Sales in the city of Lethbridge continued to trend up this month as slower sales in the initial shutdown period are shifting into summer months. July recorded 206 sales in the city of Lethbridge, AB...the strongest July since 2006! While it was not enough to offset earlier losses and sales remain below last year's levels, unlike other areas, year-to-date sales activity is only slightly lower than the longer-term averages.
In July, we also saw that some of the sellers were returning to the market as new listings trended up over the previous month and were higher than last year's levels. However, the gains were not enough to cause any significant change in inventory levels, and months of supply remain lower than levels recorded in Lethbridge before COVID-19 weighed on the market.
The relatively tighter market conditions have helped ease some of the downward pressure on prices as year to date prices remain relatively stable compared to last year.