Market Report: March 2020

Has COVID-19 Impacted the Housing Market in Alberta?

Calgary, AB – March sales activity started the month strong, but the spread of COVID-19 and the dramatic drop in energy prices has caused an abrupt downturn in the demand for housing by the middle of the month, causing provincial sales to decline by nine per cent.

“This is an unprecedented time with a significant amount of uncertainty. It is not a surprise to see these concerns also weigh on the housing market. The impact on the housing market will likely persist over the next several quarters,” says Ann-Marie Lurie, AREA Chief Economist. “However, measures put in place by the government and lending institutions, to help support homeowners through this time of job and

Amid the COVID-19 crisis, March home sales in Sylvan Lake are down compared with the past three years, the number of YTD sales in Sylvan Lake overall is most comparable to that of 2016. Though more regulations are implemented on the self-isolation process, we still expect sales to trend slightly higher for April 2020's sale count. The number of new listings in Sylvan Lake is at the lowest over the past 5 years. This isn't the worst news if you're trying to sell, as lower inventory levels mean less competition, likely due to a number of sellers still contemplating whether they want to re-enter the market or stay put.

Sales & overall buyer activity at the higher price points has been slow, especially over $600,000. Sylvan Lake experienced just 1 sale

Amid the COVID-19 crisis, March home sales in Red Deer are on par with the past three years, the number of YTD sales in Red Deer overall is most comparable to that of 2017. Though more regulations are implemented on the self-isolation process, we still expect sales to trend higher for April 2020's sale count.

Sales & overall buyer activity at the higher price points has been slow, especially over $600,000. Red Deer experienced just 10 sales over the $600K price point YTD. We're starting to see a number of buyers scooping up the houses they've been watching throughout the fall. The busiest price range is trending between $275,000 to $315,000 in Red Deer with an overall average of 68 days to sell.

If you've found a property you'd like to get a

Lakefront Bungalow on 0.76 acres, 38X28 Triple Car Garage - $1,300,000

23 Westside Close on Sylvan Lake AB T4S 1S2

A breathtaking bungalow situated on 0.76 acres of lakefront, just 20 minutes west of Red Deer on Sylvan Lake. The land rolls slightly east to provide an exceptional walkout basement. Enjoy fires & endless fun in your beautifully landscaped yard. Need garage space? No problem; triple 38X28’ fully finished attached garage with epoxy flooring & rear bay access to the yard, for the mower & toys.

Head inside to explore what this family home has to offer; 5 bedrooms (3 up), 3 full bathrooms, main floor laundry & an open concept floor plan for entertaining. The large kitchen boasts granite countertops, stainless appliances, corner

Two Bedroom, Two Bathroom Condo in Bentley - 22X13 Garage - $149,900

Looking for a quiet place to settle in? Check out this great opportunity in Bentley, which is just west of Gull Lake & 15min north of Sylvan! You could own a 2-bedroom, 2-bathroom home with a 13’ X 22’ detached garage in an adult friendly condo (18+).

This is a beautiful corner townhome that faces west, with shovelled walks in the winter & easy access to parking. Enjoy an open kitchen with plenty of room for cooking & a ton of cabinet space for storage. With laundry on the main floor & an oversized master bedroom with two closets; this house is ideal for someone looking to downsize. Well maintained, clean & very tidy throughout. Heated by both a furnace & in-floor

Investment Property in Red Deer - 32X24 Garage - $269,900

Looking for a starter home or an investment to add to your portfolio? Check out this great opportunity in Bower! You could own a 3-bedroom bungalow with an unfinished basement & a MASSIVE double detached garage, which has overhead radiant heat, 220V power & engineered ceiling hoist points. You’ll be impressed with just over 1060sqft of living space on the main floor, a fully fenced yard with a large storage shed & a 32' X 24' garage big enough to park two large vehicles (9’ doors).

The garage is fully finished with 16” on center framing & fireproof gypsum (for welding). With 3 bedrooms on the main floor, this house is ideal for families with young children. Fresh paint & new light

Behold, 4882sqft of pure luxury. West facing backyard, with plenty of room for a second oversized garage & RV parking. Stay warm & save money with efficiency - triple pane windows, 12” ICF block foundation, in-floor heating on all levels, plus the garage & an additional 2” of styrofoam insulation under the stucco! Maintenance free vinyl fence & metal shingles. High-end stainless-steel appliances, with ample counter space & cupboards. Main floor office provides a great view of the natural area behind this home. Upstairs you will find a king-sized master suite with a massive walk in closet & a spa-like 7-piece ensuite with an oversized glass shower. Two more bedrooms on the top floor, each with its own 4-piece ensuite, ideal for guests & teenage

4 Bedroom Home in Sylvan Lake - 26X24 Garage - $299,900

Looking for a starter home or an investment to add to your portfolio? Check out this great opportunity in Lakeview Heights in Sylvan Lake! You could own a 4 bedroom home with a massive double detached garage.

You’ll be impressed with just over 2200sqft of finished living space, a fully fenced yard with RV parking & a 26' X 24' garage big enough to park two vehicles. With 3 bedrooms on the main floor, this house is ideal for families with young children. Fresh paint & new light fixtures throughout. Most of the upper level has been upgraded with new flooring in the bedrooms & both bathrooms have also been extensively upgraded. New blinds in the dining, living & master bedroom.

5 Bedroom Family Home in Sylvan Lake - $284,900

Looking for a larger home for your family or an investment to add to your portfolio? Check out this great opportunity in Sylvan Lake! Pride of ownership is evident throughout this bright home. You could own a 5 bedroom, 3 bathroom home on a large pie lot, backing onto greenspace for under $285,000.

You’ll be impressed with just over 2100sqft of finished living space, a fully fenced yard with alley access, don’t miss the gravel RV parking & enough room to park two vehicles along the west side of this lot! With 3 bedrooms on the main floor, this house is ideal for families with young children. Master comes with 4 piece ensuite & walk-in closet.

Enjoy brand new, black

November sales are up slightly from the same time in 2018, posting 13 more sales than November 2018. However, the number of YTD sales in Red Deer overall is lagging by 53 compared with last years YTD at this time. This isn't the best news if you're trying to sell, as more inventory means more competition, likely due to a number of re-listings & homes returning to the market that failed to sell.

Sales & overall buyer activity at the higher price points has been slow, especially over $600,000. Red Deer experienced just two sales in November, both being maturer homes (built in the 70's) & not of new build. We're starting to see a number of buyers scooping up the houses they've been watching throughout the fall. The busiest price range is trending