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Red Deer Real Estate – October 2009 Market Report

Changes in the Red Deer real estate market in October this year reflected trends recorded in larger centers during the past few months – sales of homes increased while available homes 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 homes 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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