Red Deer Real Estate Market Report in August
August sales in the Red Deer real estate market improved over July results, but were below last August when the market curiously changed from the norm, and picked up quicker than was expected.
127 Residential properties for sale in Red Deer found new owners this August compared to 113 in July, but sales were down 8.0% compared to sales in August of last year. The average sale price in the overall Red Deer market was $340,358, while the median sale price was $317,000, an increase of 6.4% compared to results in July. An equal number of properties sold above and below the median sale price in Red Deer. Those properties that sold during August this year were on the market for an average of 58 days, taking considerably longer to sell than during July and last year at this time. New listings in the overall Red Deer real estate market fell below new listings the month before by 14.5%.
Farm properties and acreages had positive activity during the month of August, with 5 farms selling in Red Deer County and 4 acreage properties.
Two uncut quarters, (coveted for the possibility of subdiving), found new owners, one with an additional 80 acres attached. One uncut quarter near Penhold was purchased for $575,000. This full quarter had no existing services hooked up. The other full quarter with an additional 80 acres sold for $600,000 with existing services present on the original farmstead site. Other sales included 2 quarters with one subdivision parcel already out, and averaged 153 acres each – one without services selling at $425,000 and one with a walkout modular (unfinished basement ) that sold at $540,000 near Bowden. One parcel offering 25 acres, set up for horses and an older home went for $370,000 West of Penhold, while a 5 acre parcel with a beautiful home and on pavement near Red Deer sold for $805,000.
Previous Red Deer Real Estate Market Reports: