The Turkey Impact on Real Estate?

The month of October was a dramatic change in weather from the above seasonal weather that was just plain fantastic in September.  Of course October also includes Thanksgiving and Halloween.  Did any of these events impact Red Deer real estate?

A look at the MLS® numbers in Red Deer reveals the following:

Historic Count of Sales by Month 
 Sales, Number of
Month2009201020112012
Jan 62 85 91 85
Feb 113 115 103 135
Mar 123 120 150 155
Apr 178 156 126 200
May 198 151 178 198
Jun 213 132 170 188
Jul 179 126 150 158
Aug 163 94 139 130
Sep 122 121 118 138
Oct 151 76 127 138

The change in weather, a holiday where people gather with family, and a family event day (Halloween) appeared to have no impact.  The monthly residential sales volume for the Red Deer MLS® was the same as the great weather month September, and was well above the previous two years sales data.  In fact there has been a tremendous amount of reports that the rental market is very tight fueling a demand for affordable entry level homes.  "Fueling" meaning it is starting to grow as the finance qualifying and buying ability also grows.

As you may recall, sales is only one side of e the real estate market health check.  I've been commenting on listing volume and inventory for some time.  That side looks like:

Active Listings, Number of
Month2009201020112012
Jan 568 519 528 381
Feb 632 583 560 404
Mar 666 689 561 461
Apr 673 738 622 482
May 667 780 667 523
Jun 620 859 693 533
Jul 628 855 688 547
Aug 600 849 665 534
Sep 626 763 640 501
Oct 568 732 552 454

As you can see the day to day inventory of active residential MLS® listings has declined from previous years.  The decrese in supply, coupled with the stronger sales volume is indicicative of a balanced market.

The question I get asked the most though is about price.  "How are prices are they going up yet?"

Such a challenging question to answer, as the data available is often using "average sale price" which really only tells you what price people are buying around in a ny given month.  It is not a reflection of your house and any capital/equity growth in value you may have.  So with that said here you go:

The picture doesn't lie, the average goes up and down monthly but overall there has been a consistant upward trend.

Patrick,

 

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Patrick Galesloot

Patrick Galesloot

Broker/Owner
CENTURY 21 Advantage
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