Medicine Hat Real Estate Market Trends January 2023

January sales remained relatively consistent with the levels seen last year and long-term trends for January. At the same time, new listings eased slightly ensuring that inventory levels fell. The 201 units in inventory reflect the lowest January levels seen in this market since 2002. This also did little to change the currently tight market conditions as the months of supply remained relatively low at just over three months. City wide prices did ease slightly over last year, but some of that could be related to the shifts in the semi-detached side of the market. Nonetheless, detached home prices did continue to rise over levels seen in the market last year.