REAL ESTATE UPDATE
“Sales continued to surge this month, pushing year-to-date sales up to 736 units. Not only is this a record start to the year but reflects sales that are over 66 per cent higher than long-term averages. Lethbridge has continued to see a steady rise in employment levels since the lows of the pandemic. The improving job market, low mortgage rates and some sense of urgency given concerns over rising mortgage rates and potential rule changes are likely contributing to the jump in sales.
While new listings did reach levels that have been higher than what was seen over the past four years, the strong pace of sales was enough to prevent any significant additions to inventory levels and keep the months of supply just above two months. This is the lowest level of months of supply seen since 2007. While some shifts in distribution are likely impacting prices, generally prices in the area have been trending up. On a year-to-date basis, both median and average prices have increased by nearly 10 per cent.”
https://www.albertarealtor.ca/page/alberta-statistics