As we moved into January of 2019, some of the same Real Estate conditions that we had seen in the latter half of 2018 persisted. The Mortgage Stress Test continues to be a challenge for first time buyers or for buyers who are looking to move up. Sales across all inventory types were down approximately 10 percent, which is comparing January 2018 to January 2019.
For the sales in January, it was the homes in the $250,000 to $300,000 range that were the most active. In Lethbridge Real Estate, the west side and south sides saw the most sales, with the north side seeing the least amount of activity. Overall, this is still a great time to purchase a home in Southern Alberta! Across many price-points, we are in a “Buyers Market” territory for sure, however there are pockets of very “hot” sales activity.
In our local Lethbridge Real Estate market, we have many positive things happening that will be sure to keep our market strong as we move into the rest of 2019. It is a great time to be purchasing Real Estate in Lethbridge and surrounding area.
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.
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