Thursday, Ask The Broker, "How's the Market"

Aside from technical questions and reassurance type of contract questions I get from agents, the most common question I get is "How's the market?"

It's great, but it's always great when you ask a real estate agent right? 

Here are the numbers and I'll let you make that judgement call.  At the end of the day what is important is your finances, your home, your decision and situation on whether today is a good day to sell your home or buy a new one.

CARA, Red Deer May 2012-1

The average sale price for all property types has been slowly increasing this year and has been recovering nicely.  If you purchased your home at the "peak" of the real estate frenzy and prices,w e're not there yet but we are experiencing some price growth as a result of the increased demand in the market place.

2-Market Watch  -  Chart

The Monthly sales volume has been solid the last two months with 200 MLS® sales reported in the City of Red Deer during the month of April and 198 MLS® Sales reported in May, 2012.  While the total number appears to be very similar you can see that the sales by price range moved up somewhat, April in Purple and May in light Blue.

CARA, Red Deer May vs

The other positive note on the monthly sales volume is you can clearly see above that the last two months have been the busiest with respect to sales activity in the last two years!  Combine that with the listing (supply) volume also lower than the previous years we are seeing increasing price pressure. 

Year-To-Date Pricing

So.... How's the market?

 

Patrick Galesloot

The Broker/Owner with Century 21 Advantage

@pgalesloot

 

 

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Patrick Galesloot

Patrick Galesloot

Broker/Owner
CENTURY 21 Advantage
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