So far in the first half of 2011 we have seen an improved real estate market. The Red Deer market has seen a turn around to the positive. Last year we saw a lot of overpriced listings that did not sell. The market was correcting and people (realtors and sellers) were not in a hurry to acknowledge that. This year we are getting less listings on our system but more are selling. Below are numbers that show what I am talking about:
2010 – 1880
2011 – 1663
2010 – 754
2011 - 814
That’s an 12% decrease in listings and an 8% increase in sales. The biggest number to me is that out of 1663 listings this year Realtors have sold 48% while in 2010 we sold only 40%. That’s huge. It shows an improving market. While sale prices have not changed a lot it shows people are willing to purchase again. Consumer confidence is coming back.
My thoughts on the second ½ of 2011 are guarded. I believe those numbers will increase. I think we will see more sales in the second half of 2011 than the first half. The first half we saw 814 sales and I think we will see probably 850 or so sales in the second half. I think consumers are seeing an improved Alberta economy and are starting to spend money again. But its smart money. People are buying houses but are buying more affordable houses. That’s a good thing.
If you are thinking of buying a home or selling your existing home please give me a call. Your realtor should be on top of the ever changing real estate market. For buyers this means a realtor who can walk you through a house and tell you which one is overpriced and why. As a seller I can show you how to maximize your home to receive top dollar in your sale.
Call or email me at any time if you ever have any questions
Thanks for reading
Century 21 Advantage