Category: Market News

March 2013 statistics for the City of Medicine Hat showed the average
residential sale price was $259,910. Year to date for 2013 showed an average sale price of $255,742. Monthly residential average prices were up from March 2012 for Medicine Hat(+1 per cent). Residential listings are down from 526 listings as of May 2012 to 365 listings as of April 2013. 2012 vacancy rate was 7.0% and the average rent of a two bedroom apartment was $705 per month, with a 2013 forecasted vacancy rate closer to 6.0%.

(Information provided by Medicine Hat Real Estate Association, CREA, CMHC )

Farmland values in Alberta increased an average of 5.7% during the first half of 2012, following gains of 4.5% and 4.0% in the previous two reporting periods. The province has seen values continue to rise since 1993.

Overall, northern Alberta experienced strong increases in farmland values, corresponding to very strong commodity prices. Several areas saw larger farm operations consolidate their land base. Competition for land caused prices to increase, with location and availability as the major drivers. Some areas, primarily in the northern Peace Region, saw land prices stabilize, possibly in response to concerns about moisture conditions.

Once again, in central Alberta, strong cattle and grain prices corresponded with an increase in the price of land.The irrigation area of southern Alberta saw robust demand for irrigated land, resulting from high commodity prices and specialty crops grown under contract. The Lethbridge area also saw strong demand for good cropland.

Source: http://www.fcc-fac.ca

May 2012 statistics for the City of Medicine Hat showed the average residential sale price was $263,949. Year to date for 2012 showed an average sale price of $257,482.

Monthly residential average prices declined in Medicine Hat (-0.1 per cent), Lethbridge (-3 per cent), and Alberta West (-7 per cent). As of June 2012 there are currently 428 active residential listings which is
down from the month of May 2012 which had 438 active residential listings.

(Information provided by Medicine Hat Real Estate Association, CREA, CMHC )

Farmland values in Alberta increased an average of 4.5% during the second half of 2011, following gains of 4.0% and 1.5% in the previous two reporting periods. The province has seen values continue to rise since 1993.

Strong agricultural commodity prices, along with increased oilfield activity, appeared to spur confidence in the economy, with land prices either holding their value or increasing.

Farmland values in some areas of the Peace region and central Alberta have increased and were comparable to values observed in 2007 and 2008, before the 2009 drought.

In southern Alberta, land was generally considered to be a sound investment. Large producers competed for good cultivated farmland, fuelling demand and pushing prices upward.

Irrigated land suitable for specialty crops continued to be in high demand, while marginal land suitable for hay and cattle production also saw increases.

Source: FCC Website

October 2011 statistics for the City Medicine Hat showed the average residential sale price was $ $260,713. Year to date for 2011 showed an average sale price of $250,921. Vacancy rates were 9.4 % for fall 2011. The provincial average rent for fall 2011
all apartment types in Medicine Hat was $663 monthly which was the lowest average rent among all urban centres in Alberta. The lowest average rent across urban centres for a two bedroom apartment was in Medicine Hat at $698 per month, up from $691 in October 2010. As of November 2011 there are currently 706 active residential listings which is down from the month of October 2011 which had 810 active residential listings. Single family and multi-family housing starts were down 52% year to date as of June 2010.

(Information provided by Alberta Real Estate Association, CHMC )

August 2011 statistics for the City Medicine Hat showed the average residential sale price was $261,147. Year to date for 2011 showed an average sale price of $251,878. Vacancy rates were 9.4 % as of April 2011. Single family and multi-family housing starts were down 52% year to date as of June 2010.

(Information provided by Alberta Real Estate Association, CHMC )