Real Estate update December 2017

Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 4,465 units in October 2017, down 1.3% from a year earlier. It was also slightly below the 10-year average for the month. On a year-to-date basis, home sales totaled 50,004 units over the first 10 months of the year, up 8.5% from the same period in 2016. Nationally, home sales activity was down 4.3% from year-ago levels in October 2017. The provincial average price for homes sold in October 2017 was $395,429, edging up 1% from a year earlier. The year-to-date average price figure was $400,301, up 1.5% from the first ten months of 2016.The national average price, by comparison, rose 5% on a year-over-year basis to $505,937 in October 2017. Across Alberta, monthly residential average prices were up from year-ago levels in South Central Alberta (+8.3%), Medicine Hat (+4.9%), The Edmonton board (+4.9%), Central Alberta (-2.9%), Calgary (+3.3%) and Alberta West (-0.19%). Meanwhile, average prices declined in Lloydminster AB (-2.2%), Lethbridge (-4.4%), Grande Prairie (-11.6%) and Fort McMurray (-14.7%).

New listings on the MLS® Systems of real estate boards in Alberta numbered 8,484 units in October, rising 10.8% from a year earlier. This was the highest level for the month in nine years. Active residential listings numbered 30,466 units at the end of October, up 12.6% from one year earlier. This was the highest level for the month in nine years. There were 6.8 months of inventory at the end of October 2017, up from six months at the same time one year ago and above the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The value of all home sales in the province totaled $1.76 billion in October 2017, edging down 0.4% from October 2016. The dollar volume of all home sales in Canada edged up 0.4% on a year-over-year basis. Sales of all property types in Alberta numbered 4,708 units in October, down 3.6% from October 2016. The value of those sales amounted to $1.9 billion, a decrease of 3.4% from a year earlier. A total of 1,845 home sales were recorded through the MLS® System of the Calgary Real Estate Board in October, down 10.3% from a year earlier. The combined value of home sales activity in Calgary was $850.4 million, 8.2% below year-ago levels. There were 1,589 home sales recorded through the MLS® System of the REALTORS® Association of Edmonton, up 8.6% from October 2016. The total value of home sales in Edmonton was $596.6 million in October 2017, up 14% on a year-over-year basis.

Saskatchewan 2016 Farm Land Values Report

The average value of Saskatchewan farmland increased 7.5 per cent in 2016, following gains of 9.4 per cent in 2015 and 18.7 per cent in 2014. Values in the province have continued to rise since 2002.Provincially, there was strong demand and sales activity, including opportunities for producers to purchase leased land from the province. However, not all areas of the province saw increases in land prices. In fact, some rural municipalities saw land prices trending downward, while other areas remained stable. Adverse weather conditions throughout the growing season appeared to depress prices, but not necessarily temper demand. The southwest corner of the province had steady demand and values increased in that area by an average of 16.6 per cent, representing the highest increase in the province. Although there were challenges with the lentil harvest, the resulting yields and quality ended up being better than expected. Northwest part of the province continued to see strong demand and increased prices throughout the year, resulting in a 10.3 per cent increase in farmland values. Areas with larger farm operations continued to compete for land that came up for sale, causing land values to increase.

