October was an active month for house sales in Red Deer. The $250,000 to $350,000 price range was the most active price range with 34 sales.October had the highest increase in sales for the $700,000 plus price ranges for all year, with a total of 2 sales.
We had an increase in our average sale price to $293,268 comparing to an average sale price in January of this year of $239,821. This can most likely be contributed to the influx in sales of the higher end properties.
Let's compare to last year market this time of year...
The average sale price in October of 2008 was $297,451. Which is of course slightly higher than our October of 2009 that came in at $293,266.
What does this mean?
It means that it is still a good time to buy real estate in Red Deer. We have had a good amount of sales, however, we continue to have a lot of supply allowing buyers to have a good selection for homes to purchase. The interest rates remain low and the government buyer incentive plans are continuing to drive our market.
If you or any of your friend and family are looking for real estate information, please contact me at 403-588-6444.