Local Real estate Report to March 31, 2012

Real estate sales to the end of March 2012, show that a total of 139 properties, worth $27,844,750.00 were sold by member firms of the firms of Brooks and County of Newell, Vulcan and area, as well as Drumheller, and Hanna areas. The sales numbers include all residential, commercial, and farm sales.

The total of 139 sales amounted to 30 more sales than the same period in 2011. The Brooks housing market shows a in increase of 31 sales, while Drumheller home sales decreased to 14 sales, from 33, at this time last year.

City of Brooks resale house market accounted for 50 sales with an average sale price of $234,478.00, which is down 1.1% from last year.

Brooks attached housing, which includes duplex, townhouse, and condominiums, averaged $201,915.00 with 13 sales, compared to the 2011 average of $162,071.00. Mobile home sales averaged $48,350.00, with 10 sales.

At present, Brooks has 54 single family detached homes for sale, at an average price of $313,318.00.  Quite a few houses are in the upper price range, bringing the average price up considerably. the average days on the market for the homes sold was 110 days, and we are averging approximately 17 house sales per month.

Town of Drumheller statistics show that the average sale price decreased by 1.8%, averaging $242,814.00, with 14 sales.

At present, Drumheller has 79 single family detached houses on the market, at an average price of $272,600.00. Houses that have sold have averaged 105 days on the market. House sales in Drumheller are averaging 4 per month.

Residential Sales Figures:

District Number of Sales Average Sale Price
Rural Drumheller 10 $142,690.00
Hanna 10 $178,300.00
Vulcan 3 $133,000.00
Duchess 5 $204,830.00
Bassano 3 $41,666.00
Newell (incl Lake Newell Resort) 4 $147,250.00

No farm sales were reported for the period, and 3 commercial properties sold in so far in 2012.

Although the average prices have not changed too much from 2011, it is encouraging to see a 22% increase in the number of properties sold. Interest rates are still some of the lowest in years, and that is encouraging some renters to consider owning their own homes.

By: Don Friesen, on behalf of members of REALTORS® Association of South Central Alberta.

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