Real estate prices in Medicine Hat continue to rise, according to new figures from the Medicine Hat Real Estate Board.--News Photo
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Home prices in Medicine Hat continue to rise coming out of winter.
New figures from the Medicine Hat Real Estate Board show residential unit prices through the first three months of the year were 10 per cent higher than at this point in 2024.
That includes an 8 per cent increase for detached homes sold up to March 31.
Medicine Hat Real Estate Board president Cathie Catalano told the News previously that continued demand without a raise in available properties locally has continued to push prices higher over several years.
Now, buyers and sellers are considering their level of confidence because of the ongoing continental trade dispute.
“There is a lot of uncertainty,” she said. “There is a lot of waiting to see if there will more another drop in the interest rates.”
There was a 20 per cent increase on a smaller number of detached properties, along with smaller increases for row and condo unites, four and two per cent, respectively.
Closing prices on 149 single-family homes averaged $405,300, detached properties $385,200, row units $230,300 and apartment-style units $204,800.
Prices in March were higher than average in all but condo classes, while a larger number of new listings ahead of spring showings brought year-to-date figures closer to 2024 levels.
Overall however, inventory is still lower for all classes, including 28 per cent down for detached, 49 per cent for semi-detached and 51 per cent for apartment or condos.
