High Demand Housing

July 16, 2021

With the darkest days of the COVID-19 pandemic behind us, Medicine Hat’s housing and job markets are showing signals of brighter days to come.

Strong home sales in June contributed to the best start to the year since 2007, says the Medicine Hat Real Estate Association. Overall, 156 homes changed hands in June, marking a 25% jump over last year’s pandemic-hobbled summer market.

At the same time, new listings have not kept pace with demand, resulting in a strong seller’s market in Canada’s sunniest city. There are now only 292 units of inventory available, with the number of month’s supply at levels not seen since natural gas averaged $11 a gigajoule.

Year-to-date, Medicine Hat’s average home price has increased more than 6%. Despite the modest jump, Medicine Hat remains one of the best bargains in the country, with average home prices at just 4.5 times after-tax family income, compared to the Canadian average of 10 times after-tax family income.

“We have a unique selection of homes from character to newly built that accommodate a variety of price ranges for working individuals,” says Julia Lacey, a Medicine Hat realtor with 10 years’ experience. “Our homes offer beautiful yards, welcoming neighbourhoods, iconic views of the city and suitable garage and living space for any family,”

Located in the heart of the Canadian badlands, and a short drive to the boreal forest and beaches of the Cypress Hills, Medicine Hat is a 15-minute city with excellent health care and education, a healthy downtown core, and a wide range of clubs and activities to enjoy.

The city recently ranked #21 on Maclean’s, Canada’s Best Communities, with the top three features being low taxes, amazing amenities and fantastic internet access.

Jobs, too, have come roaring back in recent months. Indeed, the Lethbridge-Medicine Hat economic region posted the lowest unemployment rate in Alberta at just 5.7%.

Economic re-opening, $70 oil, and a rapidly expanding renewable energy sector, combined with economic recovery projects including Medicine Hat Town Square, Gas City Campground Expansion, multi-use trail development, and a 20-court pickleball facility , has resulted in strong employment prospects in aerospace, construction, health care, oil and gas, and hospitality.

With affordable housing and good paying jobs aplenty, Medicine Hat is one place in Canada where young professional families can finally get ahead.