Real Estate Homes For Sale Inventory Report, Red Deer and Central Alberta 2024

Red Deer Real Estate Inventory

Real Estate inventory or (M.O.I.) rate could be the most important real estate data to impact your real estate buying and selling decisions… and it’s important to understand why.

SUMMARY!
This month I made a change to the data used to determine the inventory levels so M.O.I. might appear off a little. Instead of posting only detached home inventory levels, inventory levels are based on all residential properties for sale. Inventory levels are up in every community in Central Alberta but that’s expected this time of year. And this month 3 communities have inventory in the “buyer market” range however, the inventory levels in the smaller communities can jump around more month to month.


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To encourage normal growth we need months of inventory or M.O.I. rates below the 5-month range. Scroll down for this month’s inventory rates through Central Alberta.

When buying or selling property take into consideration the local inventory stats. It’s the most important real estate news especially if you’re planning to sell your home. When months of inventory levels are high prices stay flat or decrease. When inventory levels are low homes will sell faster and prices will increase.

(Seller’s market) with an inventory rate below 3.9 months-of-inventory
———————————————–
(Balanced market) with inventory between 3.9-4.2 months-of-inventory
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(Buyers market) level A  (4.3 – 5.9 months of inventory)
(Buyer market) level B  (6 – 7.2 m.o.i.)
(Buyers market) extreme  (7.3+ m.o.i.)

Below are “single-family detached” for sale inventory levels in Red Deer and towns throughout Central Alberta. The “average # of homes selling ea. month” is calculated using the last 60-day sales.


Red Deer, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1
properties currently for sale158148113122
avg # of homes selling ea. month9379.567.552.5
M.O.I. in Red Deer1.71.91.72.3

Red Deer, Ab (for sale inventory overall)

Date 2023/24Nov 1Dec 1Jan 2Feb 1
properties currently for sale235223169184
avg # of homes selling ea. month146126.5108.589
M.O.I. in Red Deer1.61.81.62.1

(SELLER’S MARKET) with an inventory rate below 3.9 months!
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community. Red Deer data will include the overall inventory and the detached home inventory.
Slower sales and a higher number of listings have increased inventory in Red Deer to over 2 months.


Sylvan Lake, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale44403076
avg # of homes selling ea. month2216.51122.5
M.O.I. in Red Deer22.42.73.4

(SELLER’S MARKET) with an inventory rate below 3.9 months!
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
This is the highest inventory level in Sylvan Lake, AB, since February 2020!


Penhold/Springbrook, Ab (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale79513
avg # of homes selling ea. month4.5565.5
M.O.I. in Red Deer1.61.80.82.4

SELLER’S MARKET) with an inventory rate below 3.9 months!
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
Very low inventory in the Penhold area with steady sales through Dec but fewer listings.


Blackfalds, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale23211932
avg # of homes selling ea. month14.59.59.511.5
M.O.I. in Red Deer1.62.222.8

SELLER’S MARKET) with an inventory rate below 3.9 months!
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
January often sees an influx of new listings and that causes higher inventory. It will take a couple of months to determine if M.O.I. will continue to increase.


Lacombe, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale21191633
avg # of homes selling ea. month106.57.510.5
M.O.I. in Red Deer2.12.92.13.1

(SELLER’S MARKET) with an inventory rate below 3.9 months!
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
Lacombe, Ab inventory increasing like the other communities in Central, AB


Innisfail, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale1091628
avg # of homes selling ea. month9.5733
M.O.I. in Red Deer1.11.35.39.3

(Buyers market) extreme  (7.3+ m.o.i.)
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
The smaller markets are more susceptible to inventory swings, especially at the start of the year.


Rocky Mountain House (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale22221524
avg # of homes selling ea. month910.54.53.5
M.O.I. in Red Deer2.42.13.36.9

(Buyer market) level B  (6 – 7.2 m.o.i.)
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
Listings jump in January and a slower sales average jumps inventory up.


Ponoka, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale32241320
avg # of homes selling ea. month139.567.5
M.O.I. in Red Deer2.52.52.22.7

SELLER’S MARKET) with an inventory rate below 3.9 months!
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
Listings jumped in January but sales increased a little too.


Stettler, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*
properties currently for sale22252130
avg # of homes selling ea. month6.5645
M.O.I. in Red Deer3.44.25.36.4

(Buyer market) level B  (6 – 7.2 m.o.i.)
*Before February 2024 inventory data was from detached home sales only, now each month inventory will be posted based on homes for sale inventory overall in each community.
Inventory jumps in small markets when sales are slower through the last months of the year.


Even with high inventory, homes still sell, but the price is key **list slightly too high and your property will sit indefinitely if home prices aren’t increasing. Allowing your home to sit ‘for sale’ for months will affect its value now and down the road.

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I host iOnRealEstate.ca for Central Albertans wanting to keep in-the-know regarding the local real estate market. More information contributes to better decisions and with an asset as great as your home it’s important to do your best!

Blake King
Big Earth Realty
(403) 350-7672
Red Deer home sales