A snapshot of our local Red Deer real estate market. Inventory is very low in Red Deer right now.

Each month I prepare a snapshot of the Red Deer real estate market and post it on my website. This month, with January’s market snapshot, my website is undergoing some fine-tuning so I’m posting the infographic snapshot here at www.iOnRealEstate.ca.

In January’s market snapshot you’ll see the days-on-market (D.O.M.) number staying about the same as last month. Days-on-market is an interesting stat but really doesn’t give us an accurate indication of whether homes are selling better or not. Properties price correctly right now will sell in 14 days. The properties priced too high, and a high percentage of properties are always, make this number higher than it should be.

Another interesting stat this month is average-price. This month the home price average was considerably lower than December’s, but likely doesn’t accurately represent what prices are doing. There’s a good chance we’ll see the price average back in the $330,000 range at the end of Feb.

You’ll see our inventory rate is very low. At 1.8 months of inventory (M.O.I.), it’s actually lower than I’ve ever seen it. Inventory this low makes it a great time to sell for homeowners and will definitely put upward pressure on prices.

You’ll also notice home sales higher again in January’s market snapshot.

Next month I’ll post the Red Deer’s market snapshot at my newly reconfigured website www.KingBlake.com.