A new report shows housing prices in Lethbridge are rising. (Photo: Feverpitched | Dreamstime.com)

By David Opinko

Average Lethbridge home price rises to $416K

Feb 10, 2025 | 11:30 AM

A new report shows that home prices in Lethbridge are among the province’s fastest-rising.

The Alberta Real Estate Association says that the average cost in Lethbridge was $416,789 between all housing types in January 2025. That is up by 14.1 per cent from the same time last year, which is outpaced only by Grande Prairie, which saw prices inflate by 19.2 per cent.

Detached homes were the most expensive at $445,998, up 11.6 per cent year-over-year.

Residents will no longer see significant savings if they opt for a semi-detached home, such as a duplex. Those increased in price by 15.6 per cent to $420,833.

Apartment costs surged 87.5 per cent over the last year, costing an average of $326,355. It is now more expensive to buy an apartment in the city than a row home, which sells for $313,358.

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The report states that 132 residential properties were sold in Lethbridge this past month.

There were 1.88 months of supply, meaning that if homes continued to sell at the same rate and no new listings were added, it would take that long to completely clear out all homes.

A number that low means Lethbridge is firmly in a seller’s market.

Lethbridge is still more affordable than the provincial average, which was just over half a million dollars for all property types ($503,078).

Prices in Calgary helped to bump Alberta’s numbers up, as homes in the biggest city averaged $572,500.

By contrast, Fort McMurray was the most affordable at $331,588, which was the only major community to see housing costs go down (-0.8 per cent)

Housing prices for all types of homes in Alberta in January 2025. (Image: Alberta Real Estate Association / Pattison Media)

Housing prices for detached homes in Alberta in January 2025. (Image: Alberta Real Estate Association / Pattison Media)

Housing prices for semi-detached homes in Alberta in January 2025. (Image: Alberta Real Estate Association / Pattison Media)

Housing prices for apartments in Alberta in January 2025. (Image: Alberta Real Estate Association / Pattison Media)

Housing prices for row homes in Alberta in January 2025. (Image: Alberta Real Estate Association / Pattison Media)

The full report on housing statistics can be found on the Alberta Real Estate Association website.

READ MORE: Lethbridge rental prices rose at fastest rate in Canada

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