Lethbridge Real Estate - Market Report for November 2008

By
Real Estate Broker/Owner with MyLethbridgeRealty.com

Balanced Real Estate Market in Lethbridge, AlbertaNovember statistics continue to reflect the balancing of our local market. The number of new listings each month continues to decline from previous months as only those "serious" about selling are putting their homes on the market. Prices have stabilized considerably with a 12 month average sale price of $259,774 across our board.

With this said, I continue to hear buyers say they will wait. My feeling is that the perfect storm has brewed and it is time to take action for these reasons:

1. Inventory is still high, meaning there is a great selection of homes for sale in Lethbridge and the surrounding areas. Although the inventory has passed its peak, there are still many well priced homes to choose from.

2. Interest rates are low. "The Bank of Canada has cut the Target for the Overnight Rate by a total of 225 basis points since December 2007, bringing the rate down to 2.25 per cent."(Source: Housing Market Outlook - Canada Edition - Date Released: Fourth Quarter 2008)

3. CMHC is forecasting modest growth in the real estate market in 2009. "After a 0.8 per cent decline in 2008, Alberta’s average resale price will advance 0.7 per cent in 2009".(Source: Housing Market Outlook - Canada Edition - Date Released: Fourth Quarter 2008)

Timing the Real Estate MarketTrying to time the cycles of the real estate market to perfection is difficult and the exact right moment only becomes clear once it has passed. To take advantage of the opportunities that exist today, visit us at Lethbridge Real Estate.

Lethbridge and District Association of REALTORS®

MLS ® Statistic Report

[NOVEMBER 2008 ]

200820072006%INC/DEC [ 2007 - 2008 ]
Total # of Listings [Month] 354 337 325 5%
Total # of Listings YTD 5980 4859 4196 23%
Total # of Expired Listings [Month] 167 118 68 42%
Total # of Expired Listings YTD 1599 644 626 148%
Total # of Sales [Month] 107 174 224 -39%
Total # of Sales YTD 2479 3002 3351 -17%
Total Sales Dollar Volume [Month] $25,047,605 $41,558,763 $40,426,470 -40%
Total Sales Dollar Volume YTD $612,130,134 $700,059,190 $570,170,815 -13%
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Rainmaker
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Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

great posts Liz.  They should help get you great SEO, I have been doing a little testing and tweaking with my own website and links between active rain and it, sure seems to be effective for me so far.  Let's put little old Lethbridge on the map.  Have a great week! 

Robert May

(Rainbow Realty & Canada First Mortgage)

Dec 03, 2008 02:26 PM #1
Rainer
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Liz Toles
MyLethbridgeRealty.com - Lethbridge, AB
Lethbridge Real Estate

Rob: Thanks for you comments. AR is great for SEO... their PR is solid, so if you keep your content good and make sure to add lots of links back to your site, you will hopefully see your PR increase as well. As of today 17% of all the traffic on my personal site comes from ActiveRain... that's pretty phenomenal for a no cost networking platform! You are on the right track... hang in there and you will reap the rewards!

Dec 03, 2008 03:53 PM #2
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Rainer
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Liz Toles

Lethbridge Real Estate
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