Central Alberta Real Estate - Monthly Market Update

Red Deer Market Update – October 31, 2017

Posted by Jay McDouall on November 1st, 2017

October reflects the average number of sales that we experienced in Red Deer throughout the summer, particularly in July. The active listing count is now following the typical downward trend as we enter the colder months, as sellers plan to pull down their for sale signs & string their Christmas lights. The average number of days to sell has dropped slightly as those happy buyers secure their new nests for the winter.

It will be interesting to see how the market will respond to even further mortgage changes to take place. Stress tests, used for approving high-ratio mortgages will be applied to all new insured mortgages – including those where the buyer has more than 20 per cent for a down payment. The stress test is aimed at assuring the lender…

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Red Deer Market Update – September 30, 2017

Posted by Jay McDouall on October 3rd, 2017

The average selling price for single family homes in Red Deer is $341,098, an improvement on the average three months ago in June, which was $336,170. While the median asking price for Alberta is $375,000, which means that Red Deer’s pricing is considerably better than the rest of the province if you're looking to buy. If you’re looking at investment properties in Red Deer, then you’re likely to find mostly higher priced homes on sale. If you’re looking for a large choice of properties on sale when you’re adding to your real estate investment portfolio, then Red Deer has a wide array compared to the rest of the province.

It’s always hard to tell what property prices will do over the coming months, but over the last three months, new properties…

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Red Deer Market Update – August 31, 2017

Posted by Jay McDouall on August 31st, 2017

August sales in Red Deer hit the highest single monthly total so far this year, while the number of active listings fell slightly compared to last month, bringing the market close to balance. Sales across central Alberta were also better in August, bringing year to date sales in line with the same period last year.

A good month & the improvement indicates that we may be turning the corner. There haven’t been any highly visible events that point to the change, but strong GDP growth in both the Canadian and Alberta economies suggest there is potential for continued recovery.  Unfortunately, a strong Canadian economy may cause another bump in the Bank of Canada rate which will trigger another jump in mortgage rates. Tougher mortgage qualifying…

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