Real Estate 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.
SUMMARY!
Practically all Central Alberta communities saw homes-for-sale inventory increase this month. This is a good thing, the idea market is a balanced market, approx 3.9-4.2 months of inventory.
NOTE!
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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 an inventory rate below 3.9 months-of-inventory
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(Balanced market) with inventory between 3.9-4.2 months-of-inventory
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(Buyers market) level A (4.3 – 5.9 months of inventory)
(Buyer market) level B (6 – 7.2 m.o.i.)
(Buyers market) extreme (7.3+ m.o.i.)
Below are “single-family detached” for sale inventory levels in Red Deer and towns throughout Central Alberta. The “average # of homes selling ea. month” is calculated using the last 60-day sales.
Red Deer, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 139 | 149 | 145 | 173 | 164 | 189 | 175 | 182 | 173 | 159 | 158 | 148 |
| avg # of homes selling ea. month | 47 | 44 | 58.5 | 79 | 106 | 122 | 120 | 141 | 107 | 107 | 93 | 79.5 |
| M.O.I. in Red Deer | 2.4 | 3.4 | 2.5 | 2.2 | 1.5 | 1.6 | 1.5 | 1.3 | 1.6 | 1.5 | 1.7 | 1.9 |
Red Deer, Ab (for sale inventory overall)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 249 | 270 | 270 | 287 | 283 | 264 | 253 | 228 | 235 | 223 | ||
| avg # of homes selling ea. month | 100 | 130 | 167 | 199 | 202 | 198 | 184 | 171.5 | 146 | 126.5 | ||
| M.O.I. in Red Deer | 2.5 | 2.1 | 1.6 | 1.4 | 1.4 | 1.3 | 1.4 | 1.3 | 1.6 | 1.8 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Inventory levels in Red Deer increasing for two months straight but still lower than the same time last year.
Sylvan Lake, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 32 | 30 | 37 | 49 | 56 | 57 | 65 | 58 | 47 | 44 | 44 | 40 |
| avg # of homes selling ea. month | 14 | 10.5 | 14 | 20.5 | 25 | 30 | 28 | 24 | 25 | 25.5 | 22 | 16.5 |
| M.O.I. in Red Deer | 2.4 | 2.9 | 2.6 | 2.4 | 2.2 | 1.9 | 2.3 | 2.5 | 1.9 | 1.7 | 2 | 2.4 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Sylvan Lake’s real estate inventory levels also increasing. But still in a seller’s market.
Penhold/Springbrook, Ab (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 13 | 12 | 7 | 9 | 11 | 11 | 8 | 10 | 11 | 8 | 7 | 9 |
| avg # of homes selling ea. month | 3 | 5 | 7 | 10 | 9 | 7 | 9 | 9.5 | 9.5 | 6 | 4.5 | 5 |
| M.O.I. in Red Deer | 4.3 | 2.7 | 1 | 0.9 | 1.3 | 1.6 | 0.9 | 1.1 | 1.2 | 1.3 | 1.6 | 1.8 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
The Penhold area is still in a seller’s market.
Blackfalds, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 26 | 27 | 35 | 34 | 27 | 27 | 26 | 23 | 21 | 21 | 23 | 21 |
| avg # of homes selling ea. month | 9 | 6 | 8 | 19 | 21 | 21 | 23 | 29 | 26 | 17 | 14.5 | 9.5 |
| M.O.I. in Red Deer | 3.1 | 4.5 | 4.7 | 1.8 | 1.3 | 1.3 | 1.1 | 0.8 | 0.8 | 1.2 | 1.6 | 2.2 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Real estate inventory in Blackfalds, Ab has increased again this past month.
Lacombe, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 19 | 21 | 21 | 24 | 21 | 28 | 24 | 28 | 27 | 21 | 21 | 19 |
| avg # of homes selling ea. month | 10 | 4 | 5.5 | 14 | 20 | 24 | 23.5 | 18.5 | 18 | 18 | 10 | 6.5 |
| M.O.I. in Red Deer | 1.9 | 5.3 | 3.8 | 1.8 | 1.1 | 1.2 | 1.0 | 1.5 | 1.5 | 1.2 | 2.1 | 2.9 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Lacombe, Ab has the highest inventory levels amongst the larger communities in Central Ab.
Innisfail, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 24 | 27 | 23 | 21 | 21 | 20 | 18 | 13 | 18 | 16 | 10 | 9 |
| avg # of homes selling ea. month | 4 | 4.5 | 6 | 8.5 | 12.5 | 13 | 10 | 11 | 12.5 | 9 | 9.5 | 7 |
| M.O.I. in Red Deer | 6 | 6 | 3.8 | 2.5 | 1.7 | 1.5 | 1.8 | 1.2 | 1.4 | 1.8 | 1.1 | 1.3 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Very low homes-for-sale inventory in Innisfail again this month.
Rocky Mountain House (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 30 | 34 | 31 | 33 | 37 | 43 | 39 | 39 | 44 | 32 | 22 | 22 |
| avg # of homes selling ea. month | 2 | 2.5 | 2.5 | 7.5 | 16 | 17 | 14.5 | 14 | 10 | 6 | 9 | 10.5 |
| M.O.I. in Red Deer | 15 | 13.6 | 12.4 | 4.4 | 2.4 | 2.5 | 2.7 | 2.8 | 4.4 | 5.3 | 2.4 | 2.1 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Listing numbers down, sales reasonable, lower M.O.I. (months of inventory).
Ponoka, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 14 | 20 | 21 | 20 | 26 | 29 | 30 | 22 | 28 | 32 | 32 | 24 |
| avg # of homes selling ea. month | 4.5 | 4.5 | 6 | 7 | 9 | 10 | 9 | 10.5 | 14.5 | 17 | 13 | 9.5 |
| M.O.I. in Red Deer | 3.1 | 4.4 | 3.5 | 2.9 | 2.9 | 2.9 | 3.3 | 2.1 | 1.9 | 1.9 | 2.5 | 2.5 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Inventory levels in Ponoka, Alberta stay the same.
Stettler, AB (inventory of detached homes)
| Date 2023 | Jan 2 | Feb 1 | Mar 2 | Apr 1 | May 2 | Jun 1 | Jul 4 | Aug 1 | Sept 5 | Oct 3 | Nov 1 | Dec 1 |
| properties currently for sale | 20 | 18 | 20 | 21 | 22 | 21 | 18.5 | 30 | 26 | 24 | 22 | 25 |
| avg # of homes selling ea. month | 3 | 2 | 5.5 | 10 | 10.5 | 10.5 | 13 | 8 | 11.5 | 8.5 | 6.5 | 6 |
| M.O.I. in Red Deer | 6.7 | 9 | 3.6 | 2.1 | 2.1 | 2 | 1.4 | 3.8 | 2.3 | 2.8 | 3.4 | 4.2 |
(Balanced market) with inventory between 3.9-4.2 months-of-inventory
Stettler is the only community in Central Alberta in a buyer’s market! Not a bad thing if it doesn’t go much higher
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.
I host iOnRealEstate.ca for Central Albertans wanting to keep in-the-know regarding the local real estate market. More information contributes to better decisions and with an asset as great as your home it’s important to do your best!
Blake King
Big Earth Realty
(403) 350-7672
