So how is the market Ken?

Spring time is back again. Whenever spring happens the Red Deer real estate market picks up. Our phones start ringing more, our open houses are busier and our visitor stats for our websites go up. More people are looking both online and in person.

This year we had a surprisingly busy February and March is typical with people looking and wondering. From what I have seen this year prices are down a bit over this time last year. Last year the market was pretty much stagnant, lots of listing and not as many sales. What we are seeing this year is there are less listings coming on and more sales. Last year for this part of the year there were 277 sales and so far this year we have had 290. As far as the price is concerned prices dropped last summer-fall by 6-7% but are holding steady this year. Typically the spring market drives prices up a bit but I think this year will be different. With the recent boom  and recession consumers are more educated and nervous about buying the big ticket items. Buyers today are looking for value. Buyers have the option to look at 15-20 homes before they make their choice. Spring 2010 is looking like a fairly decent spring for the housing market, Listings are dwindling and sales are up, there are lots of choice for buyers and time to look. To me its a perfect market for both sellers and buyers. Sellers can sell if your home is priced right and shows well. Buyers have choice.

My prediction for the 2nd quarter is a more balanced market. I think there will be more people seriously buying homes. My reasoning is that with the changes coming to the lending rules and a typical spring market I think there will be more homes sell. The 1st quarter 37% of all homes listed has sold, I think in the 2nd quarter it will be closer to 50-55% will sell.

What does that mean to you?

Buyers - there will be choice for you. Get out and look now and get to know what your choices are.

Sellers - Get your house on the market, have it in showhome condition if you want top dollar.

If you are thinking of buying or selling call or email me and we can meet and get you started on your next real estate experience.

Ken Devoe

Century 21 Advantage - Red Deer AB


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