The real estate market saw double-digit growth continue through the fall for the City of Medicine Hat and the surrounding area.--NEWS FILE PHOTO
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Home prices in Medicine Hat have continued strong through the fall real estate market, according to figures from the local real estate board.
Ninety-six homes were sold in the City of Medicine Hat in October, a 3.2 per cent increase from October 2024. When the surrounding area is factored in, the trend is even better, with 117 sales and a year-over-year increase of 7.3 per cent.
The average residential price has climbed by 10.1 per cent since October 2024 to $404,914.
Detached home prices have risen by 7.8 per cent year-over-year. Semi-detached homes and apartments have seen an even steeper climb, increasing by 30.4 per cent 24.8 per cent respectively.
A total of 144 properties were listed in the Medicine Hat area in October 2025, an 11.6 per cent increase from the previous year.
Meanwhile, inventory has dropped by 7.7 per cent from the same time in 2024, with 205 properties on the market this month.
“We are still at less than six weeks of supply. Prices are up almost 12 per cent from last year. It’s a good time to be a seller. They are experiencing good results,” said president of the Medicine Hat Real Estate Board and licensed realtor Cathie Catalano. “It’s a little tougher if you’re selling and jumping into the market as well, because you’re experiencing the same increase. But at any rate, it’s been very good for Medicine Hat.”
Catalano says that this year, she’s seen a notable number of homes selling at or above asking.
“Over the course of the year, we have seen them closing at list price or above list price, which almost used to be unheard of in Medicine Hat, but multiple offers are not a foreign thing anymore. It almost became the norm this summer,” she said.
While she expects the market to cool heading into the Holiday Season, Catalano says the upward trend is expected to continue into 2026.
“There’s one thing for sure, come the new year, all of the numbers are expected to carry on for Alberta,” she said. “It’s looked upon as a city that is more affordable, perhaps than Calgary or Edmonton, and particularly for people coming from Ontario and B.C.”
She said the comparatively mild weather in Medicine Hat always stands out as a selling point.
Catalano said trends toward higher home prices and lower inventory have been province-wide and year long, with Calgary and Edmonton also experiencing strong real estate markets this fall.
