“Southern Alberta’s Real Estate market is on fire” should be the headline. So what just happened? Well what happened is that our Southern Alberta Real Estate market, that we have been touting for the last years has finally come alive!

So, if you remember back to May and June, we had talked about how strong and resilient our market was and that we were confident that the summer and fall months would provide great opportunity for Buyers and Sellers. We believe that our prediction was solid, and we are seeing a very interesting shift happening. Not only was Sept good, it set a record for the amount of sales transactions across Southern Alberta.

So now that we all know the market is flying…what does that really mean? One of the numbers that we watch very closely is “Absorption Rate” as we believe it really is the best number to tell the story. This number represents the amount of homes (by way of percentage) that are absorbed from for sale to sold during a specific time. Over the past few years there has been many times where our number has been in the single digits. When the number is between 15 and 20, it signals pretty good balance. We are currently just over 20 which does in fact represent very nice balance and in fact, is beginning to lean towards a sellers market. Some of the things that have happened as we head towards sellers market is that the number of listings have tightened up and if the amount of new construction inventory doesn’t grow and this puts positive pricing pressure on homes that are listed. So, in many spots we have more Buyers looking for a particular product than there are available homes.

If you have ever thought of selling…the conditions are as strong now as we have seen them in years as Buyers take advantage of low mortgage rates and relatively affordable average home prices at this point.

Dallas T Harty, Re/Max Lethbridge Real Estate Busness Owner stated, “Overall, we are very pleased with our local market and expect sales to continue to be strong through the fall months.  In fact, we predict the month of October to potentially be another record month for sales.                

REMAX has had an incredibly strong last few months as many clients leaned on the Tools, the network of Top Agents and their unrivaled experience to handle their Real Estate needs. After 40 years…we have set an all-time record for home sales from Jan to Sept so far!

We are fortunate that we are able to draw on our 40 years of local service and our amazing group of 65+ Realtors to ensure we can maintain the highest level of service during this time. We are ready to serve and if you have questions about your situation please be sure to get in touch with us.”    

You can call Re/Max Real Estate Lethbridge today 327-2221 or text us at 403-635-8888 or click www.realestatelethbridge.remax.ca or www.realestatetaber.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.