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Market Update - January 15, 2016

Posted on January 23, 2016 at 1:55 PM Comments comments (28451)

Red Deer sales maintained a good pace starting out the new year, actually a little higher than the same period in 2014. The pending sales count indicates that we could finish up the month as almost strong as last year too. The number of active listings is considerably higher than it was last January and is a bit of a concern. An over-supply puts downward pressure on prices.

 

A bigger concern is that consumer confidence may be hurt by the constant barrage of tales of doom ...

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October 15, 2015 - Market Update

Posted on November 2, 2015 at 4:35 PM Comments comments (1)

The question we are asked most often lately is “How is the market? Are prices going down? Where is the market going? To answer the first question, the market so far this year has been very normal when compared to the last five years. Answers to the other two questions are a little more difficult.

There are two major components that make up every real estate market – Supply (sellers) and Demand (buyers). There are many factors that influence those two components, but the...

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August 30, 2015 - Market Update

Posted on September 17, 2015 at 11:20 AM Comments comments (1)

Sales in August slipped while the number of active listings increased slightly.  It is likely that we are now seeing the first signs of low oil prices in the housing market.  Historically, slower sales and higher inventory levels in Alberta have occurred about a year after a slowdown in the energy industry.  

The Red Deer market has finally moved into balance after giving sellers the advantage of several months.  Extremely low interest rates have been influential in ...

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February 5, 2015 - Market Update

Posted on February 18, 2015 at 2:25 PM Comments comments (21)

Red Deer January sales are down from the same period last year, something we certainly expected considering the current situation with the oil prices. We did start the year with low inventory levels and while they are up some, we are still very close to a balanced market. The good news is, we are starting off this month with a better than average number of pending sales, which should translate into a good February.

The media is mostly full of doom