Jeff van de Bennet's blog

Supply is down, demand is up and prices are up. 
DECEMBER, 2024 LETHBRIDGE REAL ESTATE STATS. 
 

Residential sales in Lethbridge have increased by 7%, but the standout statistic is a 20% rise in sales volume, fueled by a 12% uptick in average sale prices. Homes are also selling more quickly, thanks to historically low inventory levels in 2024.
Looking ahead to 2025, the outlook remains strong, with expectations of continued price growth and limited inventory. Although new government initiatives aim to improve affordability, the local market's supply-and-demand dynamics suggest steady
price appreciation will persist.

As we wrap up the year, we’re filled with gratitude and excitement! November 2024 was a standout month, with strong sales compared to last year. While monthly stats give us a useful snapshot, looking at the year-to-date numbers reveals
an even more compelling story: overall sales volume in 2024 has significantly outpaced 2023.

Lethbridge Real Estate Market Update

On the real estate front sales volume remains robust - 2024 YTD sales volume is up 19% from 2023 YTD!

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Downsizing your home can feel overwhelming at first, but it doesn’t have to be a stressful experience.
Whether you're an empty nester, retiring, or simply looking to simplify your life, a little planning goes a long way toward making the transition smooth.

Why Downsizing is Worth Considering:
One of the major benefits of downsizing is the opportunity to free up time and financial resources. A smaller home typically means lower mortgage payments, utility bills, and maintenance costs, giving you the freedom to focus on what truly matters.

Step-by-Step Tips for a Stress-Free Downsizing...

The Lethbridge real estate market for the period from September 1 to October 1, 2024, continued to show signs of growth, reflecting trends seen across much of Alberta.
The market remained a seller's market, with limited supply. As of late August, Lethbridge had only 1.85 months of supply, meaning that if sales continued at the current pace, available properties would be cleared within less than two months.
This low inventory keeps pressure on prices to remain high.
The number of listings and sales remained strong. In August, there were 219 new listings and 195 completed sales, and the pace...

More homes are selling, and properties are spending fewer days on the market. Average sale prices have increased.
Interest rates have dropped to 4.25%. This all points to a very healthy market. Let me know if you're considering making a move!

The summer months have brought a steady stream of motivated buyers, and with interest rates holding steady and even beginning to decrease, we're seeing continued high demand in residential. While many are on holidays or taking it easy during the last bit of summer this is an opportune time to get your home ready to sell. Properties that are priced right and presented well are still attracting considerable attention and multiple offers. 

If this trend continues, Prices will continue to climb based on these stats!

What you buy is also very important! Make more money buyingTHE RIGHT HOUSE!