Alberta Real Estate Update 2017

Alberta home sales and average price both up year-over-year in May 2017. Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 6,251 units in May 2017, rising 9.1% from a year earlier. That said, it was still just below the 10-year average for the month.On a year-to-date basis, home sales totaled 23,369 units over the first five months of the year, up 12.8% from the same period in 2016. Nationally, home sales activity was down 1.6% from year-ago levels in May 2017. The provincial average price for homes sold in May 2017 was a record $412,382, rising 2.3% from a year earlier. The year-to-date average price figure was $402,557, up 2.5% from the first five months of 2016. The national average price, by comparison, rose 4.3% on a year-over-year basis to $530,304 in May 2017. Across Alberta, monthly residential average prices were up from year-ago levels in Fort McMurray (+43.6% due to wildfires last May), Lethbridge (+6.8%), South Central Alberta (+4.2%), Medicine Hat (+2.8%), Edmonton board (+2.2%), and Calgary (+1.8%). By contrast, average prices declined year-over-year in Central Alberta (-0.9%), Grande Prairie (-1.4%), Alberta West (-5.2%), and Lloydminster AB (-8.4%). New listings on the MLS® Systems of real estate boards in Alberta numbered 13,228 units in May, rising 22.3% from a year earlier. Active residential listings numbered 32,336 units at the end of May, up 8.9% from one year earlier. There were 5.2 months of inventory at the end of May 2017, unchanged from the same time one year ago but slightly above the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. The value of all home sales in the province totaled $2.6 billion in May 2017, rising 11.7% from May 2016. The dollar volume of all home sales in Canada rose 2.6% on a year-over-year basis. Sales of all property types in Alberta numbered 6,555 units in May, up 6.2% from May 2016. The value of those sales amounted to $2.8 billion, an increase of 8.7% from a year earlier. A total of 2,657 home sales were recorded through the MLS® System of the Calgary Real Estate Board in May, rising 9% from a year earlier. The combined value of home sales activity in Calgary was $1.3 billion, 10.9% above year-ago levels. There were 2,211 home sales recorded through the MLS® System of the REALTORS® Association of Edmonton, up 7.2% from May 2016. The total value of home sales in Edmonton was $851.4 million in May 2017, up 9.6% on a year-over-year basis. Source: CREA

Alberta Real Estate Update

Alberta home sales rise on year-over-year basis in February 2017. Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 3,830 units in February 2017, rising 20.8% from a year earlier. This stood just below but broadly in line with the five and 10-year averages for the month.On a year-to-date basis home sales totaled 6,509 units over the first two months of the year, up 19.5% from the same period in 2016.Nationally, home sales activity was down 2.6% from year-ago levels in February 2017.The provincial average price for homes sold in February 2017 was $389,943, edging up just 0.5% from a year earlier. The year-to-date average price figure was $387,102, up 1.6% from the first two months of 2016. Across Alberta, monthly residential average prices were up from year-ago levels in Calgary (+2.6%), Grande Prairie (7.2%), Lloydminster AB (15.6%) and Alberta West (8.4%). By contrast, average prices declined year-over-year in Fort McMurray (-19.9%), Lethbridge (-4.2%), Edmonton Board (-0.5%), Central Alberta (-6.3%), Medicine Hat (-10%) and South Central Alberta (-4%).

2016 Alberta Real Estate Update

Across Alberta, monthly residential average prices were up from year-ago levels in Edmonton (+0.7 per cent). In contrast, average prices decreased year-over-year in all other areas of the province, falling in Calgary (-0.5 per cent), Lethbridge (-3.8 per cent), Alberta West (-4.2 per cent), Grande Prairie (-6.8 per cent), Medicine Hat (-8.7 per cent), Central Alberta (-9.4 per cent), Fort McMurray (-20.2 per cent), Lloydminster (AB) (-21 per cent), and South Central Alberta (-25.7 per cent). New listings on the MLS® Systems of real estate boards in Alberta numbered 10,756 units in March, edging up two per cent from a year earlier. Active residential listings numbered 27,194 units at the end of March, up 13.5 per cent from one year earlier.

Source: CREA

FCC Reports Alberta Farm Land Value Increase

The average value of Alberta farmland increased 11.6% in 2015. This was after increases of 8.8% in 2014 and 12.9% in 2013. The majority of the province experienced a steady increase in farmland values throughout the year. The continued positive outlook on agriculture resulted in many producers purchasing land for expansion or to support succession planning. Agricultural land price increases were observed in northern, eastern and southern portions of the province, largely due to strong pulse crop prices. Continued strength in beef prices resulted in increased demand for land used for grazing in cattle producing areas as well. There were localized areas that started to reflect the impact of the downturn in the resource sector or appeared to have reached the point where the demand for cultivated land lessened.

