Red Deer Real Estate activity during the month of March recorded increased listings and increased sales compared to February results, while sales fell slightly compared to March 2009.
Numbers of Red Deer homes that came to market in March this year were 318 compared to new listings in February of 239 and new listings in March 2009 of 283. Typically expected at this time of year, new listings in the Red Deer real estate market grew by 33.1% compared to the month before. Sales of homes in Red Deer increased by 5.3% compared to Red Deer homes changing hands in February this year, but were 2.4% fewer than sales recorded last March. The overall median sale price in the Red Deer real estate market during March, 2010, recorded at $300,000, an increase of 5.3% compared to February this year and 7.9% higher than during March last year. Average days to sell were recorded as 44.
In Anders Park, Inglewood, Lancaster and Vanier Woods, new listings grew by 2.7% compared to last year at this time, while numbers of sales increased by 20.8%. Sales recorded during March were 2 units fewer than sales in February this year. Average days to sell recorded at 48, and Sellers realized 98.0% of their asking price.
Red Deer Real Estate – February 2010 Market Report
February activity in the Red Deer real estate market proved to be the herald expected of a busy Spring market.
239 Red Deer homes came to market in February, 8.4% fewer than new listings during the month of January and 13.4% fewer than new listings offered in February of last year. Red Deer real estate activity reported 114 sales compared to the 85 Red Deer homes that sold the month before, an increase of 34.1% higher than January sales. The Red Deer listings-to-sales ratio in February was 4.9:1. The average number of days on market for properties changing hands during February was 48. The median sale price recorded at $285,000 for Red Deer homes compared to $284,500 in January and $290,000 last February. Sellers accomplished 99.7% of list price on average during February this year.
Real estate in Red Deer County reported 5 acreage properties finding new owners during the month of February. 2 such sales featured fewer than 3 acres, offering a feeling of country living in suburban houses. One such property sold for $485,000 and the other sold for $850,000. Two other Red Deer County properties each featured horse setups with 5-6 acres of land. Each of these properties found new owners in the low $400K range. A 25+ acre parcel of bare land sold in February at a price of $292,000.
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.
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