Historic Low Inventory in Brooks Alberta

 

 

A quick look at the Active Listings in Brooks over the last 4 years is starting to paint an interesting picture.  My own personal opinion of part of the issue in our City is the lack of a higher volume builder.  The market itself is also a factor i.e.: government involvement (CMHC, Bank of Canada Rates, etc).  With less people interested in moving within the City, regardless of the reasoning, is certainly impactful on the real estate market.

As always, if you have any questions or comments with respect to the real estate market please never hesitate to contact me directly.

Brad Stolson
Broker/Owner

RE/MAX Main Street Realty
Brooks, AB

Fall Brooks Update

Please visit the link below for the Brooks market update

Click here

2013 First Quarter Statistics

To date of 2013, RE/MAX Main Street Realty (RMSR), has retained top producing real estate office status with more new listings, more listings actually sold and having the lowest days on market, compared to our competition.  On average in the 1st quarter RMSR has sold 47% of their listings (13% more than their closest competitor) and the more stunning statistic is how much faster we are able to accomplish the sales.

50 Properties have sold in the City of Brooks and County of Newell for the 1st quarter of the year.  70% of those listings sold have been directly in the City of Brooks.  This compares to 90 properties in 2012 (same quarter) and 76% of those listings in the actual City of Brooks.

The average sale price of the Brooks properties sold within this period of 2013 is $248,600.  Again in comparison of the same period in 2012, the average sold price in Brooks was $235,600.

It is certainly apparent that the housing market in Brooks is in a lull.  My theory is weather (its been cold) and with no end in sight to the low interest rates I believe the general public feels no rush to purchase.

We believe that 2013 will be a very strong real estate year and will have some stable increase in overall purchase price.

As always, if you have any questions please never hesitate to contact your RE/MAX Main Street Realty associate to discuss.

2012 - BEST REAL ESTATE EVER

2009 was the best year in real estate transactions in Brooks at 240 transactions. We were hoping to blow that out of the water in 2012, however, an unexpected halt in the economy (temporary closure of XL foods) really stalled the real estate industry due to the uncertainity of what was going to happen. Fortunately, XL foods was reopened shortly and things went back to normal. RE/MAX Main Street Realty (MSR), did beat 2009 in transactions with 243, not a "blow out of the water" but still a banner year.

MSR retained its 51% market share in Brooks and the County of Newell, the big difference this year over last is that Century 21 and Royal LePage are fighting over the other 49% of sales opposed to 2011 when Royal LePage was our primary competition.

Also on a self promoting good point is MSR, on average, sold their listings for $7000 more and the list to sale value was 1% better than the average of the Brooks real estate board. 1% doesn't sound like much, but when you have a $300,000 home, it adds up. Lastly, our days on market was virtually the same with the Brooks board at 103 days and MSR at 98.

All in all, a very successful year for MSR and we anticipate much of the same in 2013. We believe stability in the Brooks market is a good thing and we should experience small growth in the prices of our homes.

As always, if you wish to discuss any real estate issues please never hesitate to contact me directly

STAT PACK

STAT PACK - NOVEMBER 2012

Quick sales numbers thrown at you for reference. Listing vs Sales - up to end of November 2012 versus the same period in 2011.


UPLANDS
2012 - 39 Listings/22 Sales
2011 - 50 Listings/24 Sales


Fairview
2012 - 22 Listings/14 Sales
2011 - 12 Listings/8 Sales


WestEnd
2012 - 45 Listings/38 Sales
2011 - 52 Listings/29 Sales


Lakewood
2012 - 14 Listings/12 Sales
2011 - 24 Listings/14 Sales


Parkland
2012 - 13 Listings/10 Sales
2011 - 12 Listings/5 Sales


Greenbrook
2012 - 12 Listings/7 Sales
2011 - 9 Listings/7 Sales


Ingram Park
2012 - 16 Listings/12 Sales
2011 - 28 Listings/10 Sales


Central
2012 - 38 Listings/28 Sales
2011 - 49 Listings/21 Sales


Meadowbrook
2012 - 26 Listings/24 Sales
2011 - 32 Listings/15 Sales


SunnyLea
2012 - 22 Listings/14 Sales
2011 - 13 Listings/8 Sales


Totals for these sudivisions


2012 - 247 Listings/181 Sales

2011 - 281 Listings/141 Sales


Sales remained strong and listings dropped in almost every subdivision. This current situation has obviously created a market geared more towards the Sellers as the demand for homes is up and the supply is down.


As always, if you have any questions or comments regarding real estate, never hesitate to contact me directly.


Brad Stolson
Broker/Owner

Housing Market Outlook 2013

Blistering Sales in a Blistering Summer

2008 was the last great real estate year, sales were abundant and listings would simply fly off the shelf (so to speak).  The first half of the real estate year posted 179 transactions selling at an average price of $215,000.  There was little selection and the town was bustling with activity and everyone had a sense we were growing. 

Of course, everyone is well aware of what happened in the last quarter of 2008.  As we settled in for what felt like a long recession, real estate was looking awfully gloomy.  However, the country persevered and for the most part our little town of Brooks remained quite stable real estate speaking.  The prices stopped rising and in fact dipped a little, not a lot, but enough for everyone to feel the crunch.

By the same ½ in 2009 there were only 118 transactions with an average sale price of $206,000.

Fast forward to 2012 – we have smoked 2008 in almost every aspect of the residential real estate market.  The first ½ stats have reported 198 transactions with an average sale price of $227,000!!!.

That translates to 2012 being the best real estate year to date ever!!!  Brooks has been becoming more and more stable over the last 3 years.  Stability in real estate translates into excellent news.  Prices should start to go up and by the looks of some recent sales happening they have already started to slightly rise.

RE/MAX Main Street Realty has also battled the currents over the last 4 years  and we have been diligently working hard for all of our clients and increasing our service standard by educating and providing valuable information for all of our clients.

Our hard work and dedication has paid off for our clients and the homes we have sold for them.

As of 2008 RE/MAX Main Street Realty had only 47% of the market.  Through the last “harder” years we have increased our market share to 53%.  We are also proud to say through the first 6 months of this year sold our listings 20 days less than the rest of the board and have sold our homes for $7000 more than the average.  Of course these numbers don’t sound like much but if you have the opportunity to get more money (like $7000) and do it quicker (like almost 3 weeks) – wouldn’t that sound like a smart decision when you’re ready to sell your chunk of real estate?

As always, if you would like to more know about values of your home please never hesitate to contact myself or any member of RE/MAX Main Street Realty.

Brad Stolson

Broker/Owner