Lethbridge
Lethbridge is a city located in the Canadian province of Alberta, British Columbia. According to a census of 2019, the city has a population of 101,482 individuals which has made the city 4th Alberta City to cross 100,000 individuals.
The nearby Rocky Mountains of Canada have contributed to the windy climate, mild winters, and warm summers in the city. So, you can enjoy a variety of weather here.
Lethbridge is smaller in size and population as compared to other major cities of Alberta, Edmonton & Calgary, life here is rewarding with the substantial job opportunities, many recreational activities, and lower cost of living here.
Besides all these beautiful things about Lethbridge, the houses here are also very affordable. These are available in different construction styles at different rates.
Average Housing Price in Lethbridge
The real estate data of Lethbridge of 19th June 2022 represented that the city has 651 active residential listings. The average asking price of these residential listings is $377,255.96. The lowest price residential property and highest price are available at the costs of $250000 & $4,999,000 respectively. These active listings include attached & detached single-family houses, row houses, and townhomes.
The median household sale price for a single-family residential home was up around 6 percent on a year-over-year basis to approximately $335,000 in the 1st quarter of 2022. This price was the latest record for the median housing price in Lethbridge.
You can buy well-constructed houses in different areas of the city. For example, a 4 bedroom and 2 bathroom residential apartment is available for sale at 27 Cougar Road, Lethbridge, Canada. This apartment costs only &305,000.
Similarly, another residential apartment is available for sale at 706 20th Street North Lethbridge, Lethbridge, Canada. This three-bedroom and 2 bathroom apartment cost only $283,000. Lethbridge has 651 such houses for sale at different rates.
Real Estate Market Outlook of Lethbridge
The real estate prices in Lethbridge could soar to around $649,000 by the end of this year. This is a little rise in the real estate prices. This rise is because of the low inventory levels available due to the pandemic.
It is said by the RBC economist Robert Hogue that it is not just the sales activity that is falling but the housing prices are also falling as well. In a report last week, he further said that there will be an increase in the housing prices this spring and a decline of 2.2 percent on average in 2023 while the last forecast has called for a 0.8% fall in the real estate prices in 2023.
Low inventory in the city this year has increased the market demand for new houses. Where there are more houses for sale in the real estate market of the town, eventually there will be a decrease in the housing prices. Therefore, analysts are expecting a drop in real estate prices in 2023. This concludes that you can buy a more affordable house in 2023.
