We continue to see the market in Southern Alberta show strength, however there is definitely some change happening. In General we are watching the leading indicators which is the building of listing inventory, as well as price reductions. Over the past month we have seen both of these increase, which has definitely taken us out of the “extreme” conditions that we were in a while back. We have provided some overall stats below for both Southern Alberta and the City of Lethbridge for the month of April.

Southern Alberta

The number of transactions when compared to 2021, was down 6.5%. The average sale price increased 9% over the previous year and the number of listings continues to be down about 25%. Interesting but not surprising that the sale price to list price ratio is at a new high reaching almost 99%.

City of Lethbridge

The number of transactions in the city were down slightly showing a 4% decrease year over year. The average sale price in Lethbridge across all types increased almost 14% and the number of listings is down 20%. Our hot Seller market is reflected in Sale price to List Price ratio which is as high as it has ever been at 99.5%

What might lie ahead?

Well as the numbers continue to tell a story, we think that although we expect to see some moderate cooling, we still expect the market to be strong over the next little while. Even after many months of increasing prices, our average home price is still very reasonable and in fact looks exceptional when compared with many metro markets across the country. We think that spring listings will continue to come on the market. Having more listings, coupled with what we think will be another significant increase in the lending rates, will undoubtedly soften the market a bit. We believe the peak of the market was several weeks back and we now see a more moderate Sellers Market continuing over the next while.

Owners Message

Dallas Harty says, “Southern Alberta continues to perform well and is showing very steady gains. With an increase in listings on the market, this is a really good time to take advantage of a strong Sellers Market. The market itself is very tricky at the moment, as the changing conditions are creating some unique challenges, but also some great opportunities.  We are in a time where it is really important to work with a knowledgeable, experienced Brokerage/Agent to get you the most from your experience. A mistake in listing price in these types of conditions, can cause Sellers to leave money on the table. It is more important than ever that you are using a Full Time, experienced agent that understands the market conditions in real time, to make sure you are getting the most for your home. We are proud of our track record and continue to deliver results to our clients. We want to congratulate all of our RE/MAX agents and support staff as we once again, were #1 in the market for Buyers and Sellers in Southern Alberta. We are proud to have served the area for the past 41 years and would look forward to the opportunity to meet with you and your family. Market evaluations and consultations are free and there is no obligation. Reach out today and let us help you get more.”

For a no obligation consult and market evaluation, 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.