Author: mchaney

In the past three months Drumheller has seen 23 sales. The average sale price of these re-sold homes was $226,870 which is lower than the average of $261,079 from the homes sold at this time last year. There are presently 80 single family homes for sale in Drumheller and there is an average of 8 homes sold per month indicating a 10 months supply. This is a general over supply of homes.

http://www.cmhc-schl.gc.ca/odpub/esub/64695/64695_2014_M01.pdf

Alberta had a total of 15,193 housing starts in 2012 and 16,308 housing starts in 2013. An increase of 7 percent. Other dwellings not considered single family detached dwellings had a total of 15,413 new builds in 2012 and 16,685 in 2013. This is an acreage of 8 percent.

The town of Drumheller show that the average sale price for a single detached home average $243,911 with 102 sales in 2013. There was 105 sales in 2012 with an average sale price of $234,785. This is an indicator of a fairly stable market. Drumheller presently (January 1st, 2014) has 79 single family homes for sale and there is an average of 9 sales per month. This indicates almost a 9 month supply of homes on the market. The Town of Hanna had 33 total sales with an average sale price of $132,503.

Below is a historic chart of the close price to list Ratio for Mobile, Condominiums and Single family homes in Drumheller. The results were calculated from 369 listings. The ratio is fairly stable except for a large dip in early 2012 . This is a fairly small pool of listings and a few that were listed too high and had a significant disparity between asking and selling price could significantly alter the chart results.

Town of Drumheller has had 57 sales so far in 2013 which is less than the 71 sales they had this time last year. Statistics show that while the number of sales has decreased the average selling price has increased from $234,168 in 2012 to $258,479 in 2013. As of August 1st, 2013 there are about 99 single family homes for sale in Drumheller and there are an average of 10 sales per month. (a 10 month supply). Rural Drumheller had 14 sales with an average price $166,571.

Farmland values in Alberta increased an average of 7.2% during the second half of 2012, following gains of 5.7% and 4.5% in the previous two reporting periods. Values have continued to rise in the province since 1993.Competition for land purchases caused prices to increase, with location and availability as the main price drivers. Higher commodity prices and strong demand along the Highway 2 corridor resulted in a higher demand for agricultural land in that area.The irrigation area of southern Alberta continued to see high demand for irrigated land, mainly as a result of strong commodity prices and for specialty crops grown under contract.Demand from producers looking to expand their land base to gain efficiencies also drove increases in farmland values throughout the province. Source: FCC Website

Town of Drumheller has had 88 sales so far which is less than the 115 sales they had this time last year. Statistics show that the average sale price feel by 2.5%. Average sale was $235,906 which is 2.5% lower than last year. Residential sales in Drumheller are averaging 10 per month.

Farmland values in Alberta increased an average of 5.7% during the first half of 2012, following gains of 4.5% and 4.0% in the previous two reporting periods. The province has seen values continue to rise since 1993.

Overall, northern Alberta experienced strong increases in farmland values, corresponding to very strong commodity prices. Several areas saw larger farm operations consolidate their land base. Competition for land caused prices to increase, with location and availability as the major drivers. Some areas, primarily in the northern Peace Region, saw land prices stabilize, possibly in response to concerns about moisture conditions.

Once again, in central Alberta, strong cattle and grain prices corresponded with an increase in the price of land.The irrigation area of southern Alberta saw robust demand for irrigated land, resulting from high commodity prices and specialty crops grown under contract. The Lethbridge area also saw strong demand for good cropland.

Source: http://www.fcc-fac.ca

The Drumheller housing market showed a decrease of 16 sales compared to this time last year. The Town of Drumheller resale house market shows an average sale price of $244,212. At present Drumheller has 78 single family detached homes for sale, at an average asking price of $278,218. The average days on market for homes so far this year is 106 days, and we are averaging approximately 10 house sales per month.

(Source: Realtor Association of South Central Alberta)

Farmland values in Alberta increased an average of 4.5% during the second half of 2011, following gains of 4.0% and 1.5% in the previous two reporting periods. The province has seen values continue to rise since 1993.

Strong agricultural commodity prices, along with increased oilfield activity, appeared to spur confidence in the economy, with land prices either holding their value or increasing.

Farmland values in some areas of the Peace region and central Alberta have increased and were comparable to values observed in 2007 and 2008, before the 2009 drought.

In southern Alberta, land was generally considered to be a sound investment. Large producers competed for good cultivated farmland, fuelling demand and pushing prices upward.

Irrigated land suitable for specialty crops continued to be in high demand, while marginal land suitable for hay and cattle production also saw increases.

Source: Farm Credit Canada Website