2014 Alberta Farm Land Values Report

Alberta farmland values increased an average of 8.8% in 2014, following gains of 12.9% in 2013 and 13.3% in 2012. Values in the province have continued to climb since 1993.In southern Alberta, demand for irrigated land remained strong, especially from specialty crop producers looking to expand contracts. Traditional crop producers sought to purchase irrigated land due to the higher commodity prices seen in the first half of 2014. Dry land producers also contributed to a steady demand for farmland due to higher commodity prices and general optimism in the area.Strong beef prices have increased the demand for pasture in the more traditional beef areas throughout the province. This was especially prevalent in the central to northern east portions of the province.

https://www.fcc-fac.ca/fcc/about-fcc/corporate-profile/reports/farmland-values/farmland-values-report-2014.pdf

Colliers International Cap Rate Report Q4 2013

Each quarter Colliers International survey top investors, more than 250 commercial property brokers and 30 registered commercial appraisers covering all major markets in Canada regarding current market conditions. The following capitalization rates are based on the responses they provided for the fourth quarter of 2013. Please note that this is

http://www.collierscanada.com/~/media/Files/Research/2014/Q4%202013%20Cap%20Rate%20Report.ashx

Real Estate Update CREA

From CREA website:

Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 4,699 units in November 2014, rising three per cent from a year earlier. This was the best November in eight years and the third highest on record for the month.Nationally, home sales activity was up 2.7 per cent from year-ago levels in November 2014.

On a year-to-date basis home sales activity in the province (68,706 units sold) was running 9.2 per cent ahead of levels from the same time last year. This marked the second best year-to-date figure on record, standing just 1.8 per cent behind the all-time record set in 2006.

The provincial average price for homes sold in November 2014 was $407,071, an increase of 5.7 per cent from November 2013. This was the second highest average price on record. The national average price, by comparison, rose 5.7 per cent on a year-over-year basis to $413,649.

Monthly residential average prices were up from year-ago levels in South Central Alberta (+14.5 per cent), Lethbridge (+12.0 per cent), Edmonton board (+10.6 per cent), Lloydminster (+9.8 per cent), Medicine Hat (+8.9 per cent), Grande Prairie (+8.4 per cent), Fort McMurray (+7.2 per cent), and Calgary (+3.8 per cent). Average prices declined on a year-over-year basis in Alberta West (-0.2 per cent) and Central Alberta (-0.7 per cent).

New listings on the MLS® Systems of real estate boards in Alberta numbered 6,005 units in November, an increase of 6.7 per cent from a year earlier. Active residential listings numbered 18,452 units at the end of November, edging up 1.3 per cent from one year earlier.

There were 3.9 months of inventory at the end of November 2014, little changed from 4.0 months at the same time one year ago and below the long-run average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The value of all home sales in the province totaled $1.9 billion in November 2014, up 8.8 per cent from November 2013 and a record for the month. The dollar volume of all home sales in Canada was up 8.5 per cent on a year-over-year basis.

Sales of all property types in Alberta numbered 4,998 units in November, up 1.3 per cent from November 2013. The value of those sales amounted to $2.1 billion, rising 4.9 per cent from a year earlier.

A total of 2,292 home sales were recorded through the MLS® System of the Calgary Real Estate Board in November, rising 5.5 per cent from a year earlier. The combined value of home sales activity in Calgary was $1.1 billion, a 9.5 per cent increase from year-ago levels.

Real Estate Update Alberta

Residential sales activity reported through the MLSR Systems of real estate
boards in Alberta numbered 6,354 units in August 2014, rising four per cent
from a year earlier. This was a new record for home sales in the month of
August.Nationally, home sales activity was up two per cent from year-ago levels in August 2014.

On a year-to-date basis home sales activity in the province was running 10
per cent ahead of levels from the same time last year. It marked the best
first eight months of any year since 2007 and the third best ever.

The provincial average price for homes sold in August 2014 was $397,701 an increase of four per cent from August 2013. The national average price, by comparison, rose five per cent on a year-over-year basis to $398,618.

Monthly residential average prices were up from year-ago levels in South
Central Alberta (+27 per cent), Lloydminster (+15 per cent), Grande Prairie
(+10 per cent), Central Alberta (+7 per cent), Lethbridge (+7 per cent),
Calgary (+5 per cent), and Edmonton (+4 per cent). On the other hand prices declined in Alberta West (-2 per cent), Medicine Hat (-2 per cent) and Fort McMurray (-7 per cent).