Central Alberta real estate inventory report starting 2023

The red deer real estate market inventory

Central Alberta real estate months of 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!
Only 2 communities in the buyer market range starting the new year but they are smaller towns were sales numbers can roller coaster from month to month making the M.O.I. less stable. From here through to summer we could see higher M.O.I. through the Central Alberta real estate market with the higher interest rates.


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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
———————————————–
(Balanced market) with inventory between 3.9-4.3 months-of-inventory
———————————————–
(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

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 2Jan 2/23
properties currently for sale281214154167161189225268291302269235196139
avg # of homes selling ea. month84838810613515815913311810591.588.587.547
M.O.I. in Red Deer3.52.61.81.61.21.21.422.52.92.92.72.22.4

(SELLER’S MARKET) with an inventory rate below 3.9 months!
A lot of homes off the market for the holidays. but the slower sales balanced out. We will likely see M.O.I. increase in the new year.


Sylvan Lake, AB

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 2/23
properties currently for sale373740465771736659434032
avg # of homes selling ea. month2029444440343230.525211413.5
M.O.I. in Sylvan Lake1.91.30.911.42.12.32.22.422.92.4

(SELLER’S MARKET) with an inventory rate below 3.9 months!
Both of the last two months of the year showed slow sales in Sylvan Lake, Ab. Lower-than-average inventory levels kept M.O.I. low.


Penhold, AB and Springbrook

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 2/23
properties currently for sale2017171113111111161918161613
avg # of homes selling ea. month6447111311119.577.56.54.53
M.O.I. in Penhold/S3.34.34.31.61.20.8111.72.72.42.53.64.3

SELLER’S MARKET) with an inventory rate below 3.9 months!
Penhold M.O.I is up a little but still in nice shape considering everything.


Blackfalds, AB

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 2/23
properties currently for sale3750372532364750484337313326
avg # of homes selling ea. month201415.525333132.5302014.513.512.511.58.5
M.O.I. in Blackfalds1.93.62.41.01.01.21.41.72.432.72.52.93.1

(SELLER’S MARKET) with an inventory rate below 3.9 months!
M.O.I. up in Blackfalds but still a seller’s market.


Lacombe, AB

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 3/23
properties currently for sale5147413625263240415147433219
avg # of homes selling ea. month151282033362920.515.51514.514.51510
M.O.I. in Lacombe3.43.95.11.80.80.71.122.63.43.232.11.9

SELLER’S MARKET) with an inventory rate below 3.9 months!
Very low inventory in Lacombe, AB!


Innisfail, AB

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9MissedJuly 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 3/23
properties currently for sale36302520181933233122242224
avg # of homes selling ea. month8.566.510.520.5191416.5118.5106.54
M.O.I. in Innisfail 4.253.81.90.91.02.41.42.82.62.43.96

(Buyer market) level B  (6 – 7.2 m.o.i.)
Very low sales over the last 60 days jumps Innisfail’s M.O.I. up for the start of the year.

Rocky Mountain House

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 3/23
properties currently for salenew444037373630
avg # of homes selling ea. montharea15.514138.552
M.O.I. in Rocky Mtn. Houseadded2.82.92.84.47.215

(Buyers market) extreme  (7.3+ m.o.i.)
I don’t know who has talked so many people into listing their homes right now but very high inventory like this will impact prices in Rocky Mountain House.


Ponoka, AB

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 3/23
properties currently for sale4936373032394245514734272514
avg # of homes selling ea. month7.5984.51220.519.513.510.5109.57.584.5
M.O.I. in Ponoka6.544.66.72.71.92.23.34.94.73.63.63.13.1

(SELLER’S MARKET) with an inventory rate below 3.9 months!
Sales are low in Ponoka but inventory numbers are in good shape.


Stettler, AB

Date 2021/2022Dec 7Jan 7Feb 9Mar 9Apr 11May 9June 2July 4Aug 2Sept 6Oct 2Nov 1Dec 3Jan 3/23
properties currently for sale2422161921242334343129262920
avg # of homes selling ea. month74912.511.59.5119.511.59.596.512.53
M.O.I. in Stettler3.45.51.91.51.82.52.13.633.33.242.36.7

(Buyer market) level B  (6 – 7.2 m.o.i.)
Back to buyer’s market status for Stettler after the new year. However, in a small town like Stettler, sales numbers can roller coaster from month to month making the M.O.I. less certain.


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.

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I host iOnRealEstate.ca for Central Albertan’s 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
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