Red Deer Real Estate in March

Changes to mortgage regulations sparked an early jump into Spring in the Red Deer real estate market.

The Red Deer real estate market recorded a 43.7% increase in sales over February results and was 23.3% higher than sales of March 2010. In 2010, April was the month most affected by changes to mortgage regulations. 148 Red Deer homes for sale changed hands in March while 235 new listings came to market. New listings grew by 3.1% compared to last March but were 26.1% fewer than listings coming to market in March of 2010.

Average days to sell in the overall Red Deer real estate market recorded at 51 this March.

The median sale price recorded at $292,000, declining from March 2010 by 2.7%. On average, properties sold for 97.1% of the asking price.

The County market was busier in March than it has been for a long time.  17 properties sold at a median price of $495,000.

7 County residential properties sold, offering fewer than 5 acres, with the average lot being 2 acres. The median selling price of these properties was $600,000. 3 Parcels including 5 to 15 acres found new owners this March. The median sale price of these properties recorded at $435,000 as focus moved toward the size of the land included being more important than the age of the home. One parcel containing 50+ acres found new owners after a long time on the market. This property sold for sub $475,000 with the home in need of a lot of repairs. 4 bare land properties offering an average of 4 acres changed hands at a median price of $215,000. 2 Parcels of 160 acres and 147 acres respectively sold in the Elnora area at an average price of $260,000.