Lethbridge real estate: price of detached home increases 20% year-over-year

Those in the market to purchase a home in Lethbridge should expect to pay more, according to a new report by the Alberta Real Estate Association.

Fewer homes on the market, higher demand and a growth in population contributed to a rise in home prices in Lethbridge last month, according to the Alberta Real Estate Association (AREA).

AREA’s December 2025 Housing Statistics report lists the average price for a detached home in Lethbridge as $502,790, a 20 per cent increase from December 2024.

“Anytime you’ve got low supply and high demand, prices do tend to increase,” said Mike Shanks, vice-chair of the Lethbridge and District Association of Realtors (LDAR).

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The report shows the average price for a semi-detached home was $355.833, a 2.4 per cent decrease year-over-year.

There was also a 23.7 per cent year-over-year drop in the average price of an apartment, which dipped to $187,500

In December 2025, Lethbridge saw 75 new listings added to the market, an increase of 1.4 per cent year-over-year.

“We’ve seen a lot of population growth since the beginning of 2024, and frankly, not enough completion of home construction, so both of those things are going to create a tightness in the market that create tonnes of demand and just not enough supply,” said Courtney Atkinson, owner and CEO of Atkinson Team at eXp Reality.

The LDAR says the market in Lethbridge has remained hot for the past few years as more people are moving to the area.

“Historically, southern Alberta and Lethbridge are continually a strong market,” said Shanks.

“It’s a great place to invest, and markets seem to continually go up here with less fear of major drops, major collapses, things like that.”

But the tight market can cause challenges for buyers.

Atkinson says those in looking to buy need to be fully prepared, expect to spend more and be ready to compete against multiple offers.

“I always tell my clients, ‘If you wake up tomorrow morning and find out you didn’t get your dream home at that price that you offered, what would have you paid this morning knowing you lost it last night?’ And that question often has people coming up with a bit of different number and getting those properties that they’re looking for rather than having to wait for months and months for the next one to come around,” he said.

While local realtors describe 2025 was a tight market, there is hope the pressure will ease in the months ahead.

“We’re hoping to see more new construction to ease some of that supply to make a little bit more balanced, so we don’t see another dramatic increase in pricing,” Atkinson said.

“So, if we can have both of those two things come together, I think it will be a great year for consumers.”

While a 20 per cent increase in price may seem daunting, Shanks says not to be discouraged.

“Every time someone asks me, ‘When is a good time is to invest in real estate?’ The answer is today,” said Shanks. “Whether you a year ago, you ask me today, you ask me a year from now, the answer is today.”