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Red Deer Real Estate – July 2010 Market Report

The Red Deer real estate market activity deviated from patterns of larger markets during July as sales outpaced listings coming to market.

Sales (154 properties) increased over the slower June results by 15.8%. While larger neighbouring markets (Calgary) recorded significant declines in market activity (by 42% compared to last July), the predicted decline in sales in the Red Deer real estate market recorded at 14.0% compared to last year at this same time.

New listings during July were 28.9% fewer than listings coming to market in June this year and 6.1% below the number of Red Deer homes for sale last July. The median list price in the Red Deer real estate market this July was $309,900 while the median selling price recorded at $302,000. Overall, Sellers settled for 94.8% of their asking prices. Average days on market was 52.

In Anders Park, Inglewood, Lancaster and Vanier Woods, 44 properties found new owners, an increased count compared the disappointing number in June by 37.5% and 22.2% higher than sales last July. The median sale price was $335,000. (An equal number of properties sold above and below the median sale price.) Average days to sell in these communities recorded as 48 (distorted somewhat by properties that were re-listed). On average, Sellers realized 99.4% of the asking price once that price triggered activity from Buyers.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.