Lethbridge, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 200,000 |
| Previous Population (2020) | 195,000 |
| Population Change | 2.6% |
| Total Private Dwellings | 75,000 |
| Occupied Private Dwellings | 70,000 |
| Population Density (per km²) | 2.7 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Lethbridge, Alberta is currently experiencing a period of growth. With a median house price of $485,000 and an annual appreciation rate of 3.2%, the market is showing signs of moderate but steady growth. The trend for apartment prices is slightly more subdued, with a median price of $295,000 that reflects a year-over-year increase of 1.9%. This suggests that while the market for freestanding homes is heating up, the apartment sector is maintaining a stable trajectory.
Lethbridge’s population has reached approximately 200,000 residents, with a healthy growth rate of 2.6%. This demographic expansion can be attributed to various factors including economic opportunities and quality of life enhancements which are likely contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
Investors looking into Lethbridge’s real estate market will find appealing opportunities across both residential homes and apartment units. The steady rise in property values coupled with the continuous population growth suggests that demand for housing will remain strong. The consistent appreciation trend could indicate potential for solid returns on investment in the long term particularly for those considering buy-and-hold strategies.
Rental properties could also benefit from the city’s population increase as new residents may seek flexible living arrangements before purchasing homes. Therefore, investors focusing on income-generating properties might find apartments particularly attractive due to their lower price point and potentially higher turnover rates.
Future Market Outlook
The future outlook for Lethbridge’s real estate market remains optimistic. Given the current trends and population growth rates, it is reasonable to expect that housing demand will continue to rise. In turn, this may lead to further increases in property values over time although potential investors should also consider economic variables and interest rate fluctuations which could affect affordability and borrowing costs.
With local economic development efforts and infrastructure improvements underway, Lethbridge’s appeal as a residential destination may strengthen further, potentially leading to greater investment opportunities. However, like with any real estate investment, it’s crucial for buyers to conduct thorough research and consider local conditions such as employment rates and regional economic health before making decisions.
