Weekly look at the numbers here in Red Deer, and this week is different than last week. Ok maybe not that different but there are some differences. The changes are in the reported sales numbers. The last two weeks saw an increase in new listings with 82 and 83 properties listed, up from the weekly trend of 64. Sales dropped sharply from the previous week (37 to 24).
The decrease in sales represents a 34% decrease in sales. ***Note this can be attributed to Thanksgiving***
Yes big Turkey dinners and family gatherings can impact sales volume. Combine that with an election and a crazy financial market and recession headlines everywhere and we see the effect. This trend we will be watching closely, as an increase in listings versus sales has a negative impact on price typically.
The gap between the lines being inventory not sold and still available. When that gap widens the price value for buyers is a large factor.
Your Friend in Real Estate,