January Red Deer real estate market …

Spring activity in the Red Deer real estate market will come early with the announcement of pending changes to mortgage regulation.

Red Deer homes for sale recorded 88 properties successfully finding new owners during January this year. While this number is 10.2% below December figures, there are currently 35 properties listed as “pending”. This means an additional 35 properties have been the subject of accepted offers during January. Buyers are currently completing their due diligence to ensure the properties are what they hope them to be. Once removal of conditions happens, properties will be recorded as sold. The median sale price in January was $283,000 in the overall Red Deer real estate market. Average days to sell was 64.

New listings in the Red Deer real estate market almost doubled those in December, but were below last January’s new listings by 16.9%.

Only one property offering country acreage sold during the month of January. This property offered 20+ acres of land and had lingered on the market for a lengthy period of time. While offering a beautiful setting, the house needed a lot of work and some outbuildings were considered costly tear downs only. This property, 30 minutes from Red Deer, sold for under $400,000.