The Medicine Hat real estate market is getting back to positive figures for 2019 thanks to good sales in the summer.--NEWS FILE PHOTO
cgallant@medicinehatnews.com@CollinGallant
Strong summer numbers have moved the Medicine Hat real estate market back into positive territory for the year, according to new figures released by the local board.
They show busy periods in July and particularly September – generally considered a transition month to a slower autumn season.
“It’s somewhat sporadic but it was busy, absolutely,” said Norbert Klaiber, president of the Medicine Hat Real Estate Board. “Listings are down a little, and even average sale price, last year it was $275,000, this year it’s $280,000.
“It’s all moving up a bit.”
Another positive note, sales among single-family residential listings also reached the 100-mark last month, a nice even number that’s been difficult to meet in what had been a dicier start to the year.
It’s a reversal from the mid-point of the year.
At June 30, the entire market was sitting about 9 per cent lower than the previous year’s pace. At the end of last month, however, the market was two per cent above. That’s an 11 per cent upward swing over the quarter.
“I think we’re operating at a good level,” said Klaiber. “After September we’re up over year-to date (totals). We’re coasting but we’re moving up.”
That’s thanks to strong markets in July and September periods, when activity in 2019 topped the previous year’s monthly volume by a third.
In the recent month, 100 single-family home sales had total attached receipts worth $28.9 million, while condo and townhome sales totalled 36 for $8.1 million. Both are about 50 per cent higher than totals from Sept. 2018,
Similarly, figures from the most recent July were powered by higher detached home sales, while August was steady with the previous year.
To date in 2019, the total volume sits at $293 million comprising 1.014 sales in all sectors – about $5 million more than the same period in 2018 on exactly as many transactions.
The year-to-year comparisons also show fewer listings through nine months with 2,014 compared to 2,173.
