Last week, Lethbridge and District Association of REALTORS issued their MLS Statistic Report for last month. Here are some highlights from that report.
March 2014
| Sector | Listings | Sales | S/L Ratio | Avg. sale price |
| Northside | 76 | 27 | 35% | $222,759 |
| Southside | 60 | 31 | 51% | $273,501 |
| Westside | 123 | 60 | 48% | $285,225 |
Year to date 2014
| Sector | Listings | Sales | S/L Ratio | Avg. sale price |
| Northside | 179 | 74 | 41% | $226,133 |
| Southside | 175 | 103 | 58% | $269,136 |
| Westside | 324 | 112 | 34% | $289,892 |
March 2013
| Sector | Listings | Sales | S/L Ratio | Avg. sale price |
| Northside | 75 | 32 | 42% | $196,409 |
| Southside | 84 | 39 | 46% | $269,607 |
| Westside | 98 | 53 | 54% | $281,640 |
Year to date 2013
| Sector | Listings | Sales | S/L Ratio | Avg. sale price |
| Northside | 178 | 70 | 39% | $202,872 |
| Southside | 223 | 87 | 39% | $268,515 |
| Westside | 376 | 157 | 41% | $274,457 |
There are a few things to note from these statistics:
- The number of listings on the Westside increased significantly last month compared to March 2013 and compared to the other two sectors. Even so, the number of units sold dropped slightly, meaning the proportion of homes selling on the Westside has gone down.
- Northside listings have remained roughly the same, but sales have dropped as well—although not as significantly as the Westside.
- The proportion of Southside listings that sold last month went up compared to this time last year, the only sector to see this type of growth.
- Home prices have increased both in year-to-date and month measurement over 2013 in all sectors. That being said, the increases are minor and are likely normal increases in property value, not because of an impending housing bubble.
As far as housing types go, listings and sales stayed relatively the same compared to March 2013, except for the following:
- Half duplexes: Double the listings and triple the sales
- Fourplexes: Half the listings, but the same sales
- Townhomes: Listings similar, but a third of the sales
These numbers are hardly significant considering total units listed is up by only 5% and total units sold is down by only 4%. As well, the average housing price in the entire city went up by only $13,000. That being said, it took about 72 days on average to sell a home last month compared to March 2013, when it took 74 days.
So what does it all mean?
It means it’s a great time to buy a house! There are hundreds of homes on the market, housing prices are stable but rising slightly, and you can move into your new place within a couple of months.
Contact Mortgage Design Group today to talk about how we can help you get into the house you want.