Medicine Hat is the city of southeast Alberta, Canada. All the cities of Alberta have their cons and pros. You can easily drive from one part of the city to another within roughly 15 minutes, Calgary is only three hours away and sunsets are pretty amazing. Growing up in this city or any other small town in Alberta City is likely someone has experienced so many amazing things like you can move out of the city within a few hours.
Statistic on Average Prices for Condos, Homes, and Townhouses:
The average sold price in Medicine Hat is $227K with a monthly charge of 9.1%. In the last 28 days, 96 homes are sold out and this city has 36 average days on the market. Medicine Hat has a 97% selling to listing price ratio. This is all because the city has many affordable housing prices.
Medicine Hat housing price depends on many factors including the number of beds, construction style, and area in which the house is located. The 2-bed detached house in Medicine Hat has a price of $199K. The 2 bedroom townhouse has a price of $172K which is comparatively affordable. The condominium houses are comparatively expensive but they are still in an affordable range. The 2-bed condominium houses in Medicine Hat have a cost of $198K.
How Many Numbers of Properties do Medicine Hat Offer?
According to Medicine Hat real estate market statistics as of 27 march 2020 recently there are almost 313 properties in Medicine Hat for sale with an average asking price of $326,478,98. The highest asking price of the property is $1,899,000 while the lowest price of the property is $19,700.00. Research history of the Medicine Hat real estate market represents that the housing types include attached townhouses and single-family detached houses.
How Fast Is The Real Estate Market Moving?
Alberta has many cities with several real estate opportunities for potential buyers. This is one of the top cities in southeast Alberta to buy real estate at the moment. According to Canadian Real Estate Association, despite mortgage regulation rule changes and many other economical changes, this city had historical sales in December 2018. At the end of 2018, there were almost 214 units available for sale, 7.8% more than in December 2017. This was a sharp rise in the Medicine Hat real estate market.
Of all inventory that is available on the real estate market in the city right now,$250,000 to $300,000 ranged houses are recently selling fastest, out of which $200,000 houses sell very fast, despite their condition. This shows how growing the Medicine Hat real estate market is.
The number of Active Pre Construction Developments in Medicine Hat:
Medicine Hat has recorded almost $90 million worth of construction in 2019, as compared to $141 million in the previous year for both non-residential and residential constructions. The annual development of the city represents that only 20 single detached houses were built this year.