We ended 2020 with the strongest sales increase in 2020 and January 2021 is even stronger. Home sales in December 2020 were 33% higher than December 2019 and January 2021 home sales were 39% higher than January 2020.
If you’ve looked in here at iOnRealEstate.ca over the last while you’ll know Red Deer home sales were up 7 months straight ending 2021 and I’m happy to say January is the 8th month straight now.
The reason higher sales is exciting is that sales numbers have gradually declined year after year in Central Alberta for quite some time. Alberta’s economy has been more sluggish with oil price decreases etc and we didn’t expect sales to increase during the pandemic.
The average sale price in Alberta is rebounding as well as sales have. Higher sales can contribute to higher prices but what’s really helped prices recently is lower inventory through the pandemic.
Check back tomorrow when I post the average price report and next week when I update the months-of-inventory report.