The month of October was a dramatic change in weather from the above seasonal weather that was just plain fantastic in September. Of course October also includes Thanksgiving and Halloween. Did any of these events impact Red Deer real estate?
A look at the MLS® numbers in Red Deer reveals the following:
|Sales, Number of|
The change in weather, a holiday where people gather with family, and a family event day (Halloween) appeared to have no impact. The monthly residential sales volume for the Red Deer MLS® was the same as the great weather month September, and was well above the previous two years sales data. In fact there has been a tremendous amount of reports that the rental market is very tight fueling a demand for affordable entry level homes. "Fueling" meaning it is starting to grow as the finance qualifying and buying ability also grows.
As you may recall, sales is only one side of e the real estate market health check. I've been commenting on listing volume and inventory for some time. That side looks like:
|Active Listings, Number of|
As you can see the day to day inventory of active residential MLS® listings has declined from previous years. The decrese in supply, coupled with the stronger sales volume is indicicative of a balanced market.
The question I get asked the most though is about price. "How are prices are they going up yet?"
Such a challenging question to answer, as the data available is often using "average sale price" which really only tells you what price people are buying around in a ny given month. It is not a reflection of your house and any capital/equity growth in value you may have. So with that said here you go:
The picture doesn't lie, the average goes up and down monthly but overall there has been a consistant upward trend.