Keep on top of the Central Ab and Red Deer market news by checking in at www.iOnRealEstate.ca – Red Deer real estate news, stats, and information hub.
It’s an interesting time of year as we exit the summer months and enter the fall. August is a slow month because most people are more focused on the nice whether and holidays and generally things heat up again in September to then slow gradually through the end of the year.
We’ve seen sales slow through the summer but we’ve also been lucky enough to not have experiences high inventory this year. The combination of active sales and lower inventory has allowed prices to incease gradually too this year.
This week we see a deficit with inventory and we’ve also noticed sales slow.
Know your market
If you’re planning to buy or sell residential real estate now or in the future, it’s important to know as much about your local market as possible. That’s why each week at iOnRealEstate.ca we post the Red Deer Real Estate market report comparing sales to listings. It’s important to compare home sales to home listings to help understand the market and inventory levels.
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, 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 sales & listing comparison report for the week, Aug 30th – Sept 5th, 2021 report
Sales, listings and average price data
Number of single-family detached homes sold: 15
Number of single-family detached homes listed: 30
The average price of single-family detached homes sold: $347,583
Number of other properties (condo, apart, duplex, town-home) sold: 7
Number of other properties (condo, apart, duplex, town-home) listed: 17
Number of condominiums sold: 3
Number of condominiums listed: 7
The average price of condominiums sold: $247,167
Properties sold price breakdown
|Number of residential units sold between||0-200k||2|
|Number of residential units sold between||201-300k||10|
|Number of residential units sold between||301-400k||6|
|Number of residential units sold between||401-500k||2|
|Number of residential units sold between||501-750k||1|
|Number of residential units sold above||751k||1|
Total entered the market
Total off the market
Expired & canceled: 32
Listings sold: 22
47 (entered market) – 54 (off-market) = -7
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 about buying or selling their home. If you want to learn more about how local market stats affect your buying selling decision call or email Blake anytime (403) 350-7672 or firstname.lastname@example.org