Naughty & Nice 2019!
We’ve heard less nice and more naughty about the market lately, and there’s some reason for the pouty lips of course, but the current situation may not be as lumpy as some would have us think. We can have some cheer in time for the Holidays!
Market stats for our area actually show an increase in the number of sales for the season. The sales-to-listing ratio overall remains high and still shows us tending towards a Buyer’s Market, but we’re not outside of our 10-year average trend.
The average MLS® sold price for a 3-bedroom residential property (single family dwelling) in Lethbridge was $258,000 in October, as compared to the same month in 2018 at $270,000*. This represents a decrease of 4.44% year over year. So, not a small amount, however, there are a couple things you can do for your home to gain a few dollars in your sale that we can talk about. If you are moving to another location within Lethbridge, remember that the house you are buying is also in the same market. Like with the tide, all the boats tend to rise or lower at the same time – what you may lose on the sale, you hope to gain on your purchase.
Advice for our current market:
Seller’s – make your home appear better than the competition. “Out-standing!”
Buyer’s – You can probably afford to be more picky right now as there’s quite a bit out there to choose from. This is a good time to make your investment count.
*Lethbridge and District Association of REALTORS® Multiple Listing Service® statistics
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