(rdnewsNOW/Alessia Proietti)

By David Opinko - Lethbridge News NOW

Ranked most affordable in Alberta

Red Deer home prices rose $144 every day in 2023: study

Feb 8, 2024 | 4:05 PM

A new analysis looking at recent changes in housing prices shows Red Deer as one of the most affordable cities in the province, despite home values increasing by $144 per day over the last year.

Point2Homes has compared the prices of single-family homes and both apartments and condos for 2022 and 2023 in the 67 largest Canadian cities. The group then gives a breakdown of how much those prices have changed per day during that period.

In Red Deer, they found that houses sold for an average price of $381,984 in 2023, rising by 16 per cent, or $52,737, over the year prior.

That means, every day, the value of homes in the city increased by $144.

Of the five communities in Alberta that were included in the study, Red Deer was the most affordable.

Dec. 10

RDP holds pinning ceremony for graduating nursing students

3h ago

get in the car!

Maps for 2025 Red Deer Christmas Lights tour

6h ago

predictable taxation

Chamber calls Red Deer County's draft budget 'disciplined'

6h ago

Calgary topped the list with homes going for an average of $662,250 (up $201 daily).

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

For apartments and condos, prices actually went down in Red Deer last year. These units typically sold for around $170, 863, falling by three per cent compared to 2022. A decrease of $14 per day, the city was again the most affordable among the five in the province.

Calgary, again, was the most expensive in this category in Alberta with prices averaging $321,400 (up $141 daily).

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

(Source: Point2Homes.com. Compiled by LNN)

Vancouver was by far the most expensive city in Canada for both houses and apartments/condos.

A single-family home there sold for an average of $2,535,257 (up $573 daily) while apartments went for $784,314 (up $9 daily).

The full report can be found on the Point2Homes website.

(With files from rdnewsNOW Staff)

—–

Download the rdnewsNOW mobile app on Google Play and the Apple App Store for all the latest updates on this and other stories.