Lethbridge real estate market could be more balanced by September

However, she adds that realtors remain busy.

“It’s not a huge decrease because we started off with such high gains in the year-to-date sales early on,” says Maxwell. “We were sitting at slightly higher than last year’s record, so we’re seeing a decrease in these three months now, but it’s still higher than what it was last year.”

There are currently 2.4 months worth of inventory in the local real estate market, meaning that if homes continued to sell at the current rate and no new properties were listed, it would take that long to clear out everything that is up for sale right now.

Although Lethbridge remains firmly in a seller’s market at the moment, Maxwell thinks that could change by the summer’s end.

“As more inventory comes on and the interest rates go up a little bit, that tends to even out into a more balanced market between buyers and sellers.”

If this were to happen, Maxwell says it could lead to home prices coming down somewhat.

The good news for both buyers and sellers, Maxwell adds, is that Lethbridge has a strong, stable, and diverse economy that makes it less prone to the large economic fluctuations seen in some other parts of Alberta.

by David Opinko

Lethbridge real estate market could be more balanced by September

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