Decline in home sales offset by increase in dollar volume, according to LDAR
LETHBRIDGE – Despite a down month of September and a slight drop in the overall number of homes sold this year, the local real estate market remains solid, according to the Lethbridge and District Association of Realtors (LDAR).
Through the first three quarters of 2017, 2,115 homes have been sold in the Lethbridge and district area, down about two-per cent from the 2,164 homes sold during the same span in 2016. For September alone, the drop was about 9.5-per cent.
Lethbridge Real Estate Board Executive Director, Cathy Maxwell, says the news isn’t all bad though, stating that the total dollar volume of homes sold so far this year is actually up a small amount, sitting at $597-million, compared to $596-million in 2016.
When looking for possible reasons for the downturn in sales, Maxwell pointed to one in particular.