We find ourselves reflecting on the part month, and seeing that the Lethbridge Real Estate Market did very well.
In September 2009, we saw that the total sales dollar volume for the month fell short 6% from the same period a year ago.
In October 2009, I am pleased to announce that the total sales dollar volume for the month was up 5%; or $2,009,083 higher than October 2008.
The most interesting fact about this figure is that, the total listings in October were 399, and compared to October 2008, it was 24% lower, or 126 listings less.
With less listings, the Lethbridge real estate market was able to pull through and go beyond what people at the beginning of the year thought was impossible.
The total number of sales in October was 173, with the period a year ago being 170, it is only a 2% increase, yet the total monthly sales exceeds October 2008 by $2 million.
Although October was a great month, the Lethbridge real estate market is still down by 12% for year to date total sales dollar volume.
At the end of October 2009, the year to date total sales dollar volume was $516,093,280 and at the end of October 2008, the year to date total sales dollar volume was at $586,864,229. The difference between these figures is more than $70 million.
The slow start at the beginning of the year is the main cause of this, however with historically low rates, and lack of inventory, it left buyers to deal with what was on the market, and make their purchase accordingly.
As we have now surpassed 2008 levels for monthly sales in October, we can hope this continues into November, and finish of the year with the same trend as well.
Heleen Jacobsen
Broker of Record with InfoMarket Group GMAC Real Estate
www.infomarketgroup.com
