Detached home sales up 35% in December for Red Deer, Alberta

Detached home sales up 35% in December and 49% overall in for 2021

2021 was an interesting year internationally and at home in our local real estate market.

What started out as uncertainty early in 2020 turned into a decade-high year for the Red Deer real estate market.

Inventory stayed very low last year and that caused prices the trend upward. In addition, home sales were much higher than they have been.

The year ended with December home sales 35% higher than December 2020. Every month this past year beat 2020 numbers except for one. And, I think sales would’ve been even higher if there were more homes to be purchased throughout the last year.

Our highest home sales year this decade was in 2014 and this past year we almost tied that number. Who would have expected the second-highest home sales year would be during a pandemic?

Overall, detached home sales in Red Deer were 49% higher than they were in 2020. And to help put that into perspective, 2021 homes sales were only 0.3% (5 units) lower than our highest sales year this decade (2014).

Will home sales remain higher in 2022? There’s a really good chance they will. Interest rates will likely hold steady through the middle of the year and even if they do increase they won’t jump much. With home sales higher we might even see prices continue to increase. That however will be determined mostly by inventory levels. If inventory levels stay low prices will continue to increase.