Yesterday’s Alberta land sale result of $4.13 million can only be described as disappointing after the previous sale on August 31st brought in $16.56 million.
That would make this result the third lowest of the 16 sales held so far this year.
There were a total of 78 parcels with successful bids for this sale and the cumulative total for all 2016 Alberta land sales now stands at $114.8 million.
The chart below illustrates the trend of the Alberta land sale results for all of 2016 and also shows the running total for the year.
The total area of the 78 parcels in this week’s sale was 33.2 thousand hectares with an average sale price of $124.35 per hectare. That’s down 61% from the $319.24 per hectare average from the previous sale on August 31.
Twenty-seven companies participated, and the largest bid accepted for a single parcel was $1.1 million paid by a land agent under the name Plunkett Resources. That was for a 7.75 section parcel in the Bonanza area of North Western Alberta just west of Fairview. The area has produced gas from the Lower Cretaceous Gething formation and oil from the Late Triassic Boundary and Doig formations.
The largest non-land agent purchaser was Wood River Resources Ltd. who paid $32.9 thousand for three sections in the same area.
The complete list of successful bidders is in the chart below.
The data for this post has been provided courtesy of CWD Inc.