Lethbridge in a “buyer’s market” in 2019

Jul 12, 2019 | 1:08 PM

LETHBRIDGE, AB – The Lethbridge and District Association of Realtors (LADAR) says things continue to look up for the city’s housing market.

Executive Officer Cathy Maxwell says the average home price in the first half of this year was $286,000, which is slightly above the same period in 2018.

1,263 houses were sold in the first six months of 2019, while last year, there were 1,260 sold at this point.

“The price range that seems the be the biggest turnover is around like the $220,000-$280,000 price range, that’s a big turnover. We have seen an increase in the number of sales between half-a-million and $750,000.”

In total, real estate transactions are worth $363.9-million so far this year, which is up from $347-million in 2018.

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While the stress test that was originally just meant for larger markets like Vancouver and Toronto have impacted home sales in the Lethbridge area, Maxwell reports that the city seems to be fairing pretty well despite it.

“We’ve got a decent economy, we’ve got good diversification of manufacturing, we’ve got the schools, we’ve got healthcare, we’ve got a good diversification and that makes a solid, reliable economy.”

The trend in the first half of this year is that Lethbridge has been holding its own and Maxwell expects that to continue for the rest of the year.

by David Opinko