According to latest figures from Medicine Hat Rea Estate Board, home sales in Medicine Hat are just getting stronger and continued through September, with one-off commercial and condos and farm sales that boost up the figures.
Brooklyn Kalista, President, Local Board said that news fall down the local real estate market which was moving very well and showing stability.
Recently, around 76 detached homes changed hands for total amount of $24.4 million, which means that higher average closing price was helped by home sales in upper ranges. A Complete Taxation Guide to Canadian Real Estate Investing which is very helpful to know that How to Maximize Your Real Estate Portfolio and Minimize Tax.
Average sale price of a home is around $306,400, is based on nearly 761 sales. This compares to average cost at this point of around $297,100 on 753 detached home sales.
Through 9 months in 2017, home sales volume is up nearly 5% on same amount of home sales as compared to this point in year 2016.
Among townhouses, condos and some other residential sales, around 30 units were closed for an amount of around $6.8 million. Average price of a home of around $211,200 is nearly $14,000 which is more than 9 months of 2016. A Real Estate Retirement Plan is also available which is an Investment and Lifestyle Solution for Canadians.
Overall total home sales in September were 5 commercial property sale receipts which totalled around $2.9 million. Multi family sales and farms totalled around $1 million.
Classes of property sales, local market volume for 9 months is around $316.9 million, up by 6.6% over volume in 2016, but 2% below 2015 figures.
According to Canadian Mortgage and Housing Corporation, home starts in Medicine Hat perked up in September this help a close to gap between 2016 and sluggish start to this year.
During this month, construction of around 16 new detached home projects were newly underway in Medicine Hat region. This double rate for September 2016, and pushed starts for month into positive mode.
New units are so far in 2017 that counts nearly 93 and down from 125 last year.