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As Alberta becomes an attractive option for out-of-province buyers, Lethbridge is quickly becoming one of the province's most appealing cities to purchase property, primarily because of its livability, affordability, and sense of community, making the city an excellent choice for families, professionals, and retirees. If you're considering or in the process of relocating to Lethbridge, Alberta, this guide should help you understand what to expect when residing in the city. Lethbridge Housing Market In the first quarter of 2022, housing prices in Lethbridge increased by 6% year-over-year as inventory in the city reached record lows. The increase is the most blatant sign of the hot demand in the housing market, spurred by a general consensus that Lethbridge provides far more value than its neighboring Calgary. This is certainly the case. Single-family detached homes in Lethbridge have an average price of $335,000, a 49% decrease compared to Calgary's $651,000 (May 2022) detached average. These affordable property prices in combination of the vast selection of livable neighborhoods makes it worthwhile for buyers to naviate Lethbridge's property market in search for a far more affordable "forever home." But finding a forever home starts with finding a forever neighborhood, a perfect oasis for your ambitions and lifestyle and the lifestyle and ambitions you want for your family. While Lethbridge has a number of outstanding neighborhoods, these five in particular stand out. Lethbridge Neighborhoods Buyers are spoiled for choice when moving to Lethbridge, Alberta. Not only are many buyers pleasantly surprised by the affordable turnkey homes with state-of-the-art features, but the amenities offered by some of Lethbridge's most livable neighbourhoods. Southgate As Lethbridge's most sought-after neighbourhood, Southgate is the perfect place to raise a family. The neighbourhood has a variety of conveniences, like proximity to amenities, schools, and greenways. Southgate has also become well-known for its safety, neighbourly atmosphere, and walkability, encouraging an active lifestyle and fostering a sense of security. The neighbourhood, with a population of nearly 4,000, is one of the highest-ranked neighbourhoods in Alberta and has proximity to a shopping district. Southgate also has plenty of green spaces like Southgate Park, with its spacious walkways and ponds attracting several species of birds and aquatic plants that offer a quiet escape from busy city life. Property prices in the picturesque neighbourhood average $507,484; a steal considering the square footage, amenities, and features each house offers. Ridgewood Heights Located in West Lethbridge, Ridgewood Heights is known for being one of Lethbridge's prestigious neighbourhoods. Ridgewood offers quick access to the city's leading schools, properties with breathtaking Coulee views, and access to Whoop-Up Drive and Highway 3, leading you to Downtown and Banff respectively. While it has access to a significant network of major roads, Ridgewood Heights is a rather sheltered neighbourhood, maintaining idyllic isolation from the noise and busyness of main roads. Beyond its tremendous access to Alberta's gems like Banff, Ridgewood Heights is also great for young families with active lifestyles. Ridgewood Park, for example, has plenty of open spaces for impromptu games and a playground perfect for young children. The park also has trails that lead to adjoining parks like Coachwood Park. From Ridgewood Park, you also have informal access to the coulees, a perfect way to spend a relaxing afternoon. Paradise Canyon Any active family will love Paradise Canyon; not only is the neighbourhood safe with an unparalleled neighbourly atmosphere but it's also anchored by Paradise Canyon Golf Resort with its world-class golfing and dining. The 18-hole course has breathtaking views of the Oldman River, which runs along the edge of the course and provides the perfect backdrop for a game. On the upper end of the neighbourhood, you'll find detached properties with access to the coulees. As you get closer to the golf course, you'll find condos and multi family homes. Neighbourhood parks are also in abundance in the area, you have your choice of Canyon Creek Park and Paradise Canyon Park, but you also have Popson Park, an off-leash park, where hiking trails abound, and you can spend the afternoon fishing, swimming, and enjoying some family time. Henderson Lake If you're searching for a sense of community in a neighbourhood, Henderson Lake offers just that. The area is home to Henderson Lake Park, Henderson Lake Golf Club, and the Nikka Yuko Japanese Garden. Making your way down to Henderson Lake Park, a premier park with over 7km of pathways, a play area for children, and a 24-hectare man-made lake, you can enjoy running or walking on the trails or frolic in the endless water activities offered by the lake. Activities include kayaking, canoeing, and fishing; in winter, you can also enjoy outdoor skating. It's a paradise for everyone in the family. The park is also community-orientated, hosting a range of Canada Day Festivities