Lethbridge's March Housing Market Madness Update

Welcome to the March housing market update for Lethbridge, Alberta! As the Compass Team, we are excited to bring you the latest information on the real estate market in our city.   Let's start with the average price of homes in Lethbridge, which is currently at $341,952. This is a slight decrease from February, but it's important to note that different types of homes have seen different changes in price. For example, detached homes have seen a 4.4% decrease from February, while semi-detached homes are at a 36-month high. Apartments have also seen a significant increase, with prices up 27.6% from February, and townhouses have increased by 6.3%. The list to sold ratio is at an impressive 97.80%, indicating a strong sellers market. The average days on the market has also decreased, from 83 in February to 64 in March. This means that homes are selling faster, and there are fewer days for potential buyers to make a decision. There were 224 new listings in March, bringing the total number of current listings to 445. While this is just under half of the historical average, it's important to note that there were still 151 homes sold in March, with a total value sold of $51,634,794. This shows that despite lower inventory, the real estate market in Lethbridge is still active and vibrant. The supply of homes is currently at 3 months, which is traditionally much lower than the average of 7 months. This means that there is still a strong seller's market, with high demand for homes and low inventory. Comparing Lethbridge to Calgary, we see that the average price of homes in Calgary is significantly higher, at $536,684, which is a 56.9% increase from Lethbridge. The average price of detached homes in Calgary is even higher, at $706,850, which is a staggering 91.4% increase from Lethbridge. This makes Lethbridge an attractive option for those looking for more affordable housing options. In conclusion, the real estate market in Lethbridge is still strong, with a high demand for homes and low inventory. While some types of homes have seen price decreases, others have seen significant increases, showing a diverse market. When compared to Calgary, Lethbridge offers more affordable housing options. If you're interested in buying or selling a home in Lethbridge or Southern Alberta, we encourage you to contact the Compass Team. Our team of experienced professionals is ready to assist you with all of your real estate needs.

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Lethbridge Public Library Crossings Branch to expand

  LETHBRIDGE, AB – New and upgraded spaces are set to be installed at the library in west Lethbridge this year. The Lethbridge Public Library has announced an expansion and enhancement of its Crossings Branch. The project will utilize approximately 2,500 square feet of currently-unused space adjacent to the library. Manager of Branch Services Sarah Head said the renovation will allow them to better serve the quickly-growing community on the west side. “Through the expansion and enhancement, we are able to maximize our current spaces by providing dedicated and improved areas specific to customer needs, including the Indigenous community and youth,” said Head. “We are especially grateful to the Friends of the Library whose generosity has afforded us the ability to significantly improve the furnishings in our children’s area.” According to a news release from the Lethbridge Public Library, the expansion and enhancement project will include: An expanded and re-located children’s area that includes programming space and easy access to washroom facilities and staff support. An improved and re-located teen space that provides dedicated areas for different uses of the space with teen-friendly amenities. An Indigenous gathering space, which welcomes all visitors while honouring the traditional knowledge and occupants of the land the library is on. Additional public washrooms. Additional staff working space to accommodate the expanded staffing of the branch over the last several years. A strategic redesign of the library interior to provide better access to washrooms and staff support. Additional furniture and collections that meet the needs of the west Lethbridge population. The Crossings Branch expansion project is funding by the City of Lethbridge Capital Improvement Program, the City of Lethbridge Library Board, and a donation from the Friends of Lethbridge Public Library. The total cost of the project is $1,050,000, but officials say $212,000 of that was already spent on an upgrade to the library’s HVAC system in 2018. City Councillor Ryan Parker said he is pleased to see that this initiative will soon by underway. “This is great news for our community, as the designs will provide some additional space and upgrades to serve a growing population and need for services,” said Parker. “Council is thrilled to support this through its Capital Improvement Program funding.” Construction on the library expansion and enhancement is set to begin at the end of March and is expected to be completed by the end of 2023.

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How to Stage an Unused Basement

How to Stage an Unused Basement What happens when you’re getting ready to stage your home and find yourself grappling with … gasp … an unused basement? For a home that’s staged to the tenth degree and set up to showcase its gleaming marble and lavish entertainment spaces, a basement that’s sitting empty is kind of a downer. Here’s how to show off its potential to buyers: Mimic a guest suite. If you have the space, why not subtly suggest to potential buyers that the basement could act as a nanny suite or opulent guestroom? Set up a bed, a reading nook and a small bistro or seating area, and maybe even a cocktail bar or coffee cart. Suggest the perfect spot for a home cinema. Make buyers see the space as a potential place to kick back and enjoy some cocktails and a Netflix marathon, especially on a snowy or rainy weekend. Some well-placed armchairs and a flat-screen TV might get their imaginations going. Bonus points if you set out a coffee table with a bottle of wine in an ice bucket and some snacks. Upgrade your laundry. Sometimes the best thing to do with a large-scale unused space is to turn it into the laundry room of your dreams. Buyers put a lot of stock into laundry rooms that are both functional and pleasant to be in. So splurge on full-size appliances, upgrade the flooring tiles and make sure to include plenty of space for folding, hanging and storage.

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