August market in Red Deer

Back to school may be the most wonderful time of the year for those of us with kids.  The question is will it be the same for the real estate market?

August turned out to be a mixed bag yet again.  The single family home sales were strong if you were priced right and not in a higher price point.  Town houses and duplexes are settling out into a good groove.  Apartment condos on the other hand not so much.

Apartment condo market is plagued with excess supply and that supply will be around for a while by the looks of things.  There are a lot of new projects presently under construction and for sale, as well as the previously owned market that has been built up and recently converted.

August sales have been quite strong in 2008:

Compared to the volumes reported last year in August 2007:

The August pricing was down form last year, yet the adjustments are such that many would classify that as a leveling out.

Compared to 2007:

Your friend in Real Estate,

Patrick Galesloot

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