and the Lethbridge Rotary Dragon Boat Festival, in addition to plenty of other community-focused fun days. The family will also enjoy the Henderson Lake Golf Club, a public golf club that offers everything from beginner courses to ladies' leagues and corporate events, or if teeing off isn't part of your family's cup of tea, you'll also enjoy the Henderson Grill, a casual, family-friendly dining experience. Residents of Henderson Lake also have unparalleled access to Nikka Yuko Japanese Garden, an immersive adventure that allows you to experience Japanese culture right on your doorstep. Lakeview Lakeview, located along the Southern edge of Lethbridge, Alberta, is known as a mature neighbourhood. But walking distance to Lakeview School, an elementary school with fantastic programs, and Gilbert Paterson Middle School has made it increasingly popular among out-of-state young buyers looking for easy access to necessities. The neighbourhood is also stone-throwing distance from plenty of retail spaces and parks, making your Saturday shopping an easy feat. You'll enjoy the five parks that dot the community, with Lakeview Park -- opposite Lakeview School -- being the largest. The park is perfect for an active family, offering an outside gym, large open spaces for children to play, and paved trails enhanced with majestic old trees. Properties in the neighbourhood are consistently below $500,000, with many being in the $300,000 range. Other Neighborhoods in Lethbridge, Alberta Depending on your lifestyle and budget, you'll also find neighbourhoods like Copperwood, Indian Battle Heights, Willowbrook, Varsity Village, Legacy Ridge, Park Meadows, Winston Churchill, Upper Eastside, Redwood, and Fairmont appealing, but it's best to discuss your choices with your real estate agent. Regardless of where you decide to purchase property in Lethbridge, it's hard to go wrong with your selection as each neighbourhood has its own characteristics and dozens of advantages. What it's Like Living in Lethbridge Alberta Beyond being an affordable city to live in, residing in the city of Lethbridge also means you'll gain access to the city's industries, schools, and universities. It's access to these sorts of amenities that make it more appealing to reside in one of Alberta's fastest-growing towns. Lethbridge Weather Lethbridge is known for sunny weather, spanning 320 days of the year, although temperatures can fall into the low single digits, and there are some snowy days in the city's coldest months. But, overall, the city remains comfortable and mild. Moving to Lethbridge, you can expect mild winters courtesy of the semi-arid climate and Chinook winds. From June, the temperatures rise, maintaining a comfortable heat of the mid-to-upper-twenties until the middle of September. These three months offer plenty of time to explore the 240km of trails, waterways, and coulees that Lethbridge offers. Then, from the middle of September, temperatures start dropping until November, when the coldest months of the year begin. January is typically the coldest time of the year, when it may snow on occasion. Lethbridge, Alberta, Industries Lethbridge is home to several thriving industries and a growing business district. The result of which is plenty of job opportunities in multiple sectors, but it's also the perfect environment for startups, businesses, and entrepreneurs. Entrepreneurs and Business Owners Business owners and entrepreneurs who move to the city can expect to find a growing workforce; most recent data (2020) places the number of people in the workforce at 66,300. Lethbridge businesses also benefit from the lowered tax rates that form part of Alberta's recovery plan. Corporate income tax now stands at 8 percent for companies making more than $500,000 a year, but smaller businesses making up to $500,000, only have a 2 percent tax rate. The overall business climate is also poised to generate investment in the province and spur job creation, with Alberta opting out of imposing any additional tax like sales tax, payroll tax, or provincial capital tax. Furthermore, businesses that invest in research and development could benefit from Alberta's Innovation Employment Grant. Professionals Lethbridge was a typical farming community, with most of its industry being linked to agriculture. But that has changed in recent years, partly due to a welcoming business environment and a migration of highly skilled labourers and professionals. Presently, Lethbridge, Alberta, has a lower unemployment rate (6.6%) than the province's average and less than larger cities like Calgary and Edmonton, according to recent data. This points to the expansion experienced in several industries, like financial, technical and professional services. Some of the largest employers in these fields are Lethbridge Research Centre and MNP LLP. Labourers Lethbridge has a flourishing construction and manufacturing industry. Several manufacturing companies call the city home due to its inviting and business-friendly but also because of the phenomenal labour force in the province that are both expertly skilled and —attracted to the lower cost of living — call Lethbridge, Alberta