Real Estate market update red deer Apr30 - May6

red deer real estate report weekly

Also keep abreast of real estate market news for Red Deer and Central Ab by checking in at www.HomeScope.ca - Red Deer's real estate news and information hub.

If you're planning to buy or sell residential real estate in the near future it's important to know as much as possible about your local market.

Not only is it important to know what is happening in the market at any given time it's also important to know what the market has done historically to make predictions. 

Putting weekly real estate updates together I want to state upfront that a real estate market is local. Also note, when someone says "Canadian real estate market" or even "Alberta real estate market" it almost certainly doesn't directly apply to your local market. Often you hear people making decision or giving advice based national  and international real estate information. Take non-local information with a grain of salt, it may have practically zero relevance to your local market. And before making any real estate decision call an experience local Realtor® for advice!


Red Deer real estate market Apr 29th - May 6th

Number of single family detached homes sold: 15
Number of single family detached homes listed: 
57
The average price of single family detached homes sold: $346,637

» Click here for last weeks results 

Number of other properties (condo, apart, duplex, town-home) sold: 8
Number of other properties (condo, apart, duplex, town-home) listed: 27
Number of condominiums sold: 5
Number of condominiums listed: 16
The average price of condominiums sold: $331,740

Number of residential units sold between 0-200k: 1
Number of residential units sold between 201-300k: 10
Number of residential units sold between 301-400k: 6
Number of residential units sold between 401-500k: 5
Number of residential units sold between 501-750k: 2
Number of residential units sold above 751k: 
0

Total on market
Listings: 84

Total off market
Expired & canceled: 58
Listings sold: 24

Margin
63 (entered market) - 54 (off market) =  26

This past week property listings surpassed sales numbers substantially. With the snow gone and greater sales expected we just witnessed the largest number of listings hitting the market. I attribute a large portion of the listings we are seeing to a large number of expired/ canceled listings. A large portion of listings that expire or are canceled are relisted. 

It's still a buyer favoured market in Central Ab and that indicate it's a great time to buy. Most buyers will wait to see if prices drop but all stats indicate they wont. Keep your eye on my "average price charting" news for Central Alberta >HERE<

View the monthly inventory stats at http://www.homescope.ca

For more local real estate news, info and statistics continually check in at www.HomeScope.ca.

» Click here for last weeks results 

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Hosted by Blake King Realtor® with Century 21 Advantage in Red Deer. Blake King continually monitors the Red Deer and Central Alberta real estate market to track changes and watch trends so his clients make the most informed decisions when buying or selling their home. If you want to learn more how local market stats affect your buying selling decision call or email Blake King anytime (403) 350-7672 or hello@blakeking.ca

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Blake King

Blake King

Affiliated Real Estate Agent
CENTURY 21 Advantage
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