It’s a red-hot housing market

I bought a house in Lethbridge two years ago this September. I’m really happy about the market here in Lethbridge, I think I purchased my house at a great time. I don’t normally like to copy / paste an entire article, but I’m afraid that the Lethbridge Herald isn’t going to keep this story online for long so here it is:

Housing prices rise and sales volumes soar in the Lethbridge region


Lethbridge Herald

Think you could handle a 35 per cent sales hike this month?

That’s what Lethbridge-area real estate personnel generated last month, as home sales in the city and across the region continued well ahead of last year’s pace. With 282 sales completed during the month — up 35 per cent from the 209 changing hands a year earlier — April sales were nearly $12 million ahead of April 2003.

But Brent Black, president of the Lethbridge Real Estate Board, points out the month followed a trend set in March when the 325 properties sold through MLS listings represented a 58 per cent jump over the same month last year.

January and February were also significantly ahead of the first months of 2003.

“We’ve got a strong, exciting year going here,” he says.

Selling prices are also on the rise, Black points out. In Lethbridge, where 143 homes were sold, the average price rose close to $148,000 last month compared with $138,000 a year ago.

But home sellers in many towns and rural areas reaped an increase as well. And well over half the homes sold — whether in the city or surrounding area — were priced in the $100,000 to $160,000 band.

“Every jurisdiction in our area was up in April,” says Black, either in unit sales or dollar volume.

One of the biggest jumps came in the county of Willow Creek, where five homes sold at an average $144,000 compared with $115,000 a year ago. In Cardston and surrounding county, six homes sold for an average better than $114,000 last month compared with three homes averaging $87,000 a year earlier.

And in the Crowsnest Pass, 14 homes changed hands for an average $109,000 vs. five homes at $102,500 last year.

Other areas reported higher sales with less of a price hike. In Taber and area, seven homes sold at an average $98,000, up from three at $97,000.

In Warner county, it was five sales averaging $86,500 this year; four at $83,700 a year ago.

In Pincher Creek, meanwhile, sales were up (from three to seven) but values were down and the same was true in Lethbridge county towns and rural areas, where home sales increased to 21 from 16.

On a region-wide basis, the board reports the $120,000-to-$140,000 price group was by far the busiest with 60 sales. Next highest numbers were in the $100,000-to-$120,000 group (43 sales) and the $140,000-to-$160,000 group (42 sales).

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