Back in the swing of things

2007 over and were into business in 2008. The number of active listings has decreased to a more manageable level it would seem. Rather than the 400 + single family homes available for sale we are now at 310 Active properties today.

December was a quiet month for many of us with those listings. With so many homes to choose form and a Christmas season that historically has people waiting till after Christmas to move, our phones were quiet with viewing requests.

Back to normal now. The phones are ringing and people are on the move. The Bank of Canada recently lowered interest rates, and the provincial and federal governments are still in a giving mood. GST dropped to 5 %, and many grant and infrastructure programs are in full gear. There is much to be thankful and optimistic about.

Now is a good time to buy. Years past houses prices tend to take a bit of a bump in the spring, as more and more people become active with there real estate plans. I would recommend looking at your goals this year and perhaps now is the ideal time to start a move.

So the big question is how was 2007 vs. 2006 and where will 2008 take us?

2007 was full of change as we leveled off and caught up to ourselves. You may recall 2006 was a frantic paced year with numbers climbing steadily every month and Realtors scrambling to find houses available for buyers. 2007 transitioned into a year where the sellers out numbered the buyers, and buyers were cautious and took there time deciding on a home. More negotiating room was available for buyers, and sellers could sell and upgrade without fear of becoming homeless while enjoying all that built up equity. In 2006 there were 1242 houses sold in Red Deer compared to an increase, yes an increase in sales, in 2007 to 1399.

That was a 12.6% increase in sales for 2007. With sale prices also climbing from an average median sale price of $274,928 for 2006 to in $330,633 for 2007 (Average Median Sale Price). Sale prices ion the end caught up to where they finished in 2007 but year over year growth was a fantastic 20.3%.

Your friend in Real Estate,
Patrick Galesloot

**stats from mls data for Red Deer Single Family Homes**
Patrick Galesloot

Patrick Galesloot

CENTURY 21 Advantage
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