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. Probably more to do with it than that as the property has changed hands, but the new guy on the block has kicked into gear and we're seeing Penhold grow.
There has been 11 houses listed for sale since Jan. 01, 2008, most of these new construction homes. With an average list price of $330,400. Of those 11 house 4 are now sold and a fifth is conditional. This is great.
To compare there was merely 8 properties listed in the same time frame in 2006 one was cancelled and 2 were sold in the same first 6 weeks. So we're seeing a bit of an increase in the selling rate in Penhold.
Why would this be when many other areas are reporting otherwise? Well, as mentioned, Penhold Real Estate has been a low starter compared to similar sized communities and communities in the Central Alberta area. Blackfalds was declared the fastest growing community per capita at one point in Canada not that long ago while Penhold was virtually standing still.
I guess you can say that Penhold is an Apple not a Tomato. slow and steady but eventually delivers an abundance of fruit while other may be Tomatoes. Fast growing yet compared to an apple tree less fruit seasonal. Which would you prefer fast sharp growth and decline cycles or slow and steady ever climbing growth?
Your Friend in Real Estate,