The supply and demand of real estate in Red Deer is not immune from the impacts of the Oil driven Alberta Economy.
It's not all doom and gloom though. People are still buying house, the rental vacancy rate is still low, and real estate continues to be a long term investment tool with a lot of leverage. In fact the 2015 real estate market displays trends similar to the 2011 market.
IN Red Deer The MLS® sales and listings for this year (2015) and 2011 looks like:
|New Listings 2011||New Listings 2015||Sales 2011||Sales 2015|
While we are not enjoying the robust pace of 2014 which started the year as:
|New Listings 2014||Sales 2014|
It's important to keep in check what are today's market conditions and how does this impact your decisions. This is certainly not a marker dynamic that is a "Seller's Market" , where the seller can command a premium price and terms all in their favor. Today a seller should be more grounded in their expectations.
Conversely a buyer may be inclined to negotiate hard on price, but the reality of our larket is we haven't experienced and "fire sale" pricing. There is pressure on price, and a buyer may get more house for their dollar than a year ago, but any decrease is not greater than 3% in today's market.