Alberta Spring 2012 Farm Land Value 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: FCC Website

October 2011 Real Estate Information

October 2011 statistics for the City Medicine Hat showed the average residential sale price was $ $260,713. Year to date for 2011 showed an average sale price of $250,921. Vacancy rates were 9.4 % for fall 2011. The provincial average rent for fall 2011
all apartment types in Medicine Hat was $663 monthly which was the lowest average rent among all urban centres in Alberta. The lowest average rent across urban centres for a two bedroom apartment was in Medicine Hat at $698 per month, up from $691 in October 2010. As of November 2011 there are currently 706 active residential listings which is down from the month of October 2011 which had 810 active residential listings. Single family and multi-family housing starts were down 52% year to date as of June 2010.

(Information provided by Alberta Real Estate Association, CHMC )

2011 Medicine Hat Real Estate Report

August 2011 statistics for the City Medicine Hat showed the average residential sale price was $261,147. Year to date for 2011 showed an average sale price of $251,878. Vacancy rates were 9.4 % as of April 2011. Single family and multi-family housing starts were down 52% year to date as of June 2010.

(Information provided by Alberta Real Estate Association, CHMC )