Red Deer Real Estate – August 2010 Market Report
Red Deer real estate sales recorded significant decline during the final month of our Canadian Summer.
Sales reflected a decline in numbers that was recorded one month ago in our neighbouring major centres (Calgary and Edmonton) and that continued in those two markets during August as well. Red Deer homes sold in August this year numbered 94, compared to 163 last August and 154 in July this year. This represented a 42.3% and 39.0% decline respectively. New listings were marginally higher (0.4%) than one month ago, and 9.5% higher than last August. The median sale price in the overall Red Deer real estate market this August was $295,500, a 2.2% drop compared to July’s median, but 5.5% higher than last August. On average, Sellers realized 96.9% of their asking price this August, an improvement over July’s 94.8% negotiated price. Days to sell reduced from 52 for properties changing hands in July to 49 days to sell in August.
In Red Deer County, 8 acreage properties changed hands in August. 2 bare land parcels averaging 5 acres sold at an average price of $259,500. 3 acreages with fewer than 4 acres sold at a median sale price of $475,000 and 2 parcels averaging 18 acres changed hands, recording a median sale price of $445,000. All of the larger parcels featured older homes considered to be in need of some updating.
Previous Red Deer Real Estate Market Reports: