Local real estate market enjoying strong finish to 2021

By COLLIN GALLANT on December 17, 2021.

Strong home sales continued through November, according to the latest figures released by the Medicine Hat Real Estate Board.--News Photo

cgallant@medicinehatnews.com@CollinGallant

The Medicine Hat real estate market is mounting a strong finish to 2021 after a record-smashing start to the year that ebbed during the summer.

Figures for November show the highest number of residential sales for the month, which is typically slower, going back 10 years.

A total of 125 closures in the month is one-quarter more than the 10-year average and 20 more than the next best year, 2020.

That’s all in a typically slower time of year in residential transactions, similar to the early winter months, but which in 2021 saw the Medicine Hat market set record months from January through May.

Through 11 months, the average selling price for a single-family home in Medicine Hat and area is up 6 per cent, to $341,000.

That follows an 8 per cent increase in 2020.

Semi-detached home prices were even at about $282,646, row housing, up 3 per cent at $205,300, and apartment complex prices showed the biggest increase at 12 per cent to $186,400 per unit.

Total residential category receipts through 11 months total $490.4 million, compared to $363.4 million through all of 2020.