Red Deer real estate Inventory Report – 2024

Red Deer Real Estate Inventory

Understanding Real Estate inventory levels or Months of Inventory (M.O.I.) is crucial, as it has the potential to significantly influence your decisions when buying or selling property. It’s paramount to understand the reasons behind its importance in the real estate landscape.

SUMMARY!
In the real estate landscape this month, every community observed remains a seller’s market except for Penhold/Springbrook, which happens to be one of the smaller markets under scrutiny. While there were initial indications of a potential increase in inventory levels based on February’s statistics, the data for March tells a contrasting tale.


YOUR HOME SOLD GUARANTEED
Red Deer and Central Alberta Home Sales

To foster “normal growth” in a real estate market, it’s essential to maintain months of inventory (M.O.I.) rates below the 5-month range. Please scroll down for this month’s inventory rates across Central Alberta.

When engaging in property transactions, it’s crucial to factor in local inventory statistics. This stands as paramount real estate information, particularly if you’re contemplating selling your home. In situations where months of inventory are high, prices tend to remain stable or decrease. Conversely, in low-inventory scenarios, homes are likely to sell swiftly, leading to an increase in prices.

(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
———————————————–
(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.)

Here are the overall for-sale inventory levels in Red Deer and towns across Central Alberta. The “average number of homes selling each month” is calculated based on the last 60 days of sales.


Red Deer, AB (inventory of detached homes)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1Mar 5
properties currently for sale158148113122116
avg # of homes selling ea. month9379.567.552.564
M.O.I. in Red Deer1.71.91.72.31.8

Red Deer, Ab (for sale inventory overall)

Date 2023/24Nov 1Dec 1Jan 2Feb 1Mar 5*
properties currently for sale235223169184184
avg # of homes selling ea. month146126.5108.589106
M.O.I. in Red Deer1.61.81.62.11.7

(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. Red Deer data will include the overall inventory and the detached home inventory.
Red Deer home sales rebound from the lower numbers over Dec / Jan.


Sylvan Lake, AB (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale4440307679
avg # of homes selling ea. month2216.51122.537
M.O.I. in Red Deer22.42.73.42.1

(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.
Higher sales keep listing numbers low and a low M.O.I. (months of inventory)


Penhold/Springbrook, Ab (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale7951318
avg # of homes selling ea. month4.5565.53.5
M.O.I. in Red Deer1.61.80.82.45

(Buyers market) level A  (4.3 – 5.9 months of inventory)
*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 number of listings jumps while sales slow.


Blackfalds, AB (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale2321193224
avg # of homes selling ea. month14.59.59.511.514.5
M.O.I. in Red Deer1.62.222.81.7

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.
It looked as though inventory levels were going to increase but March numbers contradict that.


Lacombe, AB (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale2119163330
avg # of homes selling ea. month106.57.510.514.5
M.O.I. in Red Deer2.12.92.13.12.1

(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 decreases agaun like the other communities in Central, AB


Innisfail, AB (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale109162822
avg # of homes selling ea. month9.57338
M.O.I. in Red Deer1.11.35.39.32.8

(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.
The smaller markets are more susceptible to inventory swings and we have witnessed it the last two months.


Rocky Mountain House (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale2222152430
avg # of homes selling ea. month910.54.53.54.5
M.O.I. in Red Deer2.42.13.36.96.7

(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.
Homes for sale listings are up and sales were a little slower in March in Rocky Mountain House


Ponoka, AB (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale3224132022
avg # of homes selling ea. month139.567.58.5
M.O.I. in Red Deer2.52.52.22.72.6

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.
Inventory levels stay pretty much the same in Ponoka but keep in mind, these inventory numbers are low!


Stettler, AB (for sale inventory overall)

Date 2023/2024Nov 1Dec 1Jan 2Feb 1*Mar 5*
properties currently for sale2225213024
avg # of homes selling ea. month6.56458
M.O.I. in Red Deer3.44.25.36.43

(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 levels stay pretty much the same in Ponoka but keep in mind, these inventory numbers are low!


Homes can sell in any market but the crucial factor is pricing. If you list your property even slightly too high, it risks lingering on the market indefinitely, especially if home prices aren’t increasing. Allowing your home to remain ‘for sale’ for months can have a detrimental impact on its current and future value.


Homes for sale not listed

Blake King Realtor/Broker

Blake King manages iOnRealEstate.ca, catering to Central Albertans eager to stay informed about the local real estate market. Access to more information enhances decision-making, and when dealing with an asset as significant as your home, it becomes crucial to strive for the best possible decisions!

Blake King
Big Earth Realty
(403) 350-7672