New Home Construction Market Update

Red Deer is a beautiful city to live in. It is conveniently located halfway between Alberta's two major cities, Calgary & Edmonton, which makes Red Deer Alberta's third largest city (over 92,000 residents). There are many little towns located within 10-30 minutes from Red Deer such as, Blackfalds, Lacombe, Penhold, Southbrook, Sylvan Lake, and many more. The city of Red Deer and the surrounding Red Deer county offers excellent recreational activities, campgrounds, fishing/boating areas and golf courses for visitors and residents. With its central location in Alberta, numerous hotels and restaurants, Red Deer is a popular destination for many tradeshows, conventions and festivals. 

In terms of Real Estate, more and more individuals & families seem to be relocating to Red Deer each year. There has been a steady increase in population over the past 10 years. With that being said, the need for new home construction continues to rise. The areas with the most new and recent development include, Garden Heights, Timberstone, Timberlands, Vanier Woods, Inglewood, and Clearview Ridge. Also, Glendale is experiencing a small volume of new expansion. New homes are under construction by 59 & Green.

Below, there is a detailed update on Red Deer's New Home Market...

New Home Construction 2013 Statistics

So far, 14 homes* built this year (2013) have been sold

Breakdown of solds: 2 sold in Garden heights, 6 sold in Timberstone, 2 sold in Vanier East, 3 sold in Vanier Woods, and 1 sold in Westlake.

Average days on the market: 32

Average sale price: $406,000

Style: Bi-levels sold = 11
              2-Storeys sold = 3

There are currently 8 homes* built this year (2013) available on the market.

Breakdown of available listings: 1 available in Clearview Ridge, 1 available in Sunnybrook, 2 available in Timberstone, 2 available in Vanier East, 2 available in Vanier Woods. 

Average days on the market: 28

Average list price: $438,000

Style: Bi-Levels available = 4
2-Storeys available = 2
Bungalow = 1
Bungalow/Duplex = 1

Also, many individuals/families choose to buy their new homes nearby in Blackfalds or Lacombe. Right now there are 17 new developments this year for sale in Blackfalds and 15 in Lacombe.  

*Homes listed/sold through MLS. Does NOT include private transactions.*



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Melissa Morin

Melissa Morin

CENTURY 21 Advantage
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