It is becoming increasingly obvious that the Brooks Real Estate market is going to suffer like the rest of the Province – unfortunately for Brooks it appears while the rest of the province’s real estate markets are showing signs of recovery, Brooks is faltering. My opinion is that the Brooks real estate market tried to ignore the flailing economy and all we did was put it off to a later date.
Of course the lack of work for the oil & gas community in Brooks isn’t helping either. The new owners of Lakeside also appears to be restructuring and the effects are evident in the rental community (my vacancy rate has been under 5% for several years – the last few months it has jumped to 12%!!)
I guess the point of writing these blogs is two-fold – 1. No one in Brooks is reporting anything to do with the real estate market and 2. Show all the positive things that are happening in the Brooks real estate market that no one is reporting.
With that in mind there is good news – Lakeside is in the process of bringing in 300 more employees very soon (great news for the struggling vacancy rate) and it appears the oil & gas guys are slowly starting to go back to work.
To the numbers!! :
-There has been 66 transactions (that’s 33 homes sold) in Brooks, Alberta and County of Newell since March 1, 2009.
-RE/MAX Main Street Realty has been involved in over 36% of those transactions!! (a good number by the way – we have 9 associates in our office which represents about 15% of the Brooks Real Estate Board)
-The average sale price of these homes was $209,000 (for the same period last year the average sale price was $206,000)
Looking at the above – the market sounds good – unfortunately – last year, in the same period there were 65 homes sold. In review, the average prices of homes went up a little bit and the amount of sales went down a lot.
Brad Stolson has been licensed in real estate since 2000. He is the top producing REALTOR at RE/MAX Main Street Realty since January 1, 2002. Check out his listings and other great information at his websites www.stolsonsells.com and www.bradstolson.com
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