There is no doubt that things are hopping, but to be clear, the market is super busy, But is in control. We need to be a bit careful looking at the data over the next few months as we are now comparing against last year’s initial months of the pandemic. This is important because through that time, of course, activity was suppressed so it will make the year over year increases look over inflated.

So in Feb and the beginning of March we were in very heavy Seller’s market territory and the curve was relatively steep. The good news is that as we progressed through the month, we had plenty of listings come on the market which has softened the pitch a bit. We are definitely still in Seller’s market conditions, however the conditions aren’t extreme as you are hearing about in some of the bigger cities across the country. In fact we are in a very nice spot heading into spring and in fact seen a nice increase of listings come on in the Month of March which has helped balance things out a bit.

So here’s a few numbers,

In Lethbridge and surrounding area, the number of transactions doubled from the same month in 2020. With that came an increase in avg home price of approximately 10%.

For the city of Lethbridge it was a similar story with sales that more than doubled with avg home price increasing about 11%.

We had been predicting a strong uptick for our market for the last couple of years and it looks like our prediction was correct.

So what now?

We would tell anyone that we are predicting that we will be in really nice conditions for the next 6 months and possibly beyond. The conditions really are good for both Buyers and Sellers as Sellers are getting a bit more for their homes and Buyers can still take advantage of historical low lending rates and still some of the lowest average pricing when compared to other markets across the country!

But again, there is no need to panic!

So be sure to reach out to your REMAX REALTOR and speak to them about your situation as they have the expertise to help you. It is when markets are like this when experience really does matter as we know that you really only get one chance!

RE/MAX Real Estate Lethbridge Owner Dallas Harty goes on to say, “It is really important right now to get accurate information about what is happening in the market. In March, we had a record number of clients engage RE/MAX to help them with a plan so they could achieve their Real Estate Goals. Our RE/MAX brokerage continues to lead the way and is the #1 company in southern Alberta. We have over 40 years of local service under our belts and have full-time, top producing agents that can become an asset to Buyers and Sellers. We encourage you to reach out and hear what we can do for you. There is never any implied commitment or obligation as we want you to be knowledgeable about the process and the conditions.”

Reach out for a no obligation consult and market evaluation and let us help you get MORE!  You can call Re/Max Real Estate Lethbridge today 327-2221 or text us at 403-635-8888 or click www.realestatelethbridge.alberta.remax.ca or www.realestatetaber.alberta.remax.ca

This monthly Real Estate Market Report analyzes Southwestern Alberta real estate, more specifically the Lethbridge area. Keep in mind that the information does not indicate the actual value of any particular property. Find out what your home may be worth in today’s market, contact one of RE/MAX Real Estate – Lethbridge’s talented agents by clicking here or for the Taber area click here.