If you're looking for Lethbridge real estate, then you've come to the right place!
Lethbridge, Alberta maintains a stable real estate market and economic climate, which makes it a smart choice for those looking to buy and sell properties. Typically, one can expect to find inventory between three hundred to five hundred units to choose from, with the average home selling for about $280,000.
Investors do particularly well in this area, based on the student population from nearby Lethbridge College and the University of Lethbridge. There is a steady growth in population as well as a constant stream of potential tenants looking for rentals. Parents who purchase properties for their children who are students at either institution profit at selling time (when their student graduates).
Buyers (and future sellers) are not limited to the local area. With the transience of students coming to and graduating from their respective schools of higher learning, real estate inevitably changes hands on a regular basis. The Lethbridge Research Centre has made a large contribution to the population and to the economy, and thus, to the Lethbridge real estate market.
Immigration has also played a large role in the market overall, with Canada’s immigration numbers on the rise each year. This allows for a wider buying audience, with possible new owners living in a variety of places worldwide who are interested in living in the Lethbridge area.
The market has doubled recently. The simple economics indicate there are more houses than available buyers. This would normally indicate a buyer’s market; however, with the recent change in mortgage amortization (from 30 years to 25 years), the availability of buyers has also softened. Still, single-family home sales were up 3.8% at the end of last year. It’s also good to keep in mind that Alberta is a large producer of oil. As oil continues to stay in high demand, this could mean major economic growth for the area.
Those who are looking to buy or sell real estate in Lethbridge can benefit from the wisdom of Jeff van de Bennet. Jeff is a licensed Associate Broker who brings over thirty years of experience in customer service and sales to the plate.
In particular, Jeff has spent thirteen successful years assisting out of town home buyers and Lethbridge locals with the buying and selling of their homes and investment properties. He knows the area well and has helped clients through the buying and selling process in a variety of market climates. Specialty areas include in residential listings (new, pre-owned), condominiums, multi-family, investment properties, acreages and commercial sales and leasing.