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 | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $415,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2025) | 15,400 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Lethbridge, Alberta
In Lethbridge, Alberta, real estate market conditions reflect a steady growth pattern. The median house price currently sits at $485,000, representing a 3.2% increase year-over-year. This increment signifies a robust housing market that is both resilient and appealing to potential homeowners. The market for apartments is showing similar strength, with the median apartment price reaching $295,000—a 2.5% rise over the past year. These trends indicate sustained demand and a healthy level of activity in the market.
Lethbridge’s population growth rate of 2.67% further supports the positive momentum observed in the real estate sector. An expanding population typically leads to increased demand for housing, which may contribute to steady or rising property values over time.
Investment Opportunities and Potential in Lethbridge
The real estate market in Lethbridge offers promising investment opportunities, particularly for those seeking long-term capital appreciation. The consistent growth in median house and apartment prices suggests that investments made into residential properties are likely to benefit from gradual value increases. Additionally, the city’s ascending population trend points towards a growing customer base for rental properties.
Investors should consider the potential of diversifying their portfolio with properties in Lethbridge due to its stable growth rates and the resilience of its housing market. Both residential homes and apartments represent viable assets that could provide sustained returns through rental income as well as property value appreciation.
Future Market Outlook for Lethbridge
The future market outlook for Lethbridge appears promising based on current trends and demographic data. Given the steady year-over-year growth in property values and the healthy population increase, this momentum is expected to continue into the foreseeable future.
The ongoing demand for housing driven by population growth is likely to support both home sales and rental markets. Investors can reasonably expect continued appreciation of property values at a similar or potentially higher rate if local economic conditions remain favorable or improve further.
In conclusion, Lethbridge presents itself as an attractive option for both homebuyers and investors, characterized by stable market conditions, solid investment opportunities with potential for growth, and an optimistic future outlook underpinned by continuous population expansion.
