With all the media hype about the economic situation through out the world, on everyones mind is the health of our local economy and the Real Estate market.
January has started the year off very strong. Through the Brandon Real Estate Board there have been pretty much the same number of new listings that have come available and a similar number of sales reported when comparing Jan of 08 and Jan of 09.
The median sale price is actually up from a year ago though. Last year January median price was $156,000, this January recorded a median sale price of $183,000. The median point is the middle point at which half the homes sold under and half the homes sold over the middle.
So what is going on in in Brandon that the rest of the World does not know about? Typically in Brandon and the Westman region we enjoy a very stable market place. Many things will contribute to that stability, a couple being that we are not reliant on any one industry, and we have a strong agricultural community that has seen some good years recently.
As well we have the University and ACC in town plus a very low vacancy rate. These all contribute to the well being and economic strength of our community.
Looking to the future is always difficult, but given that the experts are predicting a return to economic growth by the 3rd quarter, the continued low interest rates, and the millions that the Federal Government is putting up for community infrasture money, I think we will see a strong 2009.