Fall 2012 Farm Land Value Report

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

June 2012 Drumheller Real Estate Report

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)

Alberta Farm Values Report

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

March 31st, 2012 Drumheller Real Estate Report

The Drumheller housing market showed a decrease of 14 sales compared to this time last year. The Town of Drumheller resale house market shows an average sale price of $242,814. At present Drumheller has 79 single family detached homes for sale, at an average asking price of $272,600. The average days on market for homes so far this year is 105 days, and we are averaging approximately 4 house sales per month indicating about a 20 month supply.

Drumheller Real Estate Report December 31st, 2011

The Drumheller housing market showed an increase of 34 sales since last year. The Town of Drumheller resale house market shows and average sale price of $240,788. At present Drumheller has 58 single family detached homes for sale, at an average asking price of $262,415. The average days on market for homes so far this year is 87 days, and we are averaging approximately 12 house sales per month. We therefore have an estimated 5 month supply of homes on the market.

(Source: Realtor Association of South Central Alberta)

Fall 2011 Alberta Farmland Values Report

Alberta farmland values showed an average increase of 4.0% during the first half of 2011, which followed increases of 1.5 and 2.9% during the two previous reporting periods.

Values increased by an average of 0.7% per month between January 1 and June 30, 2011. Farmland values in Alberta have been rising since 1993.

Strong demand for good cultivated farmland was observed in southern Alberta. Large producers were competing for land, which pushed demand upward. Irrigated land suitable for specialty crops continued to be in high demand, with associated significant increases in value. Marginal land suitable for hay and cattle production also saw an increase in demand. Farmland was generally considered to be a sound investment.

Producers were optimistic about the growing season, given the above-average moisture levels. However, in many areas, excess moisture during planting delayed seeding.

Strong demand for good cultivated land continued in central Alberta. Increases in cattle prices improved the demand for pasture land. Above-average moisture levels and the cool spring delayed crops, which reduced producers’ disposable income, and weakened demand for land. A softening of the provincial economy over the past couple of years levelled off previously fast-paced increases in land values around the Highway 2 corridor from Edmonton to Calgary. Land values in most areas of central Alberta plateaued or increased slightly this reporting period.

A portion of the Peace region of northern Alberta experienced severe drought in 2008 and 2009. In certain areas, drought continued in 2010. This affected income levels and reduced demand for land. The spring of 2011 brought good moisture levels back to the region. Most areas saw modest increases in land prices throughout the past six months, perhaps due to renewed optimism driven by better growing conditions after several years of drought.

Source: FCC Website

September 30th, 2011 Real Estate Report

In the Town of Drumheller the average sale price rose 2.9% for the first 9 months of 2011. The average sale price was $242,060 and there were 114 sales recorded. Currently Drumheller has 73 single family dwellings actively listed on the MLS system. An average of 13 properties sell per month indicating a 5.5 month supply of houses on the market. Rural Drumheller sales averaged $138,357 with 21 sales. Hanna and area had 30 sales averaging $148,996.

(Source: Realtor Association of South Central Alberta)

June 30th, 2011 Drumheller Report

For the first six months of 2011 the Drumheller resale market had an average sale price of $275,549. Houses had an average time on market of 126 days. There is an average of 12 houses sold per month and currently 65 single family detached dwellings listed. This indicates about a 5 month supply of homes. Rural Drumheller sales averaged $148,391, Hanna and district had 23 sales and an average sale price of $148,391. The town of Vulcan had 3 sales with an average of $199,500.
(Source: Realtors Association of South Central Alberta)

First Quarter 2011 Drumheller Real Estate Info

The Town of Drumheller shows an average sale price increase of 8.3% for the first three months of 2011 in comparison to the first three months of 2010. Please note that this increase is in average price only and can not necessary be applied to every property. Different properties reduce or increase in value at different rates. There were 24 houses sold in the first quarter of 2010 and 33 in 2011. At the time of reporting, Drumheller had approximitely 65 houses listed on the MLS. Rural Drunheller has had 8 sales with an average price of $152,575. Hanna and area reported 8 house sales with an average price of $175,062.