Brooks, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Brooks, Alberta, is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing signs of healthy appreciation. Apartments are also seeing positive growth with a median price of $300,000 and a 2.1% rise year-over-year. This growth is supported by the town’s increasing population, which has grown by 7.1%, indicating a rising demand for housing in the area.
Investment Opportunities and Potential
Brooks presents potential investment opportunities particularly due to its consistent price trends for both houses and apartments. The moderate but steady increase in property values suggests that investments made now could yield reasonable returns over time without the volatility seen in larger markets. Additionally, the town’s population growth could lead to higher rental demand, potentially providing attractive opportunities for those looking to invest in rental properties or developments.
Future Market Outlook
The future outlook for Brooks’ real estate market appears promising. Given the current trends of population growth and property price increases, it is reasonable to anticipate continued demand for housing. The sustained growth patterns suggest that the market is stable and likely to maintain its upward trajectory in the medium term. However, investors should keep an eye on broader economic conditions and local developments that could impact these trends.
