• Total number of sales: 166
• For same period last year: 152
• Average sale price: $272,728
• For same period last year: $277,204

City of Lethbridge – Condos

February, 2013:

• Sales to active listings ratio: 6% (9/147)
• For same period last year: 9% (11/123)
• Average sale price: $194,500
• For same month last year: $203,815

February, 2013 Year-To-Date:

• Total number of sales: 18
• For same period last year: 24
• Average sale price: $184,806
• For same period last year: $206,507

Single-family home prices in Lethbridge dropped in February by 1.5% while actual sales activity remained exactly the same versus the same period last year. This is interesting given Calgary single family home sales dropped by over 5% in February 2013 vs 2012. Homeowners in Lethbridge waiting for “the right time to sell” may want to consider the broader economic forces at play, weighing current market stability against future unknowns.

For the moment though, Lethbridge real estate continues to moderate in comparison to the more volatile markets of the larger centers.

*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.