Red Deer Real Estate Blog

Another week in Real Estate in Red Deer.  This weeks market update has more of the same with a few changes.

Listings are up and on the same level as last weeks new listings:

The big change is the number of reported sales.  Typically we have a quieter weekend around the big food holidays (Easter and Thanksgiving).  This year turkey consumption and family gatherings impacted sales:

Trend we all are watching is the ratio of listings to sales.  That ratio is heavily slanted in favour of listings.  Buyers market conditions remain:

Keep posted for further developments

Your Friend in Real Estate,

Patrick Galesloot

Last week Innisfail put on the Thanksgiving Scarecrow festival.

From Innisfail

From Innisfail

From Innisfail

A Fun free activity for the family.

Your Friend in Real Estate,

Patrick Galesloot

Fall continues to be a dynamic time of year. Historically it marks a slow down in activity the closer we move towards Christmas. Fortunately weather has been fantastic and interest rates steady, making for a favorable buying season. There has been a rush to a certain extent as buyers hurry to take advantage of the 40 year amortizations and zero down payment options. Most banks having already stopped that practice shortly after the October 15th deadline announcement.

Market stats weeks ending October 5th

From the beginning of August we can see weekly fluctuations in inventory but overall a trend upward as indicated below:

Weekly Sales Trend

Despite the gradual increase in new listings the sales volume on a weekly basis as indicated above remains stable.

With an election just a week away and the financial markets going “nuts”, Red Deer real estate remains a stable fixture.  Alberta’s economic forecast remains bright.

Your friend in real estate,

Patrick Galesloot