Recently released statistics from the Medicine Hat Real Estate Board show that the city's home sales rose by 12 per cent, making for a 30 per cent increase in value.
A total of 101 transactions were closed in January, resulting in a sales volume of $26.24 million. This represents a sharp increase over sales figures from January 2013, where only 88 sales took place, totalling $20.13 million, reports the Medicine Hat News..
Single-family homes were the biggest draw, with 64 units worth a combined $17.9 million sold. Smaller residential units, including apartments, condos and townhouses also saw their sales volume increase, from $1.9 million to $2.3 million.
Medicine Hat Real Estate Board president Devon Felesky attributes the increase in sales to the decrease in
mortgage rates, less competition within the market, and warmer weather experienced in January.
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