End of September heralds in the fall market, and the closing of the third quarter for MLS® statistics.  Here in Red Deer residential sales have been positive for year over year growth and the supply side, namely listings, has decreased year over year.  When we started 2011 our expectations were for modest growth and a trend to a balanced market.  With the economic conditions in Alberta looking increasingly favourable we were anticipating a robust end to 2011.

So where are we at for 2011?

The average price seems to fluctuate month to month, but that is a function of where the sales have been occurring.  The table below indicates that sales are certainly more plentiful between $200,000 and $350,000.  The fluctuation price is largely in part due to the presence or lack of sales in higher end price ranges as that mid or median group seems pretty consistent.

Graphically it looks like this:

How does this compare to last year?

 We are fairing quite well compared to the two previous years.  We are certainly on track to record a better year than 2011 and we may be close to returning to 2009 sales volume levels.  It will be interesting to see how the final three months turn out. 

It is important to note that real estate is hyper local.  The surrounding bedroom communities and areas have a slightly different result for the year than the City of Red Deer and as we've noted above, different price ranges are experiencing higher rates of sales than others.

Patrick Galesloot

Patrick on Twitter: @pgalesloot

**Note all stats are MLS® residential stats for the city of Red Deer***