Now that we are entering fourth quarter of 2020, The Year of Covid, we have a clear picture of how the global pandemic has impacted Lethbridge real estate. Happily, we can also now say that Covid-19 hasn’t had the negative impacts we were fearful of in early days. Personally, this is as good a market as I have ever seen in my eight years of selling homes.
Whether you’re buying or selling, there is almost no reason to wait.
Real estate prices remain stable as the inventory in Lethbridge is cleaning up significantly, adding buoyancy to the market overall. In short, it’s a great time to make a move if you own a home. Conversely, if you’re in the market to buy a home, interest rates are remarkably low (2% or less for qualified buyers).
Highlights for Lethbridge real estate market in 2020, September Year-to-Date:
- Days on market: 88 (nearly unchanged from 2019) but trending upward slightly in recent years
- Number of sales year to date: slight increase year over year of approximately 4%
- Active listings: less than 700 listings at time of writing (versus over 800 last year)
- Average sale price YTD: we’ve moved from approximately $293k in 2019 to just over $300k
- Months’ inventory: 3.5. This is low! And also great news for sellers across most price points.
Watch my video below for a detailed overview of the 2020 Fall Lethbridge real estate market. Then give us a call or drop us a line to find out how we can get your home sold quickly for top dollar. There is no time like the present!