A new year in the Red Deer market • week 1

Red Deer weekly real estate market report

It was an interesting year for the Red Deer real estate market last year. Let’s see what 2023 brings. Check in at iOnRealEstate.ca each week to see how the previous week performed

Red Deer Home listings vs sales comparison allow you to stay on top of the Red Deer real estate market. 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.

From a market defecit of 30 properties last week to a surplus of 18 this week, we will see the market change a lot through the first quarter of 2023. We’ve experienced a seller’s market quite awhile now but we’ll likely see inventory numbers increase into a buyer’s market shortly.

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

Red Deer Home Sales & Listing Comparison report for the week of Jan 2nd – Jan 8th, 2023

Red Deer Home Sales & Listing Comparison

Number of detached homes sold: 6
Number of detached homes listed: 17
The average price of detached homes sold: $348,404

Number of other properties (condo, apart, duplex, town-home) sold: 6
Number of other properties (condo, apart, duplex, town-home) listed: 11
Number of condominiums sold: 4
Number of condominiums listed: 9
The average price of condominiums sold: $242,875

Properties sold price breakdown

Number of residential units sold between0-200k3
Number of residential units sold between201-300k3
Number of residential units sold between301-400k4
Number of residential units sold between401-500k2
Number of residential units sold between501-750k0
Number of residential units sold above751k +0
save money buying your home
Get cash at closing when you buy your next home.

Total entered the market 
Listings: 40

Total off the market
Expired & canceled: 10
Listings sold: 12

(entered market) – 22 (off-market) = 18

View the monthly inventory stats now at http://www.iOnRealEstate.ca.

For more local real estate news, info and statistics continually check in at www.iOnRealEstate.ca.

blake king realtor broker

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 hello@blakeking.ca