Home prices in Lethbridge fell in February 2025. (Photo: Feverpitched | Dreamstime.com)

By David Opinko

Lethbridge housing prices fell in February

Mar 11, 2025 | 10:55 AM

After several months of quickly rising prices, homes in Lethbridge became slightly more affordable this past month.

The Alberta Real Estate Association says the average cost for all types of residential properties in February 2025 was $402,643.

That is down by 3.4 per cent compared to January’s value of $416,789.

READ MORE: Average Lethbridge home price rises to $416K

On an annual basis, however, homes in Lethbridge still increased by 6.6 per cent.

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Detached homes in Lethbridge were listed for an average of $450,592, rising by 3.5 per cent over the last year, while row homes rose 7.4 per cent annually to $314,321.

Semi-detached homes were the only category in Lethbridge that became cheaper year-over-year, falling by 4.3 per cent to $297,125.

Apartments, on the other hand, continued their drastic price hikes, going up by 75.9 per cent to $295,057.

The report says there are around 1.73 “months of supply” in Lethbridge, meaning that if homes continued to sell at their current rate and no new listings were added, that is how long it would take for everything to be sold. This means that Lethbridge remains in a seller’s market.

Homes in Lethbridge are approximately $100,000 cheaper than the provincial average of $509,468.

The Alberta average is driven up by its largest city, Calgary, which is also the most expensive.

Calgary homes, between all property types, sold for $556,500, while detached homes in Cow Town were listed for $720,000.

Medicine Hat and Grande Prairie were nearly tied for the cheapest homes among Alberta’s bigger communities. Prices in Grande Prairie went for $356,035, while you can buy a typical home in Medicine Hat for $359,974.

The full report on housing prices in Alberta can be found on AlbertaRealtor.ca

READ MORE: One-bedroom rentals in Lethbridge now more expensive than Edmonton

Housing prices in Alberta for February 2025. (Source: Alberta Real Estate Association. Compiled by LNN)

Housing prices in Alberta for February 2025. (Source: Alberta Real Estate Association. Compiled by LNN)

Housing prices in Alberta for February 2025. (Source: Alberta Real Estate Association. Compiled by LNN)

Housing prices in Alberta for February 2025. (Source: Alberta Real Estate Association. Compiled by LNN)

Housing prices in Alberta for February 2025. (Source: Alberta Real Estate Association. Compiled by LNN)

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