Home price average in Red Deer up again

home prices in red Deer
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The 12-month running price average in Red Deer is up again in 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 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.

MonthAverage12-month avg.Average12-month avg.
Aug 2021$331,872$331,007 ⬆︎$364,618$374,030 ⬇︎
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 ⬆︎

3 of the last 5 months we’ve seen the price average for detached homes peek over the 400k point. And for 3 of the last 6 months (the 3 months that weren’t over 400k) the monthly average was above 390k. With the higher than normal monthly averages we are seeing the 12-month running average has stayed well above the 380k mark 5 months straight.

Red Deer home prices
12-month running averages

The 12-month running average for detached homes increased 0.06% in August compared to the 0.08% increase in July. The increase each month doesn’t look like much but if we compare August 2022 with August 2021, prices have increased about 4.2%.

The 12-month average overall for homes sold in Red Deer increased 0.02% in Aug.

The average home price overall in Aug was 1.2% lower that July but the 12-month running price average overall was is up 0.17%.

Prices have been increasing because our Red Deer homes-for-sale inventory has been very low for a long time. We are continuing to see the months-of-inventory of homes for sale increase monthly and that 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.

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