home. Teachers, Professors, and Healthcare Workers Professionals in education and healthcare can expect to join Lethbridge's most established industries, with the two industries accounting for 70 percent of the province's top 10 employers. Those in education have the University of Lethbridge and Lethbridge College in addition to district school jobs and Catholic school jobs. Healthcare professionals can join the more than 3,000 professionals employed by Alberta Health Services. Besides the endless employment opportunities in Lethbridge, Alberta, another aspect to look forward to when moving to the city is the low cost of living. Lethbridge Cost of Living According to crowdsourced data gathered from Numbeo — an index that enables participants to rate the cost of 55 essential items — Lethbridge, Alberta, is the 6th cheapest Canadian city and the cheapest city in Alberta to reside. These figures only look more attractive considering recent data shows the median family income in Lethbridge is $61,997, according to data released by Statistics Canada from the 2015 census. A more recent estimate by Statistics Canada, puts that figure at $83,846, a 35 percent increase from the 2015 census, indicating rapid job growth in the region. Although house prices have increased by 6 percent year-over-year to $335,000 in the first quarter of 2022, Lethbridge's properties are still some of the most cost-effective options in the province, providing investment and lifestyle value. Lethbridge's property tax remains extremely low in the city, with the average rate for single-family residential and farmland rate for 2022 being 1.09 percent, although the property tax is typically expressed in mills (which is a dollar value paid per $1,000 of assessed property value). Provincial income tax is also a flat 10 percent and must be paid in addition to federal income tax. Beyond that, most neighbourhoods have schools within walking distance and are close to one of the city's several shopping districts, requiring limited travel. The city's gorgeous parks also provide endless activities for the family to enjoy without any additional expense. Schools in Lethbridge Lethbridge parents are spoiled for choice when it comes to elementary, middle, and high schools in Lethbridge. Not only are teachers engaged in giving learners a magnificent environment, but they're also dedicated to establishing young minds in their formative years. Elementary Schools Lethbridge has an abundance of public elementary schools, including Galbraith Elementary, Lakeview School, Westminster Elementary School, Senator Buchanon Elementary School, DR. Gerald B. Probe Elementary School, Park Meadows School, Coalbanks Elementary School, and Catholic school Immanuel Christian Elementary School, École St. Mary School, École Agnes Davidson School, The Children of St. Martha Elementary School, and St. Patrick Fine Arts Elementary School. Lethbridge High Schools Lethbridge High schools are some of the best in the province, offering an abundance of neighbourhood public schools and Catholic schools. Catholic Central High School - West Campus, Catholic Central High School, Chinook High School, St. Francis Junior High School, and École Agnes Davidson School. Lethbridge Collegiate Institute Located on the Upper East Side, Lethbridge Collegiate Institute is a public high school teaching Grades 9 to 12. Incoming students have 20 course options, including Drama, Band, Design Studies, Multimedia, and languages like Japanese and Spanish. Lethbridge Montessori School Parents who appreciate the Montessori method will love that Lethbridge has two Montessori campuses, the Scenic campus is in South Lethbridge, and the Forestry campus is located in Redwood. Parents only have positive things to say about the learning environment and sense of community. Lethbridge College Lethbridge College prides itself on having a hands-on, learn-by-doing approach to coursework that employers appreciate. With over 60 courses, including degree programs like a Bachelor of Agriculture Science,  Bachelor of Nursing, and Justice Studies - Bachelor of Applied Arts. Lethbridge University Lethbridge University is one of Canada's leading universities. Not only is it located in the mostly sunny Lethbridge, but the university also offers a robust academic environment. What To Do In Lethbridge There's never a dull moment in Lethbridge, considering the city is a hub of activities the whole family can enjoy. Galt Museum & Archives For insight into our human origins and history, head to Galt Museum & Archives. The space offers an unmatched learning experience, that is fascinating and eye-opening for all ages. Nikka Yuko Japanese Gardens Feel like you're walking through a quaint Japanese garden when you take a trip to the Nikka Yuko Japanese Gardens. The gardens are exceptionally authentic, offering guests a unique perspective of a staple part of Japanese culture. Southern Alberta Art Gallery If you want a taste of Canada's art scene, you will enjoy the exhibits at Southern Alberta Art Gallery. The gallery often showcases work from upcoming artists and, on occasion, students' artwork through the annual Art’s Alive and Well in the Schools.  