Numbers for the local real estate market here in Red Deer, were recently released. Despite a global economic freak-out on a local level real estate remains stable over all. The weekly sales volume reacting to media, but overall we're experiencing a consistent trend.
Compared to a year ago September sales have been good, but 2008 has more spikes. Possible media connection with the US economy melt down, and elections etc... The trend to seasonal declines more evident a year ago.
The Central Alberta Realtors Associationreleased their third quarter numbers numbers in a press release. Some of the highlights were:
"Using Single Family Detached Properties (which Weins considers to be the Market Benchmark), Red Deer City turned in 400 sales for the quarter compared to 445 during the 2nd Qtr'08, and 344 during the same period in 2007. Median Prices were $324,000 during the 3rd Qtr'08, compared to $323,000. for the 2nd Qtr'08 and $330,000. for the same period last year. ½ Duplex sales were 55 vs. 63 last quarter and 53 last year. Median Prices were $266,000., $260,000. and $275,000. respectively; while fee simple (non-condo) townhomes provided 76 sales at a Median Price of $233,000. vs. 62 at $233,000. for the 2nd Qtr'08, and 52 at $239,000. last year. Around the Region the Median Price for a Single Family Detached in Blackfalds was $284,000 vs. $296,000 last year; Camrose $270,000. vs. $303,000.; Innisfail $269,000 vs. $302,000.; Lacombe $316,000 vs. $307,000; Ponoka $255,000 vs. $243,000; Rocky Mountain House $290,000. vs. 291,000.; Stettler $218,000. vs. $236,000 and Sylvan Lake $325,000. vs. $347,000."
Selectoin in Red Deer remains strongs with many listings available in all price ranges. With interest rates cut again this week, and the Finance Department of Canada taking further steps to ensure credit is available, now remains an opportunistic time to buy. The chart below shows the listings coming on to the market in September.
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