A large deficit of homes-for-sale left the market again this week in Red Deer – Week 38

Red Deer weekly real estate market report

Red Deer’s “home listings vs. sales comparison” helps everyone keep their finger on the pulse of the Red Deer real estate market. If there’s a deficit or a surplus trend, the market is changing. Check-in at www.iOnRealEstate.ca often for updated Red Deer real estate news, stats, and information.

When are things going to turn around? Again this week we see a way greater number of homes leaving the market than entering it. 35 more homes sold this week than were listed. Generally there are fewer homes listed in the fall but also there are generally fewer sold. Prices will continue upward and that makes it a great time to sell!

Know your market

If you’re planning to buy or sell residential real estate soon, it’s important to understand as much about your local market as possible. 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 it’s important to understand that every real estate market is local. When someone references anything other than your local market it isn’t necessarily relevant. Too many real estate decisions are based on non-local real estate information but national stats need to be taken lightly because it often has no relevance to your local market.

Red Deer Home Sales & Listing Comparison report for the week of Sept 18th – Sept 24th, 2023

Red Deer Home Sales & Listing Comparison

Number of detached homes sold: 23
Number of detached homes listed: 9
The average price of detached homes sold: $399,539

Number of other properties (condo, apart, duplex, town-home) sold: 11
Number of other properties (condo, apart, duplex, town-home) listed: 1
Number of condominiums sold: 9
Number of condominiums listed: 2
The average price of condominiums sold: $227,167

Properties sold price breakdown

Number of residential units sold between0-200k6
Number of residential units sold between201-300k7
Number of residential units sold between301-400k13
Number of residential units sold between401-500k5
Number of residential units sold between501-750k1
Number of residential units sold above751k +2
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Total entered the market 
Listings: 10

Total off the market
Expired & canceled: 11
Listings sold: 34

(entered market) – 45 (off-market) = -35

View the monthly inventory stats now at https://www.iOnRealEstate.ca

For more local real estate news, info, and statistics continually check in at www.iOnRealEstate.ca.

blake king realtor broker

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 (403) 350-7672 or email anytime – hello@blakeking.ca

Red Deer home sales