85 Properties found new owners in Red Deer during the first month of the New Year, remaining consistent with numbers recorded the month before, but 37% higher than sales last January.
Average days to sell for those properties changing hands in January was 57 compared to 68 last year at this time. The median sale price of Red Deer homes this January was $284,500 compared to $265,000 last January, an increase of 7.4%.
MLS real estate activity seasonally increased over December’s new listings. 261 Red Deer homes came to market in January compared to 267 in January 2009 and 119 in December 2009. Many Sellers wanted a jump on what is anticipated to be a better Spring market by listing early.
Anders Park, Inglewood, Lancaster and Vanier Woods were responsible for 22.2% of new listings and 22.4% of sales recorded in Red Deer this January. 58 new homes came to market in our communities bringing total active listings to 100. 19 homes found new owners compared to 13 last January. The median sale price in our areas registered at $300,000 during the first month of the New Year and the average days to sell was 62.
The graph below depicts market trends as they unfolded from 2006 through to the end of December 2009. Each set of bars represent one month and the dates below refers to quarterly calendar points in each year.
The price fluctuations throughout 2009 don't so much represent value of properties bouncing up and down as it demonstrates the variation of demand different property ranges experienced from month to month. Overall the market finished up and solid in the last half of 2009 compared to the last half of 2008.
Using past data to predict future trends is a fools game but I suspect the graph we see next year will look smoother regardless of how much real estate values change.
Red bars represent the number of sales each month, yellow bars represent listings coming to market during the month, and the purple line represents the median sale price. An equal number of properties sold below and above the median sale price each month.
November’s Red Deer real estate activity demonstrated the same results recorded in neighbouring major markets – sales outpaced listings.
While lower than sales in October (seasonally expected), November sales were 34% higher than results last year for this same month. New listings declined from new listings in October by 5.1% and were 2.0% higher than new listings last year. The city-wide median sale price ($305,000) was 8.9% higher than October for all market segments, and 7.4% higher than the median sale price last November. Average days on market before sale recorded at 47.
In our communities both sales and listings increased over one month ago and over last November reported numbers. Sales increased by 10.7% compared to October results and were 6.9% higher than last November. The median selling price in Anders Park, Inglewood, Lancaster and Vanier Woods was $324,000, 4.5% higher than last year at this same time, but 13.6% below the median reported one month ago. An equal number of properties sold above and below this median price.
The average sq ft of properties changing hands in November was 1302 and sellers realized $261 per sq ft in the single family market segment. Average days before sale numbered 40.
Changes in the Red Deer real estate market in October this year reflected trends recorded in larger centers during the past few months – sales increased while available properties declined.
Overall listings declined by 19.9% compared to listings offered to buyers the month before, while sales increased over those recorded in September by 23.8%. The average numbers of days on market prior to successful sale numbered 48 for those properties changing hands in October. The median sale price for Red Deer homes finding new owners registered at $280,000 this October, 6.6% lower than in September. An equal number of properties sold below and above this market indicator. On average, houses in Red Deer that sold during the month of October offered 1191 sq ft, with the average price broken down as $246 per sq ft. Sellers realized 97.4% of their asking price.
In the acreage market, 11 properties changed hands, 6 of which offered 6 acres or less. 5 properties offered more than 10 acres, with 4 of these considered as possible working farmss. One property offering 77 acres sold for $530,000 while the largest parcel with 138 acres found new owners at $495,000. The median sale price in the acreage market during October was $575,000. Properties that sold for higher prices had large homes with parcels of 2 acres or less.
Whether buying or selling, you can always be in control of the terms and conditions you wish to accept.
You never need to worry about a deal not addressing your concerns – simply address them in your side of negotiations. The smartest thing to do is to position yourself so that you can enter negotiations in the most advantageous position. That means being alone out front instead of where the crowds seem to hang out.
Example: people (the crowds) tend to look for a property they’d like to buy before they sell the one they have. When you place an offer subject to sale of your existing home, the offer has to be pretty good in order for that Seller to accept it. Remember – you’ve just established a price point in his/her mind. If someone comes along with another offer that doesn’t have a subject condition, you’ve set up a scenario that increases the possibility for that same Seller to accept something lower than your offer. So – you probably offer higher than you normally would to get the Seller to accept your offer subject to sale of your home. Conversely, when you put your own property on the market, you’re already emotionally attached to another property which makes you more vulnerable to selling lower than you would have if you hadn’t already found a property you want.
On the other hand, if you place your property up for sale before you find something you want to buy, and an offer comes in, chances are you’re feeling pretty confident in the negotiating process because you’re not that motivated to move anyway. So you’ll hang a little tougher to get your price. When you do get your price, you can always come to an agreement subject to you finding a property suitable at an acceptable price to you. You set a time frame on when you will look for that home. I recommend 7-10 days. Picture this: now you are also in the driver’s seat when buying. The Seller of any interesting property knows you’ve sold your home and you are going to buy something – maybe even that same day. Guess who has the upper hand in that scenario? Right! You do!
Now you’re in the position of control. Take it.
Call me. I have lots of other great strategies too. We’ll work together to accomplish your goals.
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