June real estate market report for Lethbridge

by | Jul 2, 2014 | Housing market, Lethbridge

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Earlier this week, Lethbridge and District Association of REALTORS issued their MLS Statistic Report for June. Here are some highlights from that report.

June 2014

Sector Listings Sales S/L Ratio Avg. sale price
Northside 62 33 53% $203,198
Southside 67 56 83% $316,372
Westside 109 84 77% $288,176

Year to date 2014

Sector Listings Sales S/L Ratio Avg. sale price
Northside 373 195 52% $220,755
Southside 409 253 61% $286,995
Westside 718 353 49% $290,144

June 2013

Sector Listings Sales S/L Ratio Avg. sale price
Northside 50 30 60% $223,888
Southside 68 54 79% $280,951
Westside 120 75 62% $297,766

Year to date 2013

Sector Listings Sales S/L Ratio Avg. sale price
Northside 344 172 50% $217,246
Southside 455 243 53% $269,766
Westside 745 376 50% $285,559

There are a few things to note from these statistics:

  • The number of listings on the Westside and Northside increased significantly last month compared to June 2013. The number of units sold, on the other hand, went up for only the Westside.
  • The ratio of houses listed to houses sold increased for the Southside and Westside, but dropped slightly for the Northside.
  • House prices increased over the last year for the Southside, but dropped for the other two sectors. That being said, year-to-date prices have increased for all three areas of the city compared to this same point in 2013.
  • Listings and sales were up for single-family detached homes, townhomes, and mobile homes compared to June 2013.
  • The number of half duplexes and other medium-density housing options listed last month were stable or slightly lower.
  • For all housing types except half duplexes, the time between listing and selling had reduced, meaning properties sold more quickly.
  • Total units listed were up by 7%.

So what does it all mean?
It means it’s still a great time to buy a house! There is a solid inventory of homes on the market, even more than last June. That being said, more sold, too, and the number sold to the number listed is up slightly, meaning that homes are more likely to sell now than they did last year. Plus, they’re selling more quickly, too. Home prices are still pretty stable, so it’s a perfect time to get in before prices go up.
Contact Mortgage Design Group today to talk about how we can help you get into the house you want.