A new report shows that home prices in Lethbridge have risen by 9.3 per cent over the last year. (Photo: Feverpitched | Dreamstime.com)

By David Opinko

REAL ESTATE

Lethbridge has second most expensive housing prices in Alberta, Medicine Hat seventh

Jul 17, 2025 | 12:30 PM

A new report shows that the average cost to buy a house in Lethbridge is greater than in a city with more than 10 times its population.

The cities Highway 3 neighbour Medicine Hat by comparison sits in seventh.

The Alberta Real Estate Association (AREA) shows that home prices, for all types of residential properties in Lethbridge in June 2025, averaged $439,818. This marks an increase of 9.3 per cent compared to the same time last year.

That means that Lethbridge is the second most expensive city in the province for housing, at least among those analyzed by AREA, behind only Calgary, which was $595,000.

Homes in the provincial capital of Edmonton typically sold for around $431,582, Alberta’s third most costly community.

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The difference in prices comes despite Edmonton’s population in July 2024 being 1,190,458, more than 10 times Lethbridge’s 111,400.

READ MORE: Lethbridge population estimated at 111,400

Medicine Hat’s estimated population in 2024 sat at 67,909 according to an Alberta Government estimate.

An average price for all types of homes in Medicine Hat is $352,259, up 3.7 per cent over last year, and $385,346 for a detached home, which is down 0.8 per cent from a year ago according to the June numbers.

Single-family detached homes in Lethbridge now sell for nearly half a million dollars, averaging $496,710 in June. These went up in price by 8.7 per cent over the last year.

The costs of semi-detached and row homes stayed relatively flat, rising 0.6 per cent to $361,364 and by 1.9 per cent to $315,116, respectively.

Apartments prices increased by 3.8 per cent year-over-year to $211,752.

AREA says that 192 properties sold in Lethbridge last month, which is down by 6.3 per cent annually.

The city remains in a seller’s market as there is just 1.59 months of supply, which is down 9.7 per cent. Months of supply refers to the amount of time it would take to sell all existing homes on the market, assuming a consistent pace of sales and no new properties being listed.

Medicine Hat had 99 properties solid in June, which is down 1 per cent from the prior year, and a drop from the 127 homes sold in May. The report lists 1.41 months of supply which is down 27.1 per cent year over year.

The full reports on home prices in Alberta can be found on the Alberta Real Estate Association.

READ MORE: June rental rates up in Lethbridge but down year-over-year

The average prices for all residential property types in Alberta in June 2025. (Photo: Alberta Real Estate Association. Data compiled by LNN)

The average prices for detached homes in Alberta in June 2025. (Photo: Alberta Real Estate Association. Data compiled by LNN)

– With files from Jesse Gill