Pavan Park Nature lovers will relish Pavan Park, a 125-acre natural park on Lethbridge's northern edge. The well-maintained park has a playground, volleyball court, equestrian trails, and hiking trails and is also home to all sorts of wildlife. Nicholas Sheran Park On the west side of Lethbridge, you'll find Nicholas Sheran Park, a premier park with picnic facilities, playgrounds, walking trails, and access to the 23-hectare man-made lake. The lake is a playground for all sorts of non-motorized water activities, including kayaking, boating, and fishing for Trout, Pike, and White Fish. You'll also find Lethbridge's only -- and Canada's longest -- 18-hole Disc Golf Course, which covers 100 acres of the park. Banff Lethbridge is only a 3-hour drive from Banff, allowing you to experience all the skiing town has to offer, either during a day trip or over a few days. After moving to Lethbridge, you can spend your weekends finding your favourite spots; whether you prefer exploring nature or indulging in a bit of upscale dining and arts and culture, the city is rich in all facets. What to Do Before Moving to Lethbridge, Alberta Before you move to Lethbridge, Alberta, you may want to make a trip to the city to get a feeling for each neighbourhood and meet with a real estate agent to walk you through your options. Since Lethbridge has so much to offer, it's best to do your due diligence. This is something I always advocate that out-of-province buyers do to ensure that the neighbourhood they settle in feels like the perfect community for their lifestyle and goals. If you can't make the trip to the province before committing to a property, consider what amenities the neighbourhood offers, schools in the community, and proximity to your place of work. Then rely on feedback from your real estate agent to get an idea of the neighbourhood dynamics. Excited about moving to Lethbridge? You can search for houses for sale in Lethbridge right now. 

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Lethbridge Real Estate Market Update - February 2024 Welcome to the latest Lethbridge real estate market update brought to you by the Compass Team. As we delve into the statistics and trends of February 2024, we aim to provide valuable insights to both prospective buyers and sellers in our community. Overview: February witnessed continued dynamism in the Lethbridge real estate market, marked by notable shifts in various indicators compared to the previous month and the same period last year. Let's delve into the numbers to understand the nuances driving these changes. Average Price: The average price of homes in Lethbridge experienced a significant increase from January 2024, reaching $376,597, representing a notable 3.1% rise. Comparatively, this reflects a substantial 7.3% increase from February 2023, highlighting the enduring strength of the local market. Property Types: - Detached Homes: The average price for detached homes surged to $435,278, indicating a remarkable 9% increase from January 2024 and a substantial 12.9% rise from February 2023. - Semi-Detached Homes: While the average price for semi-detached homes experienced a slight decrease of 16.5% from the previous month, it remained 5.7% higher than February 2023, emphasizing the resilience of this segment. - Apartments and Townhouses: Apartments witnessed a slight decrease in average price, while townhouses saw a notable 6.4% increase, reflecting the varied dynamics within the residential sector. Market Performance: - List to Sold Ratio: February saw an improvement in the list to sold ratio, reaching 98.50%, indicating a strengthening seller's market compared to the previous month and the same period last year. - Days on Market: Properties spent an average of 62 days on the market in February, demonstrating a significant 20.5% decrease from January 2024 and a substantial 24.4% decrease from February 2023, signaling increased demand and faster transactions. - New Listings and Current Inventory: The month recorded a 12.6% increase in new listings and a 3.9% decrease in current listings compared to January 2024, indicating a healthy balance between supply and demand. - Number of Sales and Months of Supply: Despite a 19% decrease in the number of sales, the months of supply decreased by 33.3% from January 2024, underscoring the continued competitiveness of the Lethbridge market. Comparative Analysis: In comparison to neighboring markets, Lethbridge remains an attractive destination for homebuyers, with a more affordable average price range. While Calgary, Edmonton, and the provincial average showcase higher average prices, Lethbridge offers competitive pricing with ample opportunities for homeownership. Conclusion: As we transition into the spring market, the Lethbridge real estate landscape continues to present promising opportunities for both buyers and sellers. With increasing demand, favorable pricing, and a diverse range of properties, now is an opportune time to explore the possibilities within our vibrant community. Stay tuned for further updates from the Compass Team as we navigate the evolving dynamics of the Lethbridge real estate market together.

