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Lethbridge - January Market Update

Hey Lethbridge! Real Estate last month was better than anticipated - thanks to Mother Nature!! Here’s our January Real Estate Market update for single family homes in Lethbridge. 





Lethbridge overall is in a Balanced to Buyer's Market. 


How do months of inventory impact real estate clients?


Months of inventory are often referenced when determining whether it’s a seller’s market or a buyer’s market:


  • If there are 0-4 months of inventory, meaning that all current listings can expect to be sold within 4 months, it is considered a seller’s market because houses are selling very quickly. In a seller’s market, sellers have the advantage because demand for property exceeds supply.
  • If there are 5-8 months of inventory, it is considered a balanced market. Current listings aren’t selling like hotcakes, but they’re not staying on the market too long either.
  • If there are 9 or more months of inventory, it is considered a buyer’s market because houses are selling slowly. In a buyer’s market, buyers have more negotiating power than sellers do because the supply of listings exceeds the current demand for housing.

These timelines are approximate, but it is generally accepted 6 or more months of inventory represents optimum conditions for buyers!


Now is a great time to buy Lethbridge!! Especially if you are in the $400,000-$500,000 price range!!


 




All of these changes affect home values, including yours. If you want to know the new value of your home.


Click below  for a custom home evaluation.
https://conniegrant.com/home-evaluation.html


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