The Red Deer Home Sales & Listing Comparison keeps you on top of the Red Deer real estate market and how sales compare to the number of homes listed each week. If there’s a deficit or a surplus trend the market is changing. Check in at www.iOnRealEstate.ca each week for updated Red Deer real estate news, stats, and information.
SUMMARY
This week the market rolled out much like the week prior. Still a deficit but last week the deficit was -9 and this week it’s -4. With interest rates up it’s surprising to see sale remain strong in Central Alberta. With uncertainty as to whether interest rates will continue climbing, some buyers are betting on it and hoping to get in before they do.
Know your market
If you’re planning to buy or sell residential real estate now or in the future, it’s important to understand as much about your local market as possible. That’s why each week at iOnRealEstate.ca we post this Red Deer Real Estate market report comparing the number of homes leaving the market (sold and expired/canceled) to homes entering the market (listings). It’s important to compare home sales to home listings to help understand the market and inventory levels. See the monthly inventory report for Central Alberta at iOnRealEstate.ca.
Your market is local
Before planning a real estate transaction in Red Deer it’s important to understand that your real estate market is local. Keep in mind, that when someone references the “Canadian real estate market” or even the “Alberta real estate market” it doesn’t necessarily apply to your local market. Too many real estate decisions are based on national real estate information but national stats need to be taken lightly because it has almost no relevance to your local market.
Red Deer Home Sales & Listing Comparison report for the week of Oct 17th – Oct 23rd, 2022
Click here for last week’s results <<
Red Deer Home Sales & Listing Comparison
Number of single-family detached homes sold: 24
Number of single-family detached homes listed: 24
The average price of single-family detached homes sold: $385,045
Number of other properties (condo, apart, duplex, town-home) sold: 13
Number of other properties (condo, apart, duplex, town-home) listed: 13
Number of condominiums sold: 7
Number of condominiums listed: 7
The average price of condominiums sold: $126,270
Properties sold price breakdown
| Number of residential units sold between | 0-200k | 7 |
| Number of residential units sold between | 201-300k | 10 |
| Number of residential units sold between | 301-400k | 12 |
| Number of residential units sold between | 401-500k | 4 |
| Number of residential units sold between | 501-750k | 4 |
| Number of residential units sold above | 751k | 0 |
Total entered the market
Listings: 37
Total off the market
Expired & canceled: 4
Listings sold: 37
Margin
37 (entered market) – 41 (off-market) = –9
Click here for last week’s results
View the monthly inventory stats now at http://www.iOnRealEstate.ca.
For more local real estate news, info and statistics continually check in at www.iOnRealEstate.ca.
Hosted by Blake King Realtor® and Big Earth Realty. Blake continually monitors the Red Deer and Central Alberta real estate market to track changes and watch trends so he can help his clients make the most informed decisions, buying or selling. If you want to learn more about how local market stats impact your next real estate transaction call or email Blake anytime (403) 350-7672 or hello@blakeking.ca