The local real estate months of inventory or (M.O.I.) rate could be the most important real estate data to impact your real estate buying and selling decisions… and it’s important to understand why.
!IMPORTANT READ!
Seller’s markets in 5 of the 8 communities watched. Red Deer and Blackfalds have the lowest m.o.i. (months of inventory) and besideds Ponoka’s higher numbers the market’s inventory in Central Alberta is pretty sharp. Fewer people listed their homes for sale in 2020 and we can see the impact that’s had. With lower m.o.i. we could see prices roaming upwards.
If you need to discuss any real estate news in addition to months of inventory or the critical approach required to maximize your home sale while saving money in 2020 call Blake King with Big Earth Realty (403) 350-7672.
NOTE!
High inventory will affect prices, however, on the other hand, if you’re a buyer you can take advantage of high inventory at lower prices. The right purchase approach with an astute Realtor® can get you a very lower purchase price.
To encourage normal growth we need months of inventory or M.O.I. rates below the 5-month range. Scroll down for this month’s inventory rates through Central Alberta.
When buying or selling property take into consideration the local inventory stats. It’s the most important real estate news especially if you’re planning to sell your home. When months of inventory levels are high prices stay flat or decrease. When inventory levels are low homes will sell faster and prices will increase.
(Seller’s market) with inventory rate below 4.3 months!
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(level 1) moderate buyers market (4.3 – 6 months m.o.i.)
(level 2) steep buyers market (6.1 – 8 months m.o.i.)
(level 3) advanced buyers market (8.1 – 10.4 months m.o.i.)
(level 4) extreme buyers market (10.5+ months m.o.i.)
Below are “single-family detached” for sale inventory levels in Red Deer and towns through Central Alberta. The “average # of homes selling ea. month” is calculated using the last 60 day sales.
FIND PAST RESULTS AT WWW.HOMESCOPE.CA
Dec 12, 2019, Jan 17, Feb 24, Mar 16, April 15th, May 19th, June 23rd, July 16th, Aug 31, Sept 17, Oct 13, Nov 17, Dec 13 2020 – click the link above for previous months m.o.i. numbers.
Red Deer
properties currently for sale – 364/318/368/383/365/355/400/415/395/410/374/330/297
avg # of homes selling ea. month – 62/52/50.5/62/58/44/67/91/103.5/100/90.5/89/84
M.O.I. currently for sale in Red Deer – 5.9/6/7.3/6.2/6.3/8/6/4.6/3.8/4.1/4.1/3.7/3.5 m.o.i.
- (Seller’s market!) with inventory rate below 4.3 months!⬇︎
- Sales are still higher than normal and listings are lower!
Penhold
properties currently for sale – 23/23/34/41/45/44/35/26/29/30/25/18/20
avg # of properties selling ea. month – 3/2.5/2/3/4.5/5/7/4/4/9/9.5/7/5.5
inventory currently for sale in Penhold – 8/9/17/14/10/9/5/6.5/7.3/3.3/2.6/2.6/3.6 m.o.i.
*including Springbrook
- (Seller’s market!) with inventory rate below 4.3 months! ⬆︎
- Penhold / Springbrook market is still in-check!
Sylvan Lake
properties currently for sale 116/105/125/132/123/125/143/148/118/118/118/111/93
avg # of homes selling ea. month – 8/7/8/10.5/16/14.5/19/18/26.5/28.5/24/22/17.5
inv. currently for sale in Sylvan Lake – 14.5/15/16/12.6/7.7/8.6/7.5/8.2/4.5/4.1/5/5.2/5.3 m.o.i.
- (level 1) moderate buyers market (4.3 – 6 months m.o.i.)⬆︎
- The market in Sylvan Lake is currently in nice shape.
Blackfalds
properties currently for sale – 70/63/64/69/66/65/71/80/79/75/71/67/59
avg # of properties selling ea. month – 10/6.5/7.5/11.5/9.5/3.5/9.5/12/14.5/13.5/16.5/18.5/18
inventory currently for sale in Blackfalds – 7/10/8.5/6/7/18.6/7.5/6.7/5.5/5.5/4.3/3.6/3.3 m.o.i.
- (Seller’s market!) with inventory rate below 4.3 months!⬇︎
- Blackfalds is experiencing a seller’s market
Lacombe
properties currently for sale – 101/93/87/101/97/98/109/112/96/98/96/78/69
avg # of properties selling ea. month – 9/8.5/10/11/6.5/8/12.5/15.5/28/25/17.5/11.5/14.5
inventory currently for sale in Lacombe – 11/11/8.7/9.2/15/13/8.7/7.2/3.4/3.9/5.5/6.8/4.8 m.o.i.
- (level 1) moderate buyers market (4.3 – 6 months m.o.i.) ⬇︎
- Lacombe loses it’s seller’s market status with lower sales this month
Innisfail
properties currently for sale – 59/49/56/70/68/78/77/75/61/59/66/59/46
avg # of properties selling ea. month – 7/6/5.5/6/5/3.5/4.5/7/11.5/11/8/9.5/11
inventory currently for sale in Innisfail – 8.4/8/10/12/13.6/22.8/17/11/5.3/5.4/8.3/6.2/4.2 m.o.i.
- (Seller’s market!) with inventory rate below 4.3 months!⬇︎
- A very low m.o.i. in Lacombe contributing to the current seller’s market
Ponoka
properties currently for sale – 59/52/66/69/68/68/68/60/64/63/54/58
avg # of properties selling ea. month – 3/1.5/3.5/5.5/3.5/6/8.5/10/11.5/9/8/7.5
inventory currently for sale in Innisfail – 20/35/19/12.5/18/11.3/8/6/5.6/7/6.8/7.7 m.o.i.
- (level 2) steep buyers market (6.1 – 8 months m.o.i.) ⬆︎
- Too many homes listed for sale in Ponoka.
Stettler
properties currently for sale – 38/33/39/40/36/69/35/42/49/52/49/41/33
avg # of properties selling ea. month – 4/3.5/2/2/5/2.5/5/8/5.5/5.5/5.5/9.5/9
inventory currently for sale in Stettler – 9.5/9.4/20/20/7/28/7/5.3/8.9/9.5/9/4.3/3.7 m.o.i.
- (Seller’s market!) with inventory rate below 4.3 months!⬇︎
- This is what Stettler needs to sharpen the market there.
Find past results at www.HomeScope.ca
Even with high inventory, homes still sell, but the price is key **list slightly too high and your property will sit indefinitely if home prices aren’t increasing. Allowing your home to sit ‘for sale’ for months will affect its value now and down the road.
www.HomeScope.ca is where all past Red Deer real estate news, information and stats are located for viewing. Recently however I’m having trouble with the host and access to the site for updates. I’ve had similar service problems over the last 24 months with HomeScope.ca’s current service host so I’ve started www.iOnRealEstate.ca to mirror and gradually replace HomeScope.ca. iOnRealEstate.ca will begin to carry the same important local real estate market news, information and statistics.
Blake King
Big Earth Realty
(403) 350-7672
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