Red Deer Real Estate Blog

How’s the market?  Prices going up?

I hear those questions and many like them quite often.  The real estate market in Red Deer is reportedly different than Calgary or Edmonton.  Last week the numbers were:

So far it’s pretty steady.  We’re off to a good start, but the difficulty for sellers is the increasing listings.  That trend is nice for buyers.  That sales to listing ratio has put a downward pressure on price in the past.  So how about now?

The past few years the price trend looked like:

The average single family sale price for the city of Red Deer ytd 2010 is: $332,200 after 88 houses sold.  So far price seems to be holding it’s own.  That could be changing as we get closer to spring and an increase in listings and summer sales.

We’ll keep watching the market and the trends that develop.  If you have questions about where the real estate market is going or how your home fits in give us a shout.

Your Friend in Real Estate,

Patrick Galesloot

Patrick on twitter:  @pgalesloot

** All real estate statistics gathered from the Central Alberta REALTORS Association **

Through a challenging economic and real estate year our Century 21 Advantage team performed exceptionally well.  We are very proud and please to announce that Century 21 Advantage earned a place at this years retreat for the top 30 Century 21 Canada Offices’ Chairman’s Circle.

Our Office Earned the Following Awards:

Our top performing real estate team includes these award winners:

Placing in the top 21 agents within the Centry 21 Canada once again:

Our Centurion® Producers and award winners:

Our Commercial Office Award Winners:

Considering a career in real estate, give us a call.  History of success and successful agents helps make the difference.

Your Friend in Real Estate,

Patrick Galesloot

When I think of 2010, I think of the movie “2010: The Year We Make Contact”.  Which prompted me to look up “odyssey” as I don’t often use that term, perhaps you do.

According to Wikipedia “the word odyssey has come to refer to an epic voyage”.  So will real estate in Red Deer 2010 be an “epic voyage”?  Was January the beginning of our epic voyage of real estate?

Red Deer MLS® Sales are up this year over last year by 37%.  A great start for sellers.

When we plot out the sales as per above we see a very distinct shape and concentration in the middle price rang and a more definitive grouping in the lower price ranges.  The average price for homes sold in the City of Red Deer according to the Central Alberta RTEALTORS® Association(CARA) was $276,381 compared to the low start of $239,821.  While you may want to say price is up 15%, I would caution that statement and point out that the average home sale price in December was $299,111.  It is quite common for January start with lower numbers.

The other day I blogged about the weekly real estate trend.  Sales have been slowly rising but not at the same rate as the number of listings coming on to the market.

For the past year or so we’ve been talking about the sales ration to new listings and that is quite noticeable above on the weekly trend.  During January 2010 there were 267 new listings and only 87 sales recorded by CARA MLS®.  That sales to listing ratio is only 32.58% for the month of January.  A strong buyers market indicator yet an improvement from the 28% in 2009.

Will 2010 be an epic journey/odyssey?

To early to tell, but I think we may be in for more of the same.  A year full of sales but the pressure on price competition will remain as we presently have 5.8 months of inventory at today’s sales rate.  The key to a successful sale will be price and condition.  Sellers will have to continue to be smart priced and in showcase condition.

If you have questions on real estate and how the market affects you.  Shoot us an email or tweet.

Your Friend in Real Estate,

Patrick Galesloot

Patrick on Twitter:  @pgalesloot

Last week marked the end of January 2010 and the end of another solid week in real estate for Red Deer in 2010.

Listing inventory climbed with more new listings coming on during that last week than the previous weeks however some of that was off set by sales and those that either expired or were cancelled.  The data from the Central Alberta REALTORS® Association for the Red Deer MLS® is as follows:

Both sales and listings have been active with more listings coming in the later portion of the month, particularly last week. The balance of listing inventory versus sales is something we will continue to monitor each week and month.

January 2009 versus 2010 update will follow later this week

Your Friend in Real Estate,

Patrick Galesloot

Patrick on Twitter:  @pgalesloot