2013 Brooks Alberta Real Estate Summary.

The City of Brooks resale housing market included a total of 151 sales. There were 125 sales of houses with average sale price was $263,058 which mirrors a similar average sale price last year $260,020. This is an indicator of a fairly stable market. 18 condominium properties sold for an average of 186,028 and 8 half duplexes sold at an average price of $196,375. The average price of 30 manufactured homes on rented lots in mobile home parks was $52,737. Average days on market was 83 days in 2013 . At present Brooks had 42 single family detached homes for sale. Information on this update has come from the Realtors association of South Central Alberta.

Historic Record of Sale price to List Price Ratio

Below is a historic chart of the close price to list Ratio for Mobile, Condominiums and Single family homes in the City of Brooks. A high sale price to list ratio indicates a strong demand. In a sellers market you will see a very high percentage. The results were calculated from 568 listings. This is a fairly small pool of listings and a few that were listed too high and had a significant disparity between asking and selling price could significantly alter the chart results.

sale pirce - list ratio image

August 1st, 2013 Brooks Real Estate Report

So far the Brooks housing market accounted for 78 sales which is a decrease from 128 sales at the same time last year. City of Brooks single family homes had an average price of $265,551 for 2013, slightly up from an average of $264,709 at this time last year. As of August 1st, 2013 Brooks has 69 single family detached homes for sale with only 4 properties listed under $200,000. The average days on market for sold home so far in 2013 has been 68 days. We are averaging about 11 sales per month. Sales information has been provided by the Realtors Association of South Central Alberta.

Spring 2013 Farmland Values Report

Farmland values in Alberta increased an average of 7.2% during the second half of 2012, following gains of 5.7% and 4.5% in the previous two reporting periods. Values have continued to rise in the province since 1993.Competition for land purchases caused prices to increase, with location and availability as the main price drivers. Higher commodity prices and strong demand along the Highway 2 corridor resulted in a higher demand for agricultural land in that area.The irrigation area of southern Alberta continued to see high demand for irrigated land, mainly as a result of strong commodity prices and for specialty crops grown under contract.Demand from producers looking to expand their land base to gain efficiencies also drove increases in farmland values throughout the province. Source: FCC Website

September 30th, 2012 Brooks Real Estate Report

So far the Brooks housing market accounted for 181 sales which is an acreage of 54 sales compared to the same time last year. City of Brooks single family homes accounted for 145 of the 181 total sales and had an average price of $262,332 which is about 6% higher than the same time last year. Brooks residential properties have so far been selling at a rate of 20 per month of 2012. In summary, values have been fairly stable but we are seeing more activity than last year.

Alberta Farm Credit Report Fall 2012

Farmland values in Alberta increased an average of 5.7% during the first half of 2012, following gains of 4.5% and 4.0% in the previous two reporting periods. The province has seen values continue to rise since 1993.

Overall, northern Alberta experienced strong increases in farmland values, corresponding to very strong commodity prices. Several areas saw larger farm operations consolidate their land base. Competition for land caused prices to increase, with location and availability as the major drivers. Some areas, primarily in the northern Peace Region, saw land prices stabilize, possibly in response to concerns about moisture conditions.

Once again, in central Alberta, strong cattle and grain prices corresponded with an increase in the price of land.The irrigation area of southern Alberta saw robust demand for irrigated land, resulting from high commodity prices and specialty crops grown under contract. The Lethbridge area also saw strong demand for good cropland.

Source: http://www.fcc-fac.ca

June 2012 Brooks Real Estate Report

For the first six months the housing market has shown an increase of 78 sales in Brooks in comparison to the same period in 2011. The average resale price of homes was $258,615. Attached housing, which includes duplex, townhouse and condominiums averaged $187,476 with 25 sales and mobile homes averaged $62,420 with 20 sales. Currently Brooks has 66 single family dwellings listed on the open market. We have approximately 17 houses selling per month. The average days on market for homes so far in 2012 is 67 days.

(Source: Realtor Association of South Central Alberta)

Spring 2012 Alberta Farm Land Values

Farmland values in Alberta increased an average of 4.5% during the second half of 2011, following gains of 4.0% and 1.5% in the previous two reporting periods. The province has seen values continue to rise since 1993.

Strong agricultural commodity prices, along with increased oilfield activity, appeared to spur confidence in the economy, with land prices either holding their value or increasing.

Farmland values in some areas of the Peace region and central Alberta have increased and were comparable to values observed in 2007 and 2008, before the 2009 drought.

In southern Alberta, land was generally considered to be a sound investment. Large producers competed for good cultivated farmland, fuelling demand and pushing prices upward.

Irrigated land suitable for specialty crops continued to be in high demand, while marginal land suitable for hay and cattle production also saw increases.

Source: Farm Credit Canada Website

March 31st, 2012 Brooks Real Estate Report

For the first three months the housing market has shown an increase of 31 sales in Brooks. The average resale price of homes was $234,478 which is down 1.1% from last year.. Attached housing, which includes duplex, townhouse and condominiums averaged $201,915 with 13 sales and mobile homes averaged $48,350 with 10 sales. Currently Brooks has 54 single family dwellings listed on the open market. We have approximately 17 houses selling per month, so there is an estimated 3-4 month supply of homes. The average days on market for homes is 110 days.

(Source: Realtor Association of South Central Alberta)

Fall 2011 Alberta Farmland Values Report

Alberta farmland values showed an average increase of 4.0% during the first half of 2011, which followed increases of 1.5 and 2.9% during the two previous reporting periods.

Values increased by an average of 0.7% per month between January 1 and June 30, 2011. Farmland values in Alberta have been rising since 1993.

Strong demand for good cultivated farmland was observed in southern Alberta. Large producers were competing for land, which pushed demand upward. Irrigated land suitable for specialty crops continued to be in high demand, with associated significant increases in value. Marginal land suitable for hay and cattle production also saw an increase in demand. Farmland was generally considered to be a sound investment.

Producers were optimistic about the growing season, given the above-average moisture levels. However, in many areas, excess moisture during planting delayed seeding.

Strong demand for good cultivated land continued in central Alberta. Increases in cattle prices improved the demand for pasture land. Above-average moisture levels and the cool spring delayed crops, which reduced producers’ disposable income, and weakened demand for land. A softening of the provincial economy over the past couple of years levelled off previously fast-paced increases in land values around the Highway 2 corridor from Edmonton to Calgary. Land values in most areas of central Alberta plateaued or increased slightly this reporting period.

A portion of the Peace region of northern Alberta experienced severe drought in 2008 and 2009. In certain areas, drought continued in 2010. This affected income levels and reduced demand for land. The spring of 2011 brought good moisture levels back to the region. Most areas saw modest increases in land prices throughout the past six months, perhaps due to renewed optimism driven by better growing conditions after several years of drought.

Source: FCC Website