The median sale price for single family homes in Brooks in 2018 was $240,000 which is almost unchanged from the 2017 median sale price of $241,000. The market remains relatively stable after seeing some decline from 2015-2017 due to the recession in Alberta. There is still an oversupply of homes on the market in Brooks and area. The oversupply may still be putting some downward pressure on sale prices.
Oil prices declined heavily near the end of 2018 and this will likely put more stress on the real estate market in Brooks. There is still significant uncertainty regarding the future of Alberta’s oil industry and the outlook for 2019 is uncertain due to the recent oil price fluctuations. A pipeline approval would go a long way toward restoring confidence in the market.