Connect with us

Real eState

Booming real estate market continues in Lethbridge – Globalnews.ca

Published

 on


Despite many still struggling due to the COVID-19 pandemic, at least one industry seems to be thriving.

“It’s been the busiest year that I’ve seen in real estate in the last 13 years, it’s just absolutely bonkers,” said Courteny Atkinson, CEO with the Atkinson Team at eXp Realty.

He said Lethbridge and the surrounding area is seeing a significant ump from last year.

“The market is up 37 per cent when you look at transaction volume for 2020 in the county and City of Lethbridge from last year, so that’s quite a bit.”

The Alberta Real Estate Association’s chief economist, Ann-Marie Lurie, said the province is seeing a similar trend.

“If we look at Alberta’s numbers, we are on pace to hit a record level of sales this year.”

Read more:

What to expect when buying a home in southern Alberta’s ‘hot market’

Lurie added while other areas of the province have had big ups and downs over the past 10 years, Lethbridge has been on a steady climb.

“You [Lethbridge] never went through that pull back that some areas felt back in 2015 and 2016, because your economy is a little different in Lethbridge.

“You’ve seen steady price gains and you are sitting this year with price gains on a year-to-year basis for detached homes that’s over eight per cent.”


Click to play video: 'Home sales in Lethbridge continue to hit record highs: analysts'



1:52
Home sales in Lethbridge continue to hit record highs: analysts


Home sales in Lethbridge continue to hit record highs: analysts – Aug 5, 2021

According to the Lethbridge and District Association of Realtors, in November alone 153 homes were listed with 154 sold. Atkinson said with more people looking to buy then sell, the price for homes continues to climb.

“The average price point is around $340,000. It’s not up dramatically, we were about $325,000 last year.”

Read more:

Lethbridge real estate market sees spike in buying and selling amid COVID-19 pandemic

He added the supply chain disruptions and losing highways in B.C due to flooding has caused issues and delays for new home builds, pushing some people to go with a re-sale instead.

“Those folks simply don’t want to wait a year, year-and-a-half and in some cases two years, depending on the type of build, to get into their new home so instead they are looking at that resale market and that’s just increasing the demand.”

Atkinson said for those looking to buy, the market is moving fast with the average days on the market in Lethbridge going from 80 days last year to about 55 this year.


Click to play video: 'Lethbridge real estate market sees spike in buying and selling amid COVID-19 pandemic'



2:09
Lethbridge real estate market sees spike in buying and selling amid COVID-19 pandemic


Lethbridge real estate market sees spike in buying and selling amid COVID-19 pandemic – Jan 6, 2021

© 2021 Global News, a division of Corus Entertainment Inc.

Adblock test (Why?)



Source link

Continue Reading

Real eState

Canadian Real Estate Prices Jump Another $17,000 and Growth Is Accelerating – Better Dwelling

Published

 on


[unable to retrieve full-text content]

Canadian Real Estate Prices Jump Another $17,000 and Growth Is Accelerating  Better Dwelling



Source link

Continue Reading

Real eState

Canadian home sales up 0.2% in December

Published

 on

Canadian home sales rose 0.2% in December from November even as supply fell to a record low level, data from the Canadian Real Estate Association showed on Monday.

The national average selling price was C$713,500 ($569,161) in December, up 17.7% from a year earlier, the industry group said.

($1 = 1.2536 Canadian dollars)

 

(Reporting by Julie Gordon in Ottawa)

Continue Reading

Real eState

New analytics tool helps companies take the guesswork out of their real estate needs – Business in Vancouver

Published

 on


New analytics tool helps companies take the guesswork out of their real estate needs – Real Estate | Business in Vancouver


Adblock test (Why?)



Source link

Continue Reading

Trending