2013 Housing Market, Holding Steady or Heating Up?

After reaching a peak in 2007/2008 Red Deer real estate endured a downturn in volume, decreased sale prices, and an abundance of listings to choose from.

Today the market has increased optimisim, increased sale prices, increased sales volume, and more limited selection or very limited selection depending on what price range you are shopping in.  A varied combination of balance, seller's market, and buyer's markets still exist.  The deciding factor is often product type and price.

The above MLS® real estate stats for sales in Red Deer, are broken down by price range.  You can see the "Blue" is stronger in higher ranges than the green.  That is a definite increase in price and buying pattern this year versus last year.

Sales, Number of
Month2010201120122013
Jan 85 91 85 99
Feb 115 103 135 142
Mar 120 150 155 169
Apr 156 126 200 175

Sales volume by month doesn't necessarily reveal how well the market is doing as April in 2012 was far stronger than April 2013.  It's a little to early to include May versus May but if we did...

Sales, Number of
Month2010201120122013
Jan 85 91 85 99
Feb 115 103 135 142
Mar 120 150 155 169
Apr 156 126 200 175
May 151 178 198 132

We are well on our way to meeting 2012 levels.  Hence the "Balance" I alluded to earlier.

Where's the heat in the Market?

Well to illustrate that, I think we need to look at the listing volume and the sales volume.  Starting with 2012 we saw the gap between the number of listing coming onto the market close.  Essentially eliminating a lot of competitiing listings.  Creating a stronger sellers market.

Then in 2013 the ratio bewteen new listings coming on versus sales looks more like:

Confused yet?

Bottom line, your home may be in a strong segment, price, or area of the market.  You should consult a professional to see if now is a good fit for your home.  Price is getting stronger and in some cases their is definite price growth.  Stay tuned as to how much on average.

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