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Red Deer Real Estate – September 2010 Market Report

Overall sales in the Red Deer real estate market increased in activity in September compared to August results as the fall season kicked in.

Neighbouring large markets experienced steep decline in sales activity compared to last year due to unpredicted higher volumes during September 2009. The Red Deer real estate market recorded an expected slowdown last fall, so did not experience the same level of year-over-year decrease in September activity. Sales increased over August results by 26.6% with 119 Red Deer homes finding new owners, and were only down from last September sales by 3 units. The average number of days to sell was 57 for properties changing hands this September. The median sale price for homes for sale in Red Deer this September was $295,000, on par with August’s median but 1.6% below last September. Sellers realized 96.8% of their asking prices at the time of sale. New listings declined by 18.6% compared to Red Deer homes for sale the month before.

In Anders Park, Inglewood, Lancaster and Vanier Woods, new listings declined by 22.4% compared to August and sales were 75.0% higher than the month before and 20.0% higher than last September. The average number of days to sell, for properties changing hands in September, was 61 and the median sale price in these communities was $312,000, a 5.4% decline compared to last year at this same time. Sellers realized 96.9% of the asking price at time of sale.

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