The Red Deer Home Sales & Listing Comparison keeps you on top of the Red Deer real estate market and how sales compare to the number of homes listed each week. If there’s a deficit or a surplus trend the market is changing. Check-in at www.iOnRealEstate.ca each week for updated Red Deer real estate news, stats, and information.
A very large and unexpected deficit in homes for sale in Red Deer this week. Generally in the months before December we see sales slow and listing accumulate. However, there are a lot of buyers buying still and fewer home owners listing their homes for sale. Buyer are wanting to buy before rates increase and more sellers appear to be waiting out the higher rates. Because, if you sell your house right now, you will buy at a higher rate.
Know your market
If you’re planning to buy or sell residential real estate now or in the future, it’s important to understand as much about your local market as possible. That’s why each week at iOnRealEstate.ca we post this Red Deer Real Estate market report comparing the number of homes leaving the market (sold and expired/canceled) to homes entering the market (listings). It’s important to compare home sales to home listings to help understand the market and inventory levels. See the monthly inventory report for Central Alberta at iOnRealEstate.ca.
Your market is local
Before planning a real estate transaction in Red Deer it’s important to understand that your real estate market is local. Keep in mind, that when someone references the “Canadian real estate market” or even the “Alberta real estate market” it doesn’t necessarily apply to your local market. Too many real estate decisions are based on national real estate information but national stats need to be taken lightly because it has almost no relevance to your local market.
Red Deer Home Sales & Listing Comparison report for the week of Oct 24th – Oct 30th, 2022
Red Deer Home Sales & Listing Comparison
Number of single-family detached homes sold: 30
Number of single-family detached homes listed: 13
The average price of single-family detached homes sold: $370,896
Number of other properties (condo, apart, duplex, town-home) sold: 8
Number of other properties (condo, apart, duplex, town-home) listed: 8
Number of condominiums sold: 3
Number of condominiums listed: 7
The average price of condominiums sold: $208,133
Properties sold price breakdown
|Number of residential units sold between||0-200k||6|
|Number of residential units sold between||201-300k||14|
|Number of residential units sold between||301-400k||7|
|Number of residential units sold between||401-500k||6|
|Number of residential units sold between||501-750k||5|
|Number of residential units sold above||751k||0|
Total entered the market
Total off the market
Expired & canceled: 13
Listings sold: 38
21 (entered market) – 51 (off-market) = -30
View the monthly inventory stats now at http://www.iOnRealEstate.ca.
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 at (403) 350-7672 or email@example.com