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!
Inventory levels are normalizing somewhat in some Central Alberta communities. One community has peeked outside the seller market range but all others are still below 2.4 months-of-inventory. Will the higher interest rates slow sales and allow inventory levels to normalize?
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 3.9-4.3 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 | |||
| properties currently for sale | 139 | 149 | 145 | 173 | 164 | 189 | 175 | 182 | 173 | |||
| avg # of homes selling ea. month | 47 | 44 | 58.5 | 79 | 106 | 122 | 120 | 141 | 107 | |||
| M.O.I. in Red Deer | 2.4 | 3.4 | 2.5 | 2.2 | 1.5 | 1.6 | 1.5 | 1.3 | 1.6 |
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 | |||
| properties currently for sale | 249 | 270 | 270 | 287 | 283 | 264 | 253 | |||||
| avg # of homes selling ea. month | 99.5 | 130 | 167 | 199 | 202 | 197.5 | 184 | |||||
| M.O.I. in Red Deer | 2.5 | 2.1 | 1.6 | 1.4 | 1.4 | 1.3 | 1.4 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
A reprieve on inventory levels this past month… a little.
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 | |||
| properties currently for sale | 32 | 30 | 37 | 49 | 56 | 57 | 65 | 58 | 47 | |||
| avg # of homes selling ea. month | 13.5 | 10.5 | 14 | 20.5 | 25 | 30 | 28 | 23.5 | 25 | |||
| M.O.I. in Red Deer | 2.4 | 2.9 | 2.6 | 2.4 | 2.2 | 1.9 | 2.3 | 2.5 | 1.9 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Sylvan Lake home-for-sale inventory dips below 2 M.O.I. for the second time this year.
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 | |||
| properties currently for sale | 13 | 12 | 7 | 9 | 11 | 11 | 8 | 10 | 11 | |||
| avg # of homes selling ea. month | 3 | 4.5 | 6.5 | 10 | 8.5 | 7 | 8.5 | 9.5 | 9.5 | |||
| M.O.I. in Red Deer | 4.3 | 2.7 | 1 | 0.9 | 1.3 | 1.6 | 0.9 | 1.1 | 1.2 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Super low inventory level in Penhold/Springbrook still!
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 | |||
| properties currently for sale | 26 | 27 | 35 | 34 | 27 | 27 | 26 | 23 | 21 | |||
| avg # of homes selling ea. month | 9 | 6 | 8 | 19 | 21 | 21 | 23 | 29 | 26 | |||
| M.O.I. in Red Deer | 3.1 | 4.5 | 4.7 | 1.8 | 1.3 | 1.3 | 1.1 | 0.8 | 0.8 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Blackfalds, Alberta – home-for-sale inventory less than 1 month still.
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 | |||
| properties currently for sale | 19 | 21 | 21 | 24 | 21 | 28 | 24 | 28 | 27 | |||
| avg # of homes selling ea. month | 10 | 4 | 5.5 | 14 | 20 | 24 | 23.5 | 18.5 | 18 | |||
| M.O.I. in Red Deer | 1.9 | 5.3 | 3.8 | 1.8 | 1.1 | 1.2 | 1.0 | 1.5 | 1.5 |
(SELLER’S MARKET) with an inventory rate below 3.9 months!
Very low months-of-inventory again in Lacombe, 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 | |||
| properties currently for sale | 24 | 27 | 23 | 21 | 21 | 20 | 18 | 13 | 18 | |||
| avg # of homes selling ea. month | 4 | 4.5 | 6 | 8.5 | 12.5 | 13 | 10 | 11 | 12.5 | |||
| M.O.I. in Red Deer | 6 | 6 | 3.8 | 2.5 | 1.7 | 1.5 | 1.8 | 1.2 | 1.4 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Inventory levels in Innisfail, Ab at improve slightly.
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 | |||
| properties currently for sale | 30 | 34 | 31 | 33 | 37 | 43 | 39 | 39 | 44 | |||
| avg # of homes selling ea. month | 2 | 2.5 | 2.5 | 7.5 | 16 | 17 | 14.5 | 14 | 10 | |||
| M.O.I. in Red Deer | 15 | 13.6 | 12.4 | 4.4 | 2.4 | 2.5 | 2.7 | 2.8 | 4.4 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Rocky Mountain House home-for-sale inventory normalizes to put it back in buyer market status.
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 | |||
| properties currently for sale | 14 | 20 | 21 | 20 | 26 | 29 | 30 | 22 | 28 | |||
| avg # of homes selling ea. month | 4.5 | 4.5 | 6 | 7 | 9 | 10 | 9 | 10.5 | 14.5 | |||
| M.O.I. in Red Deer | 3.1 | 4.4 | 3.5 | 2.9 | 2.9 | 2.9 | 3.3 | 2.1 | 1.9 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Inventory levels in Ponoka, Alberta dip below 2 M.O.I. again.
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 | |||
| properties currently for sale | 20 | 18 | 20 | 21 | 22 | 21 | 18.5 | 30 | 26 | |||
| avg # of homes selling ea. month | 3 | 2 | 5.5 | 10 | 10.5 | 10.5 | 13 | 8 | 11.5 | |||
| M.O.I. in Red Deer | 6.7 | 9 | 3.6 | 2.1 | 2.1 | 2 | 1.4 | 3.8 | 2.3 |
SELLER’S MARKET) with an inventory rate below 3.9 months!
Maybe the most normal inventory level in Central Ab and teetering on a balanced market level.
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
