Red Deer real estate weekly report Nov 13th-19th

Blake King's real estate update for Red Deer
Also keep your eye on more Red Deer real estate market news and info by checking into www.HomeScope.ca - Red Deer's real estate new 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 weekly report Nov 13th-19th

Number of single family detached homes sold: 12
Number of single family detached homes listed: 
22
Average price of single family detached homes sold: $366,432

» Click here for last weeks results 

Number of other properties (condo, apart, duplex, town-home) sold: 10
Number of other properties (condo, apart, duplex, town-home) listed: 16
Number of condominiums sold: 3
Number of condominiums listed: 9
Average price of condominiums sold: $197,133

Number of residential units sold between 0-200k: 3
Number of residential units sold between 201-300k: 10
Number of residential units sold between 301-400k: 5
Number of residential units sold between 401-500k: 3
Number of residential units sold between 501-750k: 1
Number of residential units sold above 751k: 
0

Total on market
Listings: 38

Total off market
Expired & cancelled: 33
Listings sold: 22

Margin
38 (entered market) - 55 (off market) =  -17

We should continue to see both sales and listings slow moving through Dec. It will be nice if sales continue steady to correct the high inventory as of late. This week the deficit between homes entering the market and home exiting the market is a higher than average -17. Homes are selling at an average rate but sellers will let their properties expire over the next few months. If a seller does remain "on the market," and a large number of properties leave the market, you could argue the change of selling through Dec and January is similar to other times during the year. I think sales will remain steady through the normally slower months because diligent buyers have heard the banks issue statement regarding the chance local prices my be at as low as they'll go as we crawl out of the recession. Buyers who see why prices will probably increase from here on forward also realize interest rates will climb too in the new year.

 

Here's to increased sales and reasonable inventory levels into and through 2018. 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 

Fully finished home in Sylvan Lake only $289,888


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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