LETHBRIDGE: The sale of single-family homes in Lethbridge took a hit at the start of the year.
Sales for the first quarter of 2011 were down about 15-per cent from the same time in 2010, falling from 482 sales to 411.
President of the Lethbridge and District Association of Realtors Rick Braden, explained that they're blaming the cold weather and snow that started off 2011. He stated that when the weather's ugly, buyers aren't in a rush to look at homes.
He did note however that in the last few weeks since temperatures started climbing, they're once again seeing increased activity. Braden commented that spring is always a busy time of year for them, and 2011 doesn't look to be any different.
As for the average sale price of homes in Lethbridge. Braden acknowledged that as somewhat of a suprise, prices are almost exactly the same as last year. He noted that the average stands at about $280,000 and is roughly $10 off what it was during the first quarter of 2010.
While Braden explained that they're not 100-per cent sure why it stayed up, he feels it's likely because of a strong local economy. In his opinion, that gave sellers the confidence to keep their prices where they were and wait for the buyers to return.