Central Alberta Real Estate - Red Deer Real Estate Market Update

Red Deer Market Update – March 31, 2020

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…

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Red Deer Market Update – November 30, 2019

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…

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Red Deer Market Update – October 31, 2019

October sales are down slightly from the same time in 2018, posting just 6 fewer sales in 2019. However, the number of active listings is up 17.9%. 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. 

The market differs largely on which price point you're in. Well priced homes that show well are typically selling within 30 days under the $400,000 price point. Sales & overall buyer activity at the higher price points has been slow, especially over $600,000. Red Deer experienced just two sales in October, despite high levels of inventory. We're starting to see a disparity between what buyers want to pay, & what sellers…

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Red Deer Market Update – September 30, 2019

A late summer ends with an early winter; the luck of Albertan's these days! Red Deer’s sales activity totaled 118 units in September 2019, a 11.3 per cent increase from September 2018. A similar, but much greater trend in the upward direction was observed in 2016, just prior to the winter months setting in. Total sales in the city year-to-date have reached 1031, with 1091 sales by the same time in 2018. The average selling price comes in at just $311,525 a 8.1 per cent decline over the last four years on average. 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…

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Red Deer Market Update – August 31, 2019

With a slight warming to the weather & the economic climate, Red Deer’s sales activity totaled 115 units in August 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,…

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Red Deer Market Update – July 31, 2019

With a slight warming to the weather & the economic climate, Red Deer’s sales activity totaled 147 units in July 2019, a 6.5 per cent increase from July 2018. Total sales in the city year-to-date have reached 795, with 853 sales at this same time in 2018. The average selling price comes in at just $303,709 a 13.9 per cent decline over the last four years. Many buyers are looking at Ottawa's First Time Home Buyer Incentive that launches on September 2, 2019. The real question will be whether or not people will make informed decisions & how many people will actually qualify. Very few millennial buyers will be able to take advantage of the FTHBI, given all the restrictions. The ones who could use the incentive can easily qualify for a regular mortgage…

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Red Deer Market Update – June 30, 2019

Can you say, "flat market?" With minimal change in the economic climate, Red Deer’s sales activity totaled 124 units in June 2019, a 15 per cent decline from the June 2018, well below long-term averages, & with a 37.7 per cent decrease over the last four years. There was a pullback in sales across all product types, leaving supply levels high, resulting in persistent oversupply & continued price reductions. The average selling price comes in at just $311,344 an 11.6 per cent decline over the last four years. With July upon us, prepare for a quiet couple of months, as the kids are free, families are travelling & enjoying the very sporadic amount of sun we're seeing this summer.

If possible, potential buyers may want to take advantage of the market…

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Red Deer Market Update – October 31, 2018

With no change in the economic climate, Red Deer’s sales activity totaled 107 units in October, a 16 per cent decline over the previous year & well below long-term averages. There was a pullback in sales across all product types, leaving supply levels high, resulting in persistent oversupply & price reductions. The average selling price comes in at just $307,587 an 10 per cent decline over the previous year.

If possible, potential buyers may want to take advantage of the market conditions. However, some face difficulties with mortgage restrictions or failed attempts at selling their existing home. Accurate & strategic pricing is key to over coming an extended listing. A seller should not be discouraged, & rather be encouraged by the advantage…

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Red Deer Market Update – September 30, 2018

With no change in the economic climate, Red Deer’s sales activity totaled 106 units in September, a 16 per cent decline over the previous year & well below long-term averages. There was a pullback in sales across all product types, leaving supply levels high, resulting in persistent oversupply & price reductions. The average selling price comes in at just $309,304 an 10 per cent decline over the previous year.

Potential buyers may want to take advantage of the market conditions. However, some face difficulties selling their existing home based on their expectations, preventing them from purchasing something else & moving on. It looks as if the buyer's advantage will continue for the remainder of this season. Let's just have a Happy…

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Red Deer Market Update – August 31, 2018

The recent court decision against the Transmountain Pipeline has re-raised frustration levels & likely a whole lot of anger from many Albertans. It's a significant blow not only to the province, it's a direct punch in the face to the entire country.

As for Red Deer real estate, the average selling price has increased nicely for the end of summer. However, the number of listings seems to also be on the rise, likely those trying to sell during the final rush after the summer months. Real estate activity seems to be rising as children return to school & the weather has began to cool. Families looking for larger homes may now have the time to get out there, find their new homes & write some offers. Sellers who have been patiently waiting all…

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