Just a short average home sale price update for the Red Deer market in November.
Sale prices are doing well considering everything. However, they’re poised to do well with sales up and inventory lower than usual. Over the last 5 months, sales are 19.7% higher than they were through the same 5 months in 2019.
We had the two low price average months in April and May when COVID kicked in but otherwise, prices have done well. The sturdy prices are a surprise to almost everyone when we didn’t know what would happen as the economy took a beating.
If I was a home buyer right now I wouldn’t be too worried about prices increasing too much because part of the current price strength is due to our lower than normal inventory levels. I think a lot of home owners who might of normally moved chose to sit tight through the pandemic.
However, if a home-owner is willing to move during the pandemic they might benefit from the lower inventory.
If you have questions about our current market or if you’d like more specific information feel free to call, text or email Blake King with Big Earth Realty anytime at (403) 350-7672 and hello@BlakeKing.ca
Click HERE<< to view last months average price details – http://www.ionrealestate.ca/red-deer-real-estate-news/a-high-october-price-average/