What an up and down year. Real Estate wise one week we would be twiddling our thumbs and the next week we wouldn't know up from down (because we were busy).
RE/MAX Main Street Realty thrives on goal setting and achieving/maintaining not only a high service standard but production values as well. Going into 2009 the warning was put out there as a challenge that it was going to be a tough year, but Main Street Realty was up for the task. By the end of the year we were involved in over 58% of the transactions in Brooks alone.
The REALTORS Association of South Central Alberta (RASCA - Surrounding Areas of Brooks, Vulcan, Drumheller and Hanna) experienced another 15% decrease in transactional volume from 2008 (They also experienced the same 15% from 2007 to 2008). That’s a whopping 30% decrease in transactional volume for RASCA in a 2 year period!!. Main Street Realty also suffered a significant decrease in volume transaction of 19% in that same 2 year period.
There were 250 homes in Brooks & County of Newell that changed ownership in 2009. The average price of those homes is $205,130. It took 111 days on average for each of these homes to sell. In 2008 (for comparison - there were 321 homes sold that took 102 days and averaged $201,676 for a sale price). This also shows that an increase of around 2% in sales price occurred over the year as well.
Another noteworthy statistic is that the Sellers also negotiated 2% less in 2009 compared to 2008 (94% vs. 96%). This means the Sellers listed their homes at a higher price than the year before but negotiated more to net a slightly higher price.
RE/MAX Main Street Realty are preparing for a strong year. As of January 1, 2010 we have already noticed an increase in website, listing and phone activity. We believe that we the consistent service we offer, the experience we have and of course the results we produce this year will be a fantastic real estate year.
In my opinion, the prices should remain fairly stable for the next few months in Brooks and it will "appear" as a buyers market. Expect the listing price to jump a little and the negotiating from the Sellers to give a little - but in the end - house prices should be more expensive this year than in 2009.
As always, if you ever have any questions or comments about the real estate market in Brooks, Alberta, please contact me.
Brad Stolson
Broker/Owner
RE/MAX Main Street Realty
Brooks, Alberta
