Red Deer home sales numbers – monthly

Red Deer home sales

Home sales are up in Red Deer again this month.

Home sales are still a little higher this year compared to 2023 and inventory remains notably low. This suggests that the pent-up demand from buyers in 2023 continued through 2024. While more sellers are putting their homes on the market, the heightened buyer activity prevents inventory from rising significantly. And this causes prices to continue upward, (Red Deer home prices).

Detached home sales

The chart below shows Red Deer detached home sales in 2024 and the 5 years prior. This allows readers to compare home sales each year and each month.

Detached homes201920202021202220232024diff
Jan505171815152⬆︎ 2%
Feb69591011135966⬆︎ 12%
Mar72791261328888even
Apr9637169166126130⬆︎ 3%
May9359148164118144⬆︎22%
Jun9097141121129118⬇︎ 7.8%
July99113108118117115⬆︎ 1.7%
Aug7698117104113117⬆︎ 3.5%
Sept79931198310583⬇︎ 21%
Oct 7188989684⬇︎ 13%
Nov6676867572⬇︎ 4%
Dec4965884463⬆︎ 43%
For the year910915137212981125⬆︎ 0.9

Alberta is experiencing high immigration and inter-provincial migration causing a housing shortage, and it’s expected to continue. And, with a shortage of housing, we are seeing higher rents, fewer homes for sale and higher home prices in Red Deer.

Red Deer home sales

Detached home sales took a tumble down 21% in Sept 2024 compared to Sept 2023, and now they are only up 0.9% from last year.

Home sales began stronger in 2024 than in 2023 but declined in three of the last four months. Inventory levels were expected to rise early in 2024 but have stayed lower than in the same period of 2023.

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Attached home sales

The chart below displays the attached home sales in Red Deer for this year and five years ago. The column on the right indicates whether sales have increased or decreased, along with the percentage change compared to the same month from the previous year.

Attached homes201920202021202220232024diff
Jan251829434138⬇︎ 7.3%
Feb182033593545⬆︎ 29%
Mar282260715970⬆︎ 19%
Apr4224 55735575⬆︎ 36%
May2816 477910082⬇︎ 18%
Jun352465767576⬆︎ 1.3%
July504845707762⬇︎ 19%
Aug413541507679⬆︎ 3.9
Sept394742446055⬇︎ 8%
Oct 3028353644⬆︎ 22%
Nov2542374149⬆︎ 20%
Dec2223412034⬆︎ 50%
For the year383307530662706⬆︎ 6.6⬆︎ 0.7%

Higher interest rates and prices didn’t seem to slow attached home sales in 2023. In fact, higher rates may have boosted attached home sales, as detached homes became less affordable.

Like detached homes, attached home sales started strong but fluctuated in recent months. The main issue is low inventory, and that shortage isn’t likely to improve anytime soon.

Check back each month to see if sales in 2024 outpace 2023.

Home sales overall in Red Deer

Home sales overall are up only 0.7% in Red Deer at the end of Sept 2024 and that margin is shrinking each month.

Summary

Detached home sales in Red Deer started strong in 2024 but have fluctuated, with a significant 21% drop in September compared to the same month in 2023. Overall, sales are now up just 0.9% year-over-year. Alberta’s housing shortage, driven by high immigration and inter-provincial migration, continues to push up rents, limit inventory, and raise home prices. Attached home sales in Red Deer have increased by 0.7% overall by the end of September 2024, with fluctuations throughout the year. Although sales started strong, the market has been impacted by low inventory.

Homes for sale in Red Deer

Blake King Realtor

Hosted by Blake King Realtor® and Big Earth Realty. Blake King continually monitors the Red Deer and Central Alberta real estate market to track changes and watch trends. With this information, he’s able to help you make the most informed decisions when buying or selling your home. If you want to learn more about the local market and how it impacts your next real estate transaction, call or email Blake anytime at (403) 350-7672