Cheap Houses and Condos for Sale in Medicine Hat

Listings last updated 05/12/2021
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Finding cheap houses for sale in Medicine Hat, AB

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There are 197 cheap houses for sale in Medicine Hat, AB

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Medicine Hat, Alberta

Located in southeast Alberta, Medicine Hat is a medium-sized city situated 300km southeast of Calgary. The city has a population of 63,000 people, covers an area of 112 sq. km, and is often labelled an “oasis in the midst of the prairies” as there’s an abundance of places to explore, a bustling arts scene and a very interesting culture and history. The city’s valley landscape is very beautiful and dramatic, with a meandering river as well as large cliffs and rolling hills. Medicine Hat is Canada’s sunniest city making it a desirable place to live especially for retirees. Generally, winters in the city are cold and snowy and temperatures frequently hit the low minuses, while the summer months are hot and sunny with temperatures often reaching the high-20s.

Medicine Hat is famous for its natural gas reserves and is commonly known as “Gas City.” It’s very rich in natural resources including oil and gas, coal, clay, and farmland, making it one of the most economically viable places to live in the country. The city has its own utility and power plants and even though it experienced a slight downturn in the recent oil price collapse, operations are now regaining strength. Medicine Hat’s industries such as technology and business have all been expanding as a whole as a result of the oil price drop – especially renewable energy – which is putting the city in a strong position economically. Medicine Hat provides a lovely quality of life especially for those keen on recreation, as you have over 90km of walking trails to explore, the South Saskatchewan River to enjoy, as well as arts events, summer festivals, and annual rodeos.

Medicine Hat, Alberta

Medicine Hat, Alberta
real estate market overview

Real Estate Market Overview

Medicine Hat has an affordable yet growing housing market and things are looking good for 2017. The market did dip slightly during the oil downturn; however, it’s now on its way up, which has led to stabilization, an increase in activity and a slight boost in housing prices. The average sale price for a home in Medicine Hat is around $246,000, making it the most affordable city for property in Alberta based on the median income and median housing price.

The market is fairly balanced, meaning it’s favourable for both buyers and sellers, and the most desirable property type is a single-detached home. Condos, mobile homes and townhouses are slightly less desirable and have seen a drop in closing prices; however, with the market regaining strength this poses a great opportunity for both investors and first-time buyers looking to purchase affordable property.

With the oil and gas market picking up and more jobs being created in the city, this will continue to support the real estate market in the coming years. Residents can enjoy affordable house prices, a great quality of life, as well as a strong and growing economy, so Medicine Hat has a lot of potential and is set to grow rapidly in the future.

real estate market overview

Affordable Real Estate Market Overview

Medicine Hat boasts very affordable property – in fact, the most affordable in the province – and there are many types of houses available, from small, cosy bungalows, to condos and apartments, to single-family homes. Many millennials are also choosing to build their own home or custom-design a new-build property, which is a very attractive option. The introduction of Alberta’s energy efficiency code means that homes will be highly efficient, and some even solar ready, which means more affordable running costs. Homes in Medicine Hat cost just over half of what they do in Calgary, and you get much better value for money, so it’s a desirable choice for those looking for affordable real estate.

Small bungalows can be found in the range $60,000-$80,000 in the North Flats area, and homes in the region of $100,000-$150,000 can be found in areas such as Norwood, North Flats, Riverside (condos), as well as North East Crescent Heights.

cheap real estate market overview
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