This is the Most Important Market Update of the year! April was crazy, but showed some really good indicators!

So there is no question that it has been busy, so what does it look like? Before we dive in, remember that we are now comparing numbers against last year when COVID was a couple of months in and the numbers were pretty soft.

Southern Alberta

So across all of Southern Alberta, the amount of transactions were up almost 200%.

Listings across Southern Alberta are down 20% over the same time last year, which is putting pressure on prices and has reduced the average days on market from 102 days in 2020, to 78 days in 2021. Overall, the avg home price increased almost 5% which is a nice controlled number.

City of Lethbridge

In the City of Lethbridge, sales transactions were up over 200% as well.

Listings in the City are down 24% over the same time frame last year and that is once again putting pressure on existing inventory for sale price. After all of those sales, avg sale price only increased 1% which really is good news.

In most other markets, the increase in sales has caused a lot of “panic” buying which is driving the avg sale price up exponentially. Across Southern Alberta our story is not just good, it’s great! We have managed to have a huge uptick in business and more importantly we have managed to keep Buyers and Sellers participating at a controlled level. Great job to all of the Realtors for keeping the market as “true” as possible!

So what is next?

We believe that the strong possibility of government intervention will cause some disruption in the market so the message to all of our clients and to the general public should be to ACT NOW! Both Buyers and Sellers will benefit from getting something done in the near term as it is truly tough to know what it might look like with adjustments to the stress test.

The other incredible part to this story is the fact that although average home prices have gone up, the increase has been controlled. With average home prices after huge sales increases to be hovering in the low 300’s still gives buyers and sellers great opportunity without fear of “overpaying” or “panic buying”. No bubble here folks!

Dallas Harty, RE/MAX Owner goes on to say, “This has been a very interesting last few months with conditions changing rapidly. This really is the most important update we have provided as we see some changes coming that will impact the market. With government intervention almost a guarantee, Buyers and Sellers need to act quickly to take advantage of the really good conditions that exist right now. As the market leaders we want to make sure that families are getting good, quality advice in order to maximize their dollars. Our RE/MAX Brokerage has top producing, full time agents that have tons of experience to help you. Reach out to one of them today as we are ready when you are.”

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.