City of Lethbridge – Single Family Homes
- Sales to active listings ratio: 15% (71/487)
- For same month last year: 16% (84/510)
- Average sale price: $300,130
- For same month last year: $274,774
- PENDING sales as of this post date: 23
November 2014, Year-to-Date:
- Total number of sales: 1203
- For same period last year: 1158
- Average sale price: $294,899
- For same period last year: $284,350
City of Lethbridge – Condos
- Sales to active listings ratio: 14% (14/100)
- For same period last year: 5% (5/106)
- Average sale price: $193,646
- For same month last year: $196,980
- PENDING sales as of this post date: 7
November 2014, Year-To-Date:
- Total number of sales: 209
- For same period last year: 166
- Average sale price: $193,900
- For same period last year: $198,621
While October was a record month for City of Lethbridge single-family home sales, buying activity has returned to more typical levels for November, with 71 closings. Year-over-year price increases are holding strong though at approximately 3.5% in the single-family market. There was a noticeable variance between average sold price this year in November versus last. However, a closer look at the data shows this is due to a high-end property sales pulling up the average. Median prices did not vary as dramatically.
Of course, everyone is watching how the real estate market reacts to precipitous oil prices. Calgary in particular is expected to feel the impact with less market heat forecasted for 2015.
The average sale price of a Calgary home is expected to rise by only three per cent in 2015 to $497,500 after shooting up six per cent in 2014, as more buyers are expected to sit on the sidelines to see if the recent slump in oil prices will make houses cheaper.
~ Slumping oil prices to hit home prices in Calgary in 2015: Re/Max, Financial Post, December 10, 2014
*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.