Sales in January 2015 were over 26% lower than January 2014. Don't get this confused with the average sale price. January 2014 average home sale price was only 4.8% lower than January 2015 ($348,285 / 2014 and $331,640 / 2015).
In February 2014 123 properties sold in Red Deer and in February 2015 there were 109, only a 11% drop. Average sale price in February 2015 was a little lower than February 2014 but not as bad as January's numbers. That's good new so far this year. With so many people predicting tragic outcomes due to lower oil prices it's nice to see things looking better for the Red Deer real estate market as we progress into 2015.
Above I mentioned January 2015 average home prices having dropped 4.8% over previous January - in February they only dropped 2.7% over 2014. Additional good news for a market dealing with low oil prices and some cautious consumers.
It will be interesting to see how the real estate market unfolds as the year progresses. I'll keep you up to date with statistics here at www.HomeScope.ca.