Not your typical movie fare, but when it comes to new listings 2008, is a block buster of a year.
It wasn't that long ago we were in a heated seller's market, we only have to look as far back as 2006. Then we started transitioning out of that frenzy in 2007 to today's buyer's market. Each market has it's good points and bad depending on the side of the transactional fence you are sitting. For ...
Posted by Patrick Galesloot
on May 26, 2008
Today the Bank of Canada announced yet another decrease in interest rates. A significant cut from 3.5% to 3.0%. The last time the Bank of Canada dropped rates by 1% in the same short time frame (6 weeks) was back in 2001. The Bank of Canada indicates that they are doing so in response to economic indicators primarily from the US economy. From the Bank of Canada Press Release: "The Bank is now projecting ...
Posted by Patrick Galesloot
on April 22, 2008
Inventory is up so can the same be said for sales???
As of today we have 673 properties for sale in Red Deer and 43 of those have pending offers. That's a lot of properties to choose from. So yes Red Deer is still in a buyers market. Those buyers where are they? Well they are out there. The weather has been fantastic with Spring weather conditions here. More people are out looking at properties and ...
Posted by Patrick Galesloot
on March 20, 2008
Here it is the day before Valentines day, and Penhold Real Estate appears to be as strong as ever. For those unfamiliar with Penhold, Penhold is located 14 kilometers south of Red Deer. Penhold is a growing community yet one who's growth has been slower than some of its neighbors. That is changing. For years now the north section has been tied up with a developer who was just slow to get things done. ...
Posted by Patrick Galesloot
on February 13, 2008
More of the same? Kind of, yes.December was a slow month in comparison to the other months in 2007. Sales of single family homes totaled 62 and in January we saw a modest increase up to 69 single family homes sold. Not a large numbers jump but still a 11.29% increase in sales. I wouldn't be surprised if I read a head line that indicated sales increase by 11%. That would not be an accurate reflection ...
Posted by Patrick Galesloot
on February 4, 2008
With head lines indicating that the end is near, and that we're in a buyers market so look out for falling prices how can 2007 be the best year ever?
By the numbers it is. Volume of sales is up, the average sale price is up, and the economy is strong. This is what it looks like for 2007 in the city of Red Deer:
2006
YTD 2007
Average List Price
$252,791
$313,378
Average ...
Posted by Patrick Galesloot
on November 22, 2007
In fact it was another busy month for real estate in Red Deer. It was very similar to October 2006. There was a total of 100 Single family homes sold in October 2007 compared to 101 in 2006. The similarities continued with the average sale price. The average sale price for 2007 single family homes was $338,856 and in 2006 it was $333,138.
Our growth has slowed to a point where we've caught up to ourselves. ...
Posted by Patrick Galesloot
on November 2, 2007
The Red Deer Real Estate Board released their stats yesterday for September. A few of the highlights are:"BUYERS BENEFIT FROM BALANCED REAL ESTATE MARKET"FOR IMMEDIATE RELEASERed Deer – October 9, 2007 – Throughout Central Alberta homes continued to change hands at areasonable rate last month according to the MLS® figures released by the Red Deer & District RealEstate Board.Residential sales ...
Posted by Patrick Galesloot
on October 10, 2007
Recently I was having a conversation about the market with a few friends and
colleagues. Those that were not Realtors were asking about the so called
price decline in Listings. "How much do you think the market will fall?"
they asked me. I look at them and reply "fall?".
The market is competitive and yes there is pressure on price, and on the surface
it may seem like ...
Posted by Patrick Galesloot
on October 7, 2007
It's October 1 and we've officially entered the last fiscal quarter for 2007. What an exciting year in real estate again. Dramatically different then 2006, and I can't wait to see how the rest of the year unfolds and 2008 begins.
Penhold historically has been somewhat quiet in comparison to the neighbors. 2007 is year best characterized as people on the ...
Posted by Patrick Galesloot
on October 1, 2007