You can still buy a house for UNDER $200K in these five Alberta cities
Alberta is known for its affordability compared to a vast amount of the country, and a new report has shown a ton of spots where you can still buy a house for under $200,000.
Point2homes crunched the numbers and found that Edmonton, Lethbridge, Red Deer, Calgary, and Airdrie also placed highly for cities by shares of homes under $200,000 in the Prairies.
In Alberta’s capital city of Edmonton, a whopping 18.56% of homes on the market were going for under $200,000, followed by 15.85% in Lethbridge, 14.88% in Red Deer, 4.03% in Calgary, and 1.96% in Airdrie.
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When it comes to the national level, three cities in Alberta cracked the top 10 of share of listings under $200,000 in the largest cities in every region, with Edmonton landing in fifth place, followed by Lethbridge at seventh, and Red Deer in eighth.
Spots in Nova Scotia took up the top two, with Cape Breton seeing a staggering 44.53% of listings under the $200,000 benchmark.
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You can check out the full report here.
Point2homes says when it comes to its methodology at the regional level, it selected the top cities by population in single province regions, as well as in multiple province regions. The Prairies and Atlantic Canada group multiple provinces due to the low number of highly populated cities.
It then looked at the largest cities with the highest shares of listings below $200,000 in each region: The Prairies, Atlantic Canada, British Columbia, Québec, and Ontario.
To gauge the inventory of homes for sale for less than $200,000 in each city, Point2homes then examined and counted listings from REALTOR.ca. The study was based on all active listings, as well as listings pending sale, priced up to and including $200,000 at the time of the analysis (the last week of May 2023).
It also used MLS Benchmark Composite Prices for the majority of the cities included in the analysis.
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