Real Estate Blog

June Red Deer MLS Sales

June 2018 was not a stand out month compared to previous June's.  Sales were almost identical compared to last year.

How many showings clients are getting and inquiries on their home does vary by price range. The higher the price, the lower the demand, and as you can see above, some price ranges had little or no activity for Sales (Red Deer Residential MLS® Stats).  The most active price range was $300,000 - $350,000.

 

The sales numbers reported to the Central Alberta REALTORS® Association also highlight that Single Family Detached homes (House) in Red Deer remain the most popular.  Apartment style condos are not at the same level of demand as larger urban centers.

The preference for Single Family homes is also evident when

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How's the market?

Should I buy now or wait?

Should I sell now or wait?

If you missed our economic update event, we brought in ATB Financial's chief economist and he stated that we are in recovery mode.  We have emerged from the recession and slowly climbing, overall Alberta economy wise.  So that is a positive indicator that the worst is behind us.  Anecdotally the mood, the feel, the vibe in Red Deer and surrounding area is more positive and we the people on the street tend to echo that sentiment.  Things are looking up.

Real Estate market, March marked the fourth consecutive month of year over year sales growth.  More people are buying than last year.  Another positive indicator.  In fact for the City of Red Deer, MLS® residential home sales

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Our second Red Deer Economic Update is coming up on April 11th.  

Once again we are bringing ATB Financial's Chief Economist Todd Hirsch to discuss the economy in Alberta, and what homeowners, home buyers, and business owners/investors might see in 2018 and beyond.  There is a general sense that the overall economy is improving.  Is this backed up and factual?  What sort of growth might we anticipate if any at all?

As a homeowner, you might be concerned with maintaining your equity, and retirement goals with real estate.  We will strive to answer real estate related questions when it comes to Red Der & area.  Patrick Galesloot, Broker & Owner of Century 21 Advantage will open the information session with a look at the local real estate market. 

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February 2018 Red Deer real estate market continues positive sales trend.  There were 98 Sales reported for the month of February 2018. This was 17% higher than the sales volume reported last February.  17%!!

February MLS® Sales for Red Deer

So, Why Isn’t My House Selling?

Let’s take a look at the market before we analyze your home specifically.  Let's break down the sales volume compared to new listings for February 2018.  Also known as “supply & demand”.

“There are a lot of homes for sale”.  Yes, there is. The Gold lines are the “supply” side of real estate inventory, more specifically the number of new listings added, and the Black lines represent the sales reported to our MLS® board for February 2018.

In total there were 98 sales reported and 238 new listings

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You've priced your home to sell, and wondering what's happening out there in the market.  The supply and demand for real estate vary by location, property type, and price range.  Yes price range.  What's happening in your price range?

The average price and median price for real estate is usually a function of income.  Our incomes can only support a mortgage so big.  There are plenty of mortgage calculators out there to assist you in determining "how much mortgage can I afford".  This average is true in Red Deer, AB.  Not so much in a Toronto or Vancouver market.  The sales volume by price range is reflective of the income levels in the area.  For a good affordability calculator check out his one.

Looking at the MLS® sales data for January 2018. 

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 Listing your home for sale involves a lot of preparation, and planning.  Many of our clients are seeking to move up (get a bigger home for their growing family) which involves finding the right home or building.

One of the key factors for any sale is, "how long does it take?".

Perhaps you will be surprised, but the average time a property takes to sell varies by location, and property type.  Currently, in Red Deer AB a single family detached home (a house) is the quickest when it comes to putting a "Sold" sign up.  The average for a house in Red Deer is 53 days.  By contrast, the average for an apartment style condo was 80 days.

Average Days Top Sell On MLS®, provided by Century 21 Advantage

These benchmarks change throughout the year, and will also vary by age, location and community.  We recommend that

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The short answer is yes!  Yes, the residential real estate market in Red Deer is improving.In fact, the sales volume January 2018 increased 35% over January 2017.

Now typically January is one of the quietest months of the year.  Not a lot of house hunting going on when the weather is -30C.  Fortunately, despite the inclement weather, there were more home shoppers this year than the previous 3 years (January over January).  WE're cautious to state this is a trend, but we're pleased and optimistic that this is a start of a new trend in Red Deer.

January Red Deer MLS Sales Graphic by Century 21 Advantage

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This morning we had the pleasure of presenting to the Red Deer Social Media Breakfast.  This was the 57th event for this local networking and learning group.  As a sponsor, we were delighted to share a brief update on the MLS® real estate market in Red Deer, AB for 2017.

The slideshow is available to view on SlideShare.net for those in attendance that didn't get a view or wanted to look at the numbers in detail.  It is also now available for everyone.  Any questions on the content please feel free to ask.  Please note the data is taken from the Central Alberta REALTORS® Association MLS® and the numbers are a combined values for all property types using sale data from 2017. 

Starting with a comparison of average house prices.  We're fortunate to…
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Your Home Search In Blackfalds With Century 21 Advantage

Searching for Blackfalds Homes for Sale? Blackfalds has a variety of real estate options for buyers.  Some great townhomes, modern duplexes and more.  With our new Century 21 Advantage website, you can find the right Blackfalds home and have those listings sent to you direct.  If you’re not interested in email delivery of MLS® listings that meet your criteria, then feel free to browse and then favorite the right one(s) so you can easily share.

On our Blackfalds pages, you can search easily by price range or expand the search bar to filter down to as much or as little as you’d like.

 Feel free to view all the other Central Alberta Communities

  • Red Deer
  • Sylvan Lake
  • Blackfalds
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Aside from the logistical issues associated with "closing" moving in the last week of December, buying a home for the holidays maybe JUST the right time.

Who wants to put up all those decorations, and fight crowds of people at the mall jostling for parking stalls, when you can scoop up a great deal during the Christmas Holiday break anyway.  Besides REALTORS® don't really ever take breaks.  What are some of the key benefits of buying a home in December? (psst sellers, check out this blog for some key tips)

  • Less competition from other buyers. 
The dream home you have your eye on is available for you to make a no-pressure offer, without a bidding war.

  • Houses look and smell pretty. 
The smell of fresh baked cookies, which if we're lucky the…
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