Medicine Hat
Medicine Hat is a city located in southeast Alberta, a province of Canada. It is situated alongside the South Saskatchewan River. The city is around 295 kilometers southeast of Calgary and almost 169 kilometers east of Lethbridge. Medicine Hat and the nearby town of Redcliffe to the northwest are within cypress county.
It is one of the most lively and beautiful cities in Canada. According to Macliean magazine, this city has one of the best communities in Canada. Medicine Hat is also more affordable than other Canadian cities. For example, only $4,824.81 are required to maintain the same standard of life in Medicine Hat that you can have with $5,900 in Lethbridge.
Average Housing Price in Medicine Hat
According to a Real Estate report of 19 June 2022, currently, there are 297 active residential properties for sale in Medicine Hat. The average asking price for these properties is $372,208.29.
The highest priced residential property in the city is $4,855,500 while the lowest priced residential property is $3000.00. According to the real estate history of Medicine Hat, these active listings contain single-family attached/detached houses, townhomes, and row houses.
The median house price in Medicine Hat also varies depending on the real estate market condition of the city. There is a decrease of 2.7 percent in the median house price of the city year over year and basis to $310,000 in the 1st quarter of 2022.
Houses are available for sale at different rates in the city. For example, a three-bedroom and three-bathroom residential apartment are available for sale at 670 Rossglen Drive SE, Medicine Hat, British Columbia. You can buy this apartment for only$447,500.
Similarly, another 5 bedroom and 3 bathroom apartment are available for sale at 63 Sunrise Street SW Medicine Hat, Alberta, Canada. This apartment costs only $300,000.
Real Estate Market Outlook of Medicine Hat
There has been a slight increase in real estate prices this year. This rise is particularly because of the pandemic due to COVID-19. There was a decrease in inventory level in the city. After the pandemic, house buyers are demanding more houses in the city.
It is predicted by CoreLogic that over the coming year there will be a decline of almost 5 percent of the growth rate. It is predicted by the Mortgage Associates that house prices are poised to be around 4.8 percent over the next year.
Some real estate professionals are predicting a rise in real estate prices of almost 11.2 percent. But many think that the coming year will have a housing market at low rates. If you are an investor then wait for the next year to buy a house in Medicine Hat. If you want to buy a house in Medicine Hat for your family then you should also wait for the next year.
