In Drumheller, 18 house sales have averaged $255,250 which is up 12.8% from last year this time. There are presently 75 homes on the market in Drumheller. The average days on market for these 18 sales was 124 days. Hanna had 5 house sales averaging $212,800. With oil trading at around $50 dollars a barrel we may see a softening of the housing market in 2015.
In 2014 Drumheller had 124 sales of homes with an average sale price of $244,300. This was very close to last years average of $243,911. Drumheller had an average days on market of 143 days. At year end there were 61 homes for sales on the market. Rural Drumheller had 34 sales with an average of $163,700. Hanna reported 38 sales averaging $162,166. Information was provided by the Realtors Association of South Central Alberta.
The Town of Drumheller had 98 house sales so far in 2014. The average sale price is $245,471 which is an increase of 3% for the same period last year. The average days on market was 128 days, in a strong market 90 days on market is considered reasonable. Rural Drumheller area had 24 sales with an average price of $172,658.
Alberta farmland values increased an average of 12.9% in 2013, following gains of 13.3% in 2012 and 8.7% in 2011. Much of this increase occurred in the first half of the year. Values have continued to rise in the province since 1993. The strong agricultural commodity prices in the first half of the year along with increased oilfield activity spurred confidence in the economy. Land prices either increased or remained steady throughout most of the province. Location and availability were the main price drivers. Competition for land caused prices to increase along the Highway 2 corridor, particularly for agricultural holdings. This reflected continued optimism in agriculture. Southern Alberta continued to see high demand for irrigated land from specialty crop producers looking to secure contracts and traditional crop producers seeking irrigated land for production. Demand from producers looking to expand their land bases toincrease efficiencies also drove up farmland values
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.
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