Home prices in Red Deer continue to increase

home prices in red Deer

Home prices in Red Deer continue to increase in Red Deer amid interest rate increases.

Both the 12-month running average overall and for detached properties increased again this past month. Overall the monthly average can look like a rollercoaster but the 12-month average gives an idea of what’s happening gradually with home prices.

The table below allows readers to see what prices are doing from month to month and what prices were like in the same month last year..

MonthAverage12-month avg.Average12-month avg.
July 2021$349,760$329,573 ⬆︎$393,524$373,547 ⬆︎
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$343,010$336,165 ⬆︎$416,991$387,061 ⬆︎

Over the last 4 months, the monthly price average for detached homes has been over $400,000. And prior to 2022 the detached home average in Red Deer has never been this high. It will be interesting to if the higher monthly average stays up long enough to push the 12 month average over the $400,000 mark.

The 12-month running average on detached homes increased 0.08% in July with the last 4 months averaging $407,683.

The 12-month average overall for homes sold in Red Deer increased 0.03% in July

The average overall home price in July was $343,101. The 12-month overall running price average was $336,156 up 0.3% from June and up 3.4% from July 2022.

The average detached home price in July was $416,991. The 12-month overall running price average was $387,061 up 0.8% from June and up 3.6% from July 2022.

Prices have been increasing because our homes-for-sale inventory has been very low for a long time. However, we are continuing to see the number of homes available for sale increase and that might cause prices to flatten through the second half of 2022.

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