Lethbridge Real Estate Market Update: January 2014

City of Lethbridge – Single Family Homes

January 2014:

• Sales to active listings ratio: 15% (67/447) 
• For same month last year: 14% (74/526)
• Average sale price: $277,210
• For same month last year: $271,338
• PENDING sales as of this post date: 34

City of Lethbridge – Condos

January 2014:

• Sales to active listings ratio: 8% (10/119)
• For same period last year: 7% (9/122)
• Average sale price: $185,490
• For same month last year: $175,111
• PENDING sales as of this post date: 5

Lethbridge real estate is off to a strong start for 2014, with months’ inventory slightly tighter than this time last year. What’s perhaps more interesting than the exact numbers, however, is the amount of interest in Lethbridge housing during what is typically a sluggish month for real estate. From my side of the desk, buyers are actively scouting homes, and I’m also receiving multiple inquiries from out-of-town prospects.

While this may be an unseasonal blip, some interesting market variables have been at play in recent weeks.Prices are projected to keep rising in western Canada, and this can push people to smaller, more affordable centres like Lethbridge. Mid-month, the big banks also lowered mortgage rates by 10-20 basis points. But it also may be that Lethbridge is simply “on the map” as a top-shelf place to live and work.

*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.

via:http://karriflatla.com/real-estate-market/lethbridge-real-estate-market-update-january-2014/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+karriflatla+%28Karri+Flatla+-+Lethbridge+Real+Estate+Blog%29