Robert W. May's tumblr Blog

head_left_image

Lethbridge Real Estate - Market Update

Lethbridge Real Estate - Market Update

 

The following information has been collected and transmitted by CMHC regarding statistics for the Lethbridge and area real estate market.  As a Lethbridge real estate professional I try to stay in touch with these trends as they influence the future of our market and local home prices.  If you have any questions, my contact info is below.

 

Robert May

 

 

2010 Q2

Sales: Lethbridge sales decreased by 32 per cent from 302 in June 2009 to 206 units this June. In the second quarter, sales were down by 19 per cent compared to the previous year. On a year-to-date basis, sales declined by 5 per cent from 1,103 in 2009 to 1,053 units by mid-year 2010. A higher level of transactions in the first three months of the year pushed the year-to-date figure up. Overall, the weaker level of sales in the second quarter continued to lower the sales trend.

New Listings increased year-over-year in the second quarter. On average, 512 new homes were listed for sale in any given month in the second quarter compared to 446 in the same period last year, representing an increase of 15 per cent. New listings were trending upwards in second quarter.

Active Listings: At the end of June, 1,059 homes were listed for sale on the resale market versus 809 in June 2009, representing an increase of over 23 per cent. Active listings continued to trend higher in the second quarter due to year-over-year gains in June (+30 per cent).
Sale-to-Active Listings Ratio (SALR): Weaker sales and higher active listings pushed the SALR downwards in the second quarter. The SALR was at 19 per cent this June and trending lower during the second quarter.

Prices: The monthly average price for all unit types in June was $239,345, a 2 per cent decline from June 2009. The average price of a single-family home was $261,500 in June, seven per cent lower year-over-year, which contributed to the overall decline. Overall, the average price trend was slightly increasing in the second quarter.

Recommendation: Lower sales, combined with increasing active listings have recently put some downward pressure on price. The SALR decreased, moving into a buyers’ market territory. The sales-to-new listings ratio decreased as well to 38 per cent in June, also representing a buyers’ market. Accordingly, the Lethbridge resale market has been reclassified from a balanced market conditions to BUYERS’ market conditions.

lethbridge real estate market

lethbridge real estate

lethbridge realtor

Robert W May is a Real Estate Broker in Lethbridge Alberta, having now been in the industry for over 23 years. . He was also a licensed Lethbridge mortgage broker and financing expert with Canada First Mortgage of Calgary Alberta for the past 10 years.  He is an industry leader always willing to help train and educate others in how to improve their business models for financial and personal benefit.




 

 

Comment balloon 0 commentsRobert May • July 28 2010 06:15PM
Lethbridge Real Estate - Market Update
share
Lethbridge Real Estate - Market Update The following information has been collected and transmitted by CMHC regarding statistics for the Lethbridge and area real estate market. As a Lethbridge real estate professional I try to stay in… more
Lethbridge Real Estate - July Internet Search
share
Lethbridge Real Estate - Searching the Internet An increasing number of people in Lethbridge search the internet for real estate. The type and variety of searches is still relatively small compared to larger real estate markets, but… more
Lethbridge Real Estate
share
Lethbridge Real Estate more
Lethbridge Real Estate - My Local Videos
share
Lethbridge Real Estate - My Local Videos So I was just messing around on Youtube with a couple of videos and managed to find a cool way to make a playlist of your videos, which you can them embed into your blog. The cool thing… more
Lethbridge Real Estate - Searching The Internet
share
Lethbridge Real Estate - Searching the Internet An increasing number of people in Lethbridge search the internet for real estate. The type and variety of searches is still relatively small compared to larger real estate markets, but… more
It's REALTOR not RELATOR!
share
Lethbridge Real Estate It drives me crazy when I hear people refer to REALTOR's as RELATORS. Sure it is a simple mispronounciation and the average consumer may not even catch it, but it drives me crazy. Industry members however have… more
Lethbridge Real Estate - Estate Sale
share
Lethbridge Real Estate - Estate Sale This home MUST be sold! Bring offers and let's see what we can do! Oversized fully fenced lot with mature trees, over 1100 square foot home, lots of mechanical upgrades to the house,… more
Lethbridge Real Estate
share
Lethbridge Real Estate - I have had a busy weekend. I have a few hot new listings which will be hitting the market in the next few days, I alwo have a few qualified and eager buyers who are shopping for great properties in Lethbridge. … more
Lethbridge Real Estate - Lethbridge Weather
share
Lethbridge weather - some people say it is always windy in Lethbridge, but that is not true. Sometimes it pours rain for days at a time too. Check out this cute pic that I took. The trout pond is supposed to be 17km up the road, but… more
Lethbridge Real Estate - Lethbridge Gardening
share
Lethbridge real estate - Lethbridge gardening There was a time, not so long ago, that buyers actually were looking for property that had a well located and vegetable producing garden. I recall as a kid, we had a family plot of land… more