Again this month I’ve simplified the price average report for Red Deer. But, like last month I’m also going to add additional data. Up until now I’ve posted the overall monthly average, the overall 4-month running average (R.A), and the overall 12-month running average.
Also last month I started posting the overall price average and the detached home average. And in addition to that I now chart the twelve month average so we can see which way our market is trending.
I’ve mentioned how the month-to-month average is difficult to use as a market gauge because it is easily skewed by a few extra high or low sales in one month. Looking at the 12-month running average gives the best view of how the market is gradually changing.
The table below will give readers a look at how the average price changes each month and allow everyone to compare the most recent month’s average with its corresponding month a year earlier.
| Overall | ooo | Detached | |||
| Month | Average | 12-month avg. | Average | 12-month avg. | |
| June 2021 | $326,821 | $326,825 ⬆︎ | $375,915 | $370,723 ⬆︎ | |
| 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 ⬆︎ |
We witnessed prices increase again in June. For the most part, the price average has increase over the last 12 months and you can see how it looks in the line charts below.
The average overall home price in June was $348,628. June’s 12-month running price average overall was $335,887, up 0.2% from May’s average and up 2.7% from June 2021.
The average detached home price in June was $413,574. June’s 12-month running price average for detached home was $384,105, up 0.8% from May’s average and up 3.9% from June 2021.
Prices have been increasing because our homes-for-sale inventory has been very low for a long time. We are continuing to see the number of homes available for sale increase and that might cause prices to flatten.
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
