January update- Red Deer Housing market


January finished off with a slight increase in overall sales (seven) from last year's January. Average sale price ended up at $317k and change w/ 99 sales of all sorts to make up that number. That from the 85 sales in January of 2012 and an average sale price of a few dollars over $300k.

A great start all in all to Red Deers predicted increase of approximately 2-2.5% according to leading economist reports. With the overall shortage in inventory, its making Red Deers current housing situation, somewhat of a sellers market. Limited inventory back in 2006 resulted in substantial price jumps in that market. Are we in for something similar this year? I'll take the more causious road and say that even though, all signs might suggest a price increase is in order according to the supply of housing available, there's still a warranted causiousness in our economy. My suggestion is to proceed with caution. But at the same time, putting off that next move because of uncertainties will more than likely result in having to pay more for that same house 6 months down the road.

Happy Selling!!

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