A new analysis shows how housing prices have changed on a daily basis in Lethbridge for 2023. (Photo: Lethbridge News Now)

By David Opinko

Lethbridge home prices rose $126 every day in 2023: study

Feb 8, 2024 | 10:36 AM

LETHBRIDGE, AB – A new analysis is providing another way to look at recent changes in housing prices.

Point2Homes has compared the prices of single family homes and both apartments and condos for 2022 and 2023 in the 67 largest Canadian cities. The group then gives a breakdown of how much those prices have changed per day during that period.

In Lethbridge, they found that houses sold for an average price of $415,603 in 2023, rising by 12.5 per cent or $46,153 over the year prior.

That means, every day, the value of homes in the city increased by $126 every day.

Of the five communities in Alberta that were included in the study, Lethbridge was the second most affordable. Calgary topped the list with homes going for an average of $662,250 (up $201 daily), while Red Deer was the cheapest at $381,984 (up $33 daily).

What's Happening in Lethbridge this weekend: September 27, 2024

Sep 27, 2024

What's Happening in Lethbridge this weekend: September 20, 2024

Sep 20, 2024

What's Happening in Lethbridge this weekend: August 30, 2024

Aug 30, 2024

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

For apartments and condos, prices actually went down in Lethbridge last year. These units typically sold for around $221,183, falling by 6.1 per cent ($14,369) compared to 2022.

These units decreased in price by $39 every day in Lethbridge.

Calgary, again, was the most expensive in this category in Alberta with prices averaging $321,400 (up $141 daily), while apartments in the low-priced Red Deer went for $170,863 (down $14 daily).

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

Vancouver was by far the most expensive city in Canada for both houses and apartments/condos.

A single-family home there sold for an average of $2,535,257 (up $573 daily) while apartments went for $784,314 (up $9 daily).

The full report can be found on the Point2Homes website.

READ MORE: Detached home prices in Lethbridge climb to $429,000 in December

READ MORE: Lethbridge second most affordable city for rent in national ranking

—

If you have a news tip, question or concern, please email Lethbridge.newsroom@Pattisonmedia.com.