Red Deer Market Update – August 31, 2019

Posted by Jay McDouall on Sunday, September 1st, 2019 at 12:00pm.

With a slight warming to the weather & the economic climate, Red Deer’s sales activity totaled 115 units in July 2019, a 14.8 per cent decrease from August 2018. Total sales in the city year-to-date have reached 910, with 985 sales at this same time in 2018. The average selling price comes in at just $307,287 a 17.1 per cent decline over the last four years, that figure up slightly from last month. Many buyers are looking at Ottawa's First Time Home Buyer Incentive that launches this week. If you're able to make a purchase in today's market, you're buying instant equity for when the market turns back around. If you've found a property you'd like to get a closer look at Schedule a Viewing today or Contact Us for more information!

If possible, potential buyers may want to take advantage of the market conditions & reduced lending rates. Some may still face difficulties with mortgage restrictions or failed attempts at selling their existing home. Accurate & strategic pricing is key to over coming an extended listing. Seller's should not be discouraged, & rather be encouraged by the advantage of also purchasing within such a market. Unless of course, you're downsizing. You may want to hang on to your investment until trends become more favorable to sell, typically spring time! It looks as if the buyer's advantage will continue for the remainder of this season. Whether you're buying or selling, or you're simply looking for more information, Contact Us & we'll get you some answers.

Information Based on Red Deer Real Estate Board MLS® Stats 2015-2019

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