This Week in Real Estate

How's the market?  Prices going up?

I hear those questions and many like them quite often.  The real estate market in Red Deer is reportedly different than Calgary or Edmonton.  Last week the numbers were:

Weekly Stats # Listings # Sales # Pending Sales # Price Changes # Off Market Net loss/gain Active Single Family Listings Total Active
Dec.28/09-Jan. 3/10 18 15 10 4 51 -48 250 416
Jan. 4-Jan. 10 66 21 2 11 19 26 221 362
Jan. 11-Jan. 17 49 18 7 23 29 2 248 408
Jan. 18-Jan. 24 51 15 20 16 22 14 284 472
Jan. 25-Jan. 31 83 25 29 35 35 23 299 496
                 
Feb. 1-Feb. 7 86 31 31 36 26 29 325 527

So far it's pretty steady.  We're off to a good start, but the difficulty for sellers is the increasing listings.  That trend is nice for buyers.  That sales to listing ratio has put a downward pressure on price in the past.  So how about now?

The past few years the price trend looked like:

The average single family sale price for the city of Red Deer ytd 2010 is: $332,200 after 88 houses sold.  So far price seems to be holding it's own.  That could be changing as we get closer to spring and an increase in listings and summer sales.

We'll keep watching the market and the trends that develop.  If you have questions about where the real estate market is going or how your home fits in give us a shout.

 

Your Friend in Real Estate,

Patrick Galesloot

Patrick on twitter:  @pgalesloot

** All real estate statistics gathered from the Central Alberta REALTORS Association **

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