Housing Market in Lloydminster 2011

Happy New Year! I hope the holiday season went well for everyone and their families.

2010 was a great year and so far it looks like 2011 might be an even better one yet. Typically for us in the Real Estate industry it takes until the middle of January for things to get going in housing sales as people are still winding down from Christmas and New Year's. This year so far has been an exception as the amount of phone calls, inquiries, showings, and people buying is much more than that of previous years. Everyone in the oilfield industry of Lloydminster are telling me that they are extremely busy right now and will continue to be all of this year and the next several years. As we all know Lloydminster is somewhat dependant on the oilfield industry, so hearing this is very much a positive thing. If you talk to people in the area they are talking positive again. A year or so ago no one wanted to buy or sell for fear of what may happen in the future (market may go down or they may lose their job). Now the only thing I am hearing is people talking about how busy they are going to be and how they want to buy now before things are too busy and prices go up again.

For now prices haven't changed for some time and for the past year we have been a stable market. Things have been busy but there is still enough inventory on the market that it hasn't caused an increase in pricing. If things are going to go as plan for 2011 though and the inventory starts to get dwindle, we may see a change and home prices start to rise for the first time in a few years (and we all know what that was like before). Although I can't see a huge increase like we had before, it will be interesting to see what this year brings. Whatever may happen though I am expecting this to be the best year yet for myself and everyone else out there. Here's to hoping. Have a great year everyone!!

Shawn Bell

Shawn Bell

Owner
CENTURY 21 Lloydminster Realty
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