July sales up making it two months in a row

july sale up

July sales up for the second month in a row! Even during our COVID-19 issues, Red Deer’s real estate sales have surpassed the same months last year. Detached home sales were up 14% in July 2020 and that followed a 1% surplus in June.

July 2020 saw 113 detached residential homes sell in Red Deer with only 99 selling last year. Across the board, including all residential units sold, sales were still up over 8%.

A closer look

However, some perspective, sales in 2019 were nothing to be impressed by and we might only be seeing the sales that would have normally happened earlier in the year.

low commission home sales in red deer

Sales have been slowing each year since 2014 and to surpass any two months in 2019 is no big feat. It’s not bad news that sales are up but it’s not worth getting too excited about. The interesting thing is, it’s happening during all the COVID-19 issues.

Another element to consider is the low we experienced in April and May. 93 fewer homes sold in April and May 2020 than the same months in 2019 and only 20 more sold in the two months following.

Sales are still actually down

If were to compare this year’s sales to last years sales, we’ve seen 76 fewer detached homes sell this year in total. Remember though, last years were low. And overall, total detached homes sales in 2020 over 2019 is 13% lower.

cash back to home buyers

Higher sales news during COVID-19 appears more exciting at first glance but it’s only good news considering what was expected.

The hard truth is, home sales in 2020 are still even lower than the slowest sales year in the last decade, 2019.

Check back to keep up to date

Check-in at www.iOnRealEstate.ca often to see what’s happening in Red Deer and Central Alberta’s real estate market. Will sale climb and still compete with last years numbers and what will happen with the average sale price?