The 12-month running price average in Red Deer is up again for both detached homes and homes overall
When I track the average price each month I look at the monthly average and how it changes but to see what direction the price is trending I use a 12-month running average. A person can look at the month-to-month average and see if more months are higher than lower, or vice-versa, but the 12-month average lets everyone see the impact the monthly averages are having overall.
The table below allows readers to see the month-to-month averages and the running 12-month average. And because the table goes back 13 months everyone can compare both the current month-to-month average and the 12-month average with the same month a year earlier.
| Overall | ooo | Detached | |||
| Month | Average | 12-month avg. | Average | 12-month avg. | |
| Sept 2021 | $336,945 | $334,176 ⬆︎ | $378,152 | $376,759 ⬆︎ | |
| Oct 2021 | $338,241 | $335,080 ⬆︎ | $387,660 | $379,032 ⬆︎ | |
| Nov 2021 | $317,237 | $335,202 ⬆︎ | $354,631 | $377,512 ⬇︎ | |
| Dec 2021 | $339,214 | $336,600 ⬆︎ | $383,808 | $378,933⬆︎ | |
| Jan 2022 | $313,546 | $335,389 ⬇︎ | $366,410 | $378,197 ⬇︎ | |
| Feb 2022 | $337,430 | $334,116 ⬇︎ | $384,932 | $377,388 ⬇︎ | |
| Mar 2022 | $335,975 | $334,728 ⬆︎ | $393,789 | $378,929 ⬆︎ | |
| Apr 2022 | $348,134 | $335,163 ⬆︎ | $404,061 | $381,081 ⬆︎ | |
| May 2022 | $343,666 | $334,903 ⬇︎ | $396,107 | $381,967 ⬆︎ | |
| June 2022 | $348,628 | $335,887 ⬆︎ | $413,574 | $385,105 ⬆︎ | |
| July 2022 | $343,101 | $336,165 ⬆︎ | $416,991 | $387,061 ⬆︎ | |
| Aug 2022 | $338,850 | $336,747 ⬆︎ | $394,765 | $389,573 ⬆︎ | |
| Sept 2022 | $342,398 | $344,129 ⬆︎ | $410,313 | $392,253⬆︎ |
For 4 of the last 6 months, we’ve seen the price average for detached homes peek over the 400k point. And for the 2 months that weren’t over 400k, the monthly average was just above 395k. The higher monthly averages lately have pushed the 12-month running average for detached homes over 390k for the first time since I’ve started tracking.
The 12-month running average for detached homes increased 0.7% in August compared to the 0.6% increase in July. The increase each month doesn’t look like much but if we compare September 2022 with September 2021, detached home prices have increased by 4.1%.
The 12-month average overall for homes sold in Red Deer increased 0.13% in Aug.
The overall 12-month running average in September 2022 is 1.5% higher than it was in September 2022.
Prices have been increasing because our Red Deer homes-for-sale inventory has remained very low for a long time. If M.O.I. (months-of-inventory) of homes listed for sale in Red Deer increases monthly it might cause prices to flatten or decrease a bit through the rest of 2022.
Check back each month if you’re interested in seeing where the Red Deer home price average is headed.
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
