The “home listings vs. sales comparison” in Red Deer serves as a key indicator of the local real estate market’s dynamics. It allows individuals to stay informed about trends, whether there is a deficit or surplus, signaling changes in the market. Regularly visiting www.iOnRealEstate.ca provides access to updated Red Deer real estate news, statistics, and information.
SUMMARY
The first week of the year is always slow with listings and sale but we still saw a small deficit. It will be interesting to see if our inventory levels in the Red Deer and Central Alberta increase as we approach the spring market.
Know your market
The iOnRealEstate.ca website provides a weekly Red Deer Real Estate market report, focusing on the balance between homes leaving the market (sold and expired/canceled) and homes entering the market (listings). This information is crucial for individuals looking to buy or sell residential real estate in the local area. By comparing home sales to home listings, readers can gain insights into market dynamics and inventory levels. For a more comprehensive overview, the website also offers a monthly inventory report for Central Alberta.
Your market is local
Before engaging in a real estate transaction, it’s crucial to recognize that the real estate market is highly localized. General references or statistics from outside your specific local market may not be relevant. Many real estate decisions are influenced by non-local information, but it’s important to approach national statistics with caution, as they may not accurately reflect the conditions in your specific area.
Red Deer Home Sales & Listing Comparison report for the week of January 1st – Jan 7th, 2024.
Red Deer Home Sales & Listing Comparison
Number of detached homes sold: 6
Number of detached homes listed: 11
The average price of detached homes sold: $312,567
Number of other properties (condo, apart, duplex, town-home) sold: 6
Number of other properties (condo, apart, duplex, town-home) listed: 3
Number of condominiums sold: 4
Number of condominiums listed: 2
The average price of condominiums sold: $303,125
Properties sold price breakdown
| Number of residential units sold between | 0-200k | 1 |
| Number of residential units sold between | 201-300k | 4 |
| Number of residential units sold between | 301-400k | 7 |
| Number of residential units sold between | 401-500k | 0 |
| Number of residential units sold between | 501-750k | 0 |
| Number of residential units sold above | 751k + | 0 |
Total entered the market
Listings: 14
Total off the market
Expired & canceled: 4
Listings sold: 12
Margin
14 (entered market) – 16 (off-market) = -2
View the monthly inventory stats now at https://www.iOnRealEstate.ca
For more local real estate news, info, and statistics continually check in at 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 (403) 350-7672 or email anytime – hello@blakeking.ca
