Red Deer Real Estate Blog

The Men of MOvember here at Century 21 Advantage are doing their part to change the face of men’s health.

If you haven’t heard of “MOvember”, it is a global initiate to raise funds and awareness for Prostate Cancer.  You can learn more at www.Movember.com.

However rather than just go to the Movember web site I encourage you to visit the Century 21 Advantage Team fundraising page for MOvember at: http://ca.movember.com/mospace/102207

The Movember Men are:

Left to right Eric Walper, Tim McRae,  Kirk Walper, Dan Wind, and Patrick Galesloot.  Absent doing real estate activities but a MOvember supporter:  Gavin Heintz

We have a few guys already sporting Mo’s, Eric Walper (pictured on far left), Dale Devereaux, and Larry Kemshead.  A couple of the younger guys around the office stick with the goatee.  The man that grows the MO, stays true to the MO.  The Red Deer Kinsmen Club has agreed to match the donations that their members raise.  Fortunately I am a member of the Red Deer Kinsmen and your donations then become double courtesy of the Red Deer Kinsmen.

Please take a moment and donate if you can.

Your Friend in Real Estate,

Patrick Galesloot

October in Red Deer is a weather roller coaster and a busy time for many.  We get snow, rain, and sometimes both.  We have family gatherings surrounding Thanksgiving, and parties at the end of the month surrounding Halloween.  October is a fun month and diverse month.

In Red Deer real estate, October 2009 was stronger than October 2008!

The number of sales reported to the Central Alberta REALTORS® Association for the Red Deer MLS® was 151 properties sold up from 2008′s sales number 128. 

Where were sales up?  As noted in the table above sales were most notably higher in the $150,000-$200,000 price range (which contributed to a lower average price ’08 vs ’09) and the $400,000 – $450,000 price range.

A pretty solid month of sales for October 2009 real estate.  On a week by week basis we also see consistent results.

On a weekly basis we ended the month with a sharp decrease in inventory.  This is not unusual to have many listings come off.  We may see that number return this week and next as some sellers contracts expired or were cancelled.  The number of new lists as noted above have been consistent for the most part during October.

The bottom line:

For buyers, there continues to be ample selection and affordable rates.  The average price remains strong and stable.  You can buy today with confidence that the market is stable and the largest risk buyers face today is in the potential increase of interest rates in the future.

For sellers, homes are selling at a good solid pace.  If you are priced competively demonstrating value to buyers a sale is in your future.  The same solid price and absorption rate that demonstrate confidence to buyers also tells sellers that the equity built up over time ion their home is more secure today than the past.  The sales rate of homes selling however means that you must be market price savvy and in top showing condition.

October was a month to be thankful for in Red Deer real estate terms.

• Sales up 17.9% over 2008
• October Absorption Rate is 14 – 18 weeks
• The Sales to New Listings Ratio is between 60% and 70% 

Your Friend in Real Estate,

Patrick Galesloot

Follow Patrick on Twitter:  @pgalesloot