Red Deer Real Estate Update September 2011

End of September heralds in the fall market, and the closing of the third quarter for MLS® statistics.  Here in Red Deer residential sales have been positive for year over year growth and the supply side, namely listings, has decreased year over year.  When we started 2011 our expectations were for modest growth and a trend to a balanced market.  With the economic conditions in Alberta looking increasingly favourable we were anticipating a robust end to 2011.

So where are we at for 2011?

The average price seems to fluctuate month to month, but that is a function of where the sales have been occurring.  The table below indicates that sales are certainly more plentiful between $200,000 and $350,000.  The fluctuation price is largely in part due to the presence or lack of sales in higher end price ranges as that mid or median group seems pretty consistent.

Average Price Comparison to Number Sold                    
2011 100& Under 100-150 150-200 200-250 250-300 300-350 350-400 400-450 450-500 500-550 550-600 600-700 700+ Total Avg. Pr.
JAN 3 4 8 12 25 14 15 4 4 1 0 0 1 91 $285,785
FEB 3 5 13 22 24 15 8 8 2 2 1 0 0 103 $268,133
MAR 4 6 10 26 35 32 19 13 1 2 0 1 1 150 $291,408
APR 6 7 11 14 36 27 9 7 5 4 0 0 0 126 $282,140
MAY 8 6 15 39 34 20 31 10 7 1 5 1 2 179 $291,395
JUN 4 11 8 32 46 23 19 16 6 1 1 2 1 170 $290,373
JUL 8 5 14 21 36 28 13 11 6 4 1 2 1 150 $291,228
AUG 8 9 13 28 29 26 10 4 6 0 2 2 1 138 $272,959
SEP 5 4 4 16 31 22 20 9 1 1 2 1 2 118 $303,513
TOTAL 49 57 96 210 296 207 144 82 38 16 12 9 9 1225 $286,326
Information based on Red Deer Real Estate Board MLS Stats 2011 only.

Graphically it looks like this:

How does this compare to last year?

MLS® Year-To-Date Comparison--2009-2011 for Red Deer
Year-To-Date---2010
  Total
# Listings
2008
Total
# Listings
2009
Total New Listings 2010 Total new Listings 2011 2008
Total
# Sales
2009
Total
# Sales
2010 2011 2009 Average Sale Price 2010 2011
JANUARY 305 218 267 222 106 62 85 91 239,821 276,381 285,816
FEBRUARY 310 276 250 229 171 113 115 103 300,465 304,745 268,133
MARCH 394 280 321 232 168 123 120 150 285,407 314,215 291,408
APRIL 410 305 323 281 220 178 156 126 295,447 321,008 282,140
MAY 388 331 334 299 214 197 151 179 309,492 306,011 291,395
JUNE 357 299 370 316 204 213 133 170 291,287 287,950 290,373
JULY 350 281 300 281 208 179 126 150 289,213 326,077 291,228
AUGUST 274 250 291 236 204 163 94 138 289,122 316,845 272,959
SEPTEMBER 272 269 249 241 184 122 121 118 297,656 300,488 303,513
OCTOBER 314 256 239   128 151 76   293,268 304,618  
NOVEMBER 361 206 195   88 114 113   291,957 309,608  
DECEMBER 103 124 119   58 85 99   298512 268818  
Total 3838 3095 3258 2337 1953 1700 1,389 1225      

 We are fairing quite well compared to the two previous years.  We are certainly on track to record a better year than 2011 and we may be close to returning to 2009 sales volume levels.  It will be interesting to see how the final three months turn out. 

It is important to note that real estate is hyper local.  The surrounding bedroom communities and areas have a slightly different result for the year than the City of Red Deer and as we've noted above, different price ranges are experiencing higher rates of sales than others.

Patrick Galesloot

Patrick on Twitter: @pgalesloot

**Note all stats are MLS® residential stats for the city of Red Deer***

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