Our listing inventory is still soaring at a total of 727 homes in Red Deer on the market as of the end of May. Last year in May, we had 640 listings. Our prices are directly affected by supply and demand. With the supply continuing to rise, our market remains as a buyer's market.
The average sale price for May was $306,011.00 which is a decline from last month where the average sale price was $321,008.00. Please keep in mind that the statistics can be somewhat misleading. For example, last month there were fewer high end sales in Red Deer (The $550,000-$600,000 price range had 6 sales last month, where as this month there were only 2 sales in that price range). This directly affected our average sale price this month.
Our average days on market for Red Deer is 43 days in May. Keep in mind that does not take into account any listings that were listed for numerous days, cancelled and re-listed their property. I would guess that would raise our average days on market to at least 53 days.
What is the most active price range in Red Deer?
If your home is in the $250,000-$300,000 price range, your odds of selling are quite high. This range was our most active price range last month with a total of 43 sales.
If you have any questions, please contact me or keep an eye out for more statistics on my website:
Century 21 Advantage Realty