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Compass Team Real Estate Update: January 2024 Hello Compass Team community! Ryan here, your trusted realtor, bringing you the latest scoop on the ever-exciting Lethbridge real estate market. January has been an impressive month, and I can't wait to share the thrilling details with you. Surging Sales Despite Inventory Dip Let's kick things off with the heart of the matter – sales. January 2024 witnessed a remarkable surge with 115 properties changing hands, up from 80 in December 2023 and 99 in January 2023. What's truly fascinating is that this spike in sales is happening despite a decrease in the number of homes hitting the market. You might expect a drop in sales due to the lower inventory, but quite the contrary. Lethbridge's affordable housing is catching the eye of out-of-province buyers and savvy investors, adding an extra layer of dynamism to our thriving real estate scene. Active Listings on a Downward Spiral Taking a closer look at the active listings, we see a considerable drop – 306 in January 2024 compared to 327 in December 2023 and a whopping 429 in January 2023. As supply dwindles, we anticipate an upward trajectory in home prices. So, if you're thinking about selling, now might be the perfect time to maximize your property's value. Navigating New Listings with Finesse January's new listings clocked in at 135, a slight decrease from January 2023 but an expected uptick from the holiday season. Sellers, take note: quality photos matter. Consider staging your home before the festive season to showcase its best features. We're here to guide you on making your property stand out in a competitive market. Price Watch: The Numbers That Matter Most Now, let's talk numbers. The average home price in January 2024 stands at $365,279 – a substantial increase from December 2023's $362,033 and a significant leap from January 2023's $299,614. A whopping 22% surge in just one year! This robust trend showcases the resilience and growth potential of Lethbridge's real estate market. Breaking it down by property type, detached homes average $399,466, semi-detached homes at $363,980, row/townhouses at $274,859, and apartments at $174,100. Each segment contributes to the overall positive trajectory of our housing market. Days on Market & Close Price Ratios Homes in January 2024 are spending an average of 78 days on the market, a slight increase from December 2023 but a decrease from January 2023. The close price to list price ratio has also seen a positive shift at 97.8%, indicating a strong market favoring sellers. Inventory Outlook & Ryan's Predictions As we look ahead, I predict another year of low inventory and increasing home values in southern Alberta. Why? Low interest rates in 2020 and 2021 prompted many to buy or upgrade. With rates inching up, homeowners are holding tight until rates decrease or mortgages come up for renewal. Investors and new buyers are flooding the market, and Canada's housing shortage is only intensifying. Southern Alberta, with its attractive market, is drawing attention from across the country. Interest rates are stabilizing, predicted to trend down, making it an opportune time for homebuyers. In conclusion, Lethbridge's real estate market is thriving, and the trends suggest a promising future. For a more in-depth analysis, reach out to a mortgage broker. I'm here to guide you through every step of your real estate journey. Here's to a prosperous year of buying, selling, and thriving in the Lethbridge real estate market! Best regards, Ryan and The Compass Team

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