The Lacombe real estate market continues to show strength, mirroring trends across Central Alberta. If you're keeping an eye on the housing market, here's a closer look at November's stats and what they mean for buyers and sellers.
Average Sale Price on the Rise
In November, the average sale price in Lacombe reached $385,000, a significant increase from $331,000 in November 2023. This upward trend reflects the ongoing demand for homes in this vibrant Central Alberta community.
Sales Are Up – More Than Double!
November 2024 saw 23 homes sold, a stark contrast to the 11 homes sold in the same month last year. This increase highlights that demand for housing remains strong, despite challenges like limited inventory.
Active Listings Break the Trend
Here’s where Lacombe stands out from other Central Alberta markets:
Active listings are up.
Last year, there were 43 homes for sale in November. This year, the number rose to 54.
While many other markets are seeing declining inventory, Lacombe’s increase in listings shows that sellers are stepping up to meet buyer demand. And despite the rise in inventory, sales and prices continue to climb—proof that demand is still robust.
Months of Inventory Remain Low
With 2.34 months of inventory, Lacombe is firmly in a seller’s market. For context, a balanced market typically has 4–6 months of inventory, so sellers still hold the advantage in negotiations.
What Does This Mean for You?
Sellers: Lacombe’s market is thriving, and with demand remaining high, now is a great time to list your home.
Buyers: While the market is competitive, the increase in listings gives you more options than in other Central Alberta communities. Act fast to secure your dream home!
Looking Ahead
The Lacombe market is a great example of how high demand and steady inventory can work together to drive sales and prices upward. As we move into December, we’ll be keeping a close eye on these trends.
If you’re curious about how these stats affect your buying or selling decisions, reach out. Stay tuned for next month’s Market Minute for the latest insights!