How's The Market? November 2011 Update

November 2011 is seasonally a slower month.  Typically residential MLS sales volume for Red Deer declines as we get closer to Christmas.  Majority of people seem to be content with being settled for Christmas.  However sales occur daily and monthly through out the year and November is no exception.

November 2011 Red Deer residential MLS sales sales volume was 11.5% higher than the sales recorded for November in 2010, 126 and 110 sales reported respectively.  If your home is on the market and not in the sold category you may be saying "what gives?".  Here is where the sales were according to price range:

If your home is priced around the $300,000 price point, odds are you've been getting some viewing activity.  That is certainly the busier price range.  Conversely if you have a home priced above $550,000 November was a test of patience as it was a quiet month for sales in higher end homes.

Last year compared to this year was a bit more balanced with sales in more price ranges, however the January 1st to December 31st sales for Red Deer 2010 was 1376 homes sold compared to November YTD 2011 numbers of 1479.  YTD sales for Red Deer residential have already surpassed 2010 levels and year over year Red Deer residential MLS sales have increased by 25.49%.

November versus November for Red Deer residential MLS sales looked like:

All Stats are compiled from the Central Alberta REALTORS Association MLS data.  As you can see ablove both 2010 and 2011 have good volume, I like to see the total volume up as well as all price ranges.  The higher end ranges just don't have as many buyers right now.

Average price and national numbers are nice to look at but they are really not a reflection of the value of your home.  For that you truly need a local insight to areas and price ranges.  Despite positive sales growth, the balanced market is not prevalent in all price ranges in Red Deer and is not evident in all areas and sub areas.

More information to follow as we look at where the sales are 2011.

 

Your Friend in Real Estate,

Patrick Galesloot

twitter:  @pgalesloot

Patrick Galesloot

Patrick Galesloot

Broker/Owner
CENTURY 21 Advantage
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