22-07-2025
Lethbridge records Alberta's second-highest average home price in June 2025
A "for sale" sign is seen in Lethbridge on Monday, July 21, 2025.
The average price of a home in Lethbridge was the second highest in Alberta last month, according to a recent report from the Alberta Real Estate Association (AREA).
According to AREA's most recent statistics, the average price for a property sold in Lethbridge in June 2025 was $439,818, a year-over-year increase of 9.3 per cent.
'There are some factors in Lethbridge that I think are affecting the value here,' said Justin Myer, owner of 'I think it's a combination of the types of homes that are currently selling and a little of what's happening in Lethbridge.'
He says one of the biggest drivers in Lethbridge's price jump is a lack of supply.
The city only has about a month and a half supply of homes on the market.
Myer says that lack of inventory is being caused in large part by people moving to the city.
'If you rewind time even five years ago, you didn't get too many B.C. or Toronto phone calls coming in. but now you see a 416 area code, you'll kick your kids over to answer it because, you know, that's someone that just sold a place for $1 million in Toronto and they want to buy here.'
The province says its trying to speed up the home building process by cutting red tape to encourage more home building.
So far this year, Alberta has seen 30 per cent more home starts than last year.
The Lethbridge Census Metropolitan area saw 26 per cent more home starts.
'We're definitely seeing a strong start – 26 per cent over last year,' said BILD Lethbridge executive officer Bridget Mearns. 'Last year was a really strong year. We haven't seen a first and second quarter this strong for the last decade – with the exception of 2022.'
More homes on the way doesn't necessarily mean prices will drop soon.
Mearns says an influx of people moving to Lethbridge could offset any changes from more homes being on the market.
'There are so many factors that affect that new home price, but it's nice to see that it has leveled off – that's great for the community to see – again, there are different factors that affect that, but we're we are on par last year. So not we're not seeing those crazy increases we saw the last few years.'
Calgary saw the highest average price for properties sold in June 2025, sitting at $646,006, a four per cent year-over-year increase.
