Red Deer & County Real Estate in October

2011 will be looked upon as a year in which the Red Deer real estate market activity deviated from expected patterns.

While the Summer months are normally slow, August was very busy. Homes for sale in Red Deer normally find increased buyers in September and the market slows somewhat in October. This year, September was a relatively slower month, while October recorded increased activity.

Sales in the overall Red Deer real estate market (123) in October increased over September results by 4.2% and were higher than October of 2010 by 61.8%. New listings declined compared to the month before and the year before by 11.7% and 21.7% respectively. The median sale price of $285,000 was 3.2% below the median price during September but on par with this same month last year. Sellers negotiated 97.4% of their asking price. Average days to sell recorded at 50.

Red Deer & County September Market

Fall activity in the Red Deer real estate market got off to a slow start this year, with overall sales and listings falling below numbers recorded during August.

September results typically record more activity than during the summer months, but 118 Red Deer homes for sale found new owners in September, a 14.5% decline from sales reported during August this year. The median sale price for properties changing hands during September in the overall Red Deer real estate market was $294,400, 8.8% higher than August’s median and down only 0.2% compared to last year. This median reflects September’s demographic of Buyers rather than suggesting a trend toward increased prices. On average, Sellers realized 97.3% of their asking price at time of negotiations. Average days to sell numbered 51.

Acreage sales recorded the busiest month in several years. 17 acreage properties sold in Red Deer  County during September at a median price of $369,667. 8 properties sold above and below the median price.

Red Deer Real Estate in July

The Red Deer real estate market reflected typical seasonal slowdown in July, reporting reduced activity in both listings and sales compared to June records.

Red Deer homes for sale that came to market during July (259) were 13.4% fewer than June’s new listings and fell short of listings last year at this time by 1.5%.

150 Red Deer homes for sale changed hands in July compared to 162 during June, a 7.4% decrease in month-over-month volume and off from the number of sales in July 2010 by 2.6%. The median sale price this July was $285,000, 1.4% higher than June’s median, but 5.6% below the median sale price recorded last July. The median sale price reflects the mid-price of recorded sales. An equal number of properties sold above and below the median sale price. The average size of properties changing hands was 1241 sq ft. above grade. Sellers realized 97.0% of the asking price at the time of sale. Average days to sell recorded at 45.

Red Deer Real Estate in May

The Red Deer real estate market recorded a decline in inventory during the month of May, with fewer new listings coming to market than the month before and a recorded increase in sales.

262 Red Deer homes for sale were new to the market in May, a 3.7% decline from new listings in April, and 12.1% fewer than properties entering the Red Deer real estate market during May of 2010. Sales recorded at 172, 39.8% above April results and a 13.9% increase over sales at this same time last year. Prices continued the downward trend. The median sale price of $282,500 was 1.9% below April’s median and 3.9% lower than the median selling price in May 2010. Average days on market dropped to 44 and Sellers realized 97.3% of their asking price at time of sale.

Red Deer County recorded 10 acreage properties as unconditionally sold during May this year. 5 properties had 1 or 2 acres and sold for a median price of $520,000. These properties were in subdivisions on the edge of cities or towns. Average days to sell were 95. 3 Properties offering an average of 5 acres of land each had conditions removed in May, with a median selling price of $272,900. 2 Listings were valued for the size of the lot offered, while the one that sold for over $500,000 offered a better home in excellent conditions as well as 5 acres of land. 2 properties sold with greater than 15 acres of land. One sold for just under $300,000 and the focus was on the 18 acres it offered, while the other property, with 26 acres of land and considered an equestrian facility and revenue generating property sold for just under $600,000.