Brooks, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Brooks, Alberta is currently experiencing a steady growth in property values. The median house price stands at $485,000, which marks a 4.2% increase year-over-year. This growth rate suggests a healthy demand for single-family homes in the area. Similarly, the median apartment price is $295,000, with a more modest growth of 1.9% year-over-year.
Brooks’ population has grown by 2% to reach 15,300 residents, indicating an influx of new residents and potential homebuyers. This demographic shift is likely contributing to the sustained demand for housing in the city. The trend of increasing property values across both houses and apartments suggests that the market is robust and that properties are appreciating steadily over time.
Investment Opportunities and Potential
For investors considering the Brooks real estate market, the data indicates promising potential for both short-term gains through property flipping and long-term investments via rental properties. The consistent appreciation in property values provides lucrative opportunities for capital gains.
The steady population growth serves as a positive indicator for rental demand, potentially leading to favorable rental yields for investors. Additionally, the current trends suggest that investing in apartments could be particularly beneficial due to their lower entry price point and steady appreciation rate.
Future Market Outlook
The future outlook for Brooks’ real estate market remains optimistic based on current trends. Continued population growth is expected to sustain demand for housing, which could lead to further increases in property values. If the economic conditions remain stable and interest rates favorable, Brooks could continue seeing a balanced yet progressive market trajectory.
In conclusion, while no investment is without risk, Brooks presents itself as an attractive market with solid growth potential backed by demographic trends and historical data. Investors should consider the continued growth prospects when contemplating real estate transactions in this region.
