Lethbridge a “buyer’s market” for real estate right now
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For those looking to purchase a home right now in Lethbridge, it really is a buyer’s market out there.
Cathy Maxwell with the Lethbridge and District Association of Realtors says there’s about seven months worth of inventory of the local market at the moment, so if you’re selling your home make sure it’s priced right.
“If you’re serious (about selling), you have to have that house prepared, in tip-top shape, have it priced correctly and competitively if you really want to have it outshine the other homes on the market.”, says Maxwell.
Maxwell says there is plenty of choice for those looking to buy. The average selling price for a home in the city is around $267,000 which is virtually the same as it was at this same time in 2018.
Maxwell notes there have been fewer sales this year compared to last, however the dollar volume is up close to 5% which is good.
The seven months of worth of listings currently on the Lethbridge market is down from 12 months at the start of this year. Maxwell says that is a positive.
July is typically a slower month for real estate sales with people away on summer holidays and Maxwell expects things should start to pick up again in the fall.