Lethbridge real estate
Prices in Lethbridge are still under downward pressure. Housing inventory in the City remains above normal and sustainable levels. Today's activity through the real estate board included:
September 27, 2011 Activity at Lethbridge Real Estate Board
24 New Listings
6 Conditionally Sold listings
5 Cancelled Listings
6 Sold Listings
24 Price Changes
In summary, an increase of only 6 new listings and 24 price reductions, however when that happens day after day in the local real estate market, it has a cumulative effect that is enormous.
As we head into our winter season in the near future, sales start to drop dramatically in Lethbridge real estate. The influx of sellers also slows, but not as much as the buying dries up. I expect to see the housing inventory continue to remain well above average in numbers and expect to also see many more price reductions coming on a daily basis. The market does not care how much you paid 3 years ago, how much you owe on your mortgage, or how much you want to get in your pocket.
Only serious sellers who price their home properly will see it successfully sell before it slips farther in value. So price it right people and hire yourself a real estate salesperson who does more than blow smoke up your butt and make excuses why they spend more time trying to get your to reduce your price instead of actually trying to sell your houses. Price it right and it will sell!
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.