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.