First glance at some of the numbers in Lacombe and a 20% decrease in volume year over year is pretty staggering. No small decline at all. Breaking down teh activity the benchmark year fro economic downturn was 2009. Back in 2009, though Lacombe actually recorded growth of 2008. Really adding weight to "real estate is local". The ten year average for Lacombe is 244 MLS residential sales. The closest sales volume year for Lacombe was 2008, which was the start of teh global financial crisis. Most of Alberta didn't feel that until late 2008 and then 2009.
Lacombe was a buyers market in 2015. The Sales to New Listings Ratio was 48%. While challenging for sellers that challenge wasn't really felt until the fall. The Summer and spring months were quite boisterous. Sales volumes increased in teh Spring as you might expect and stayed stable and strong until the end of August.
Buyers hesitant to purchase, should look at Lacombe. Many listings are loaded with value, and your bang for your buck versus other centers is strong.
Where does Lacombe rank for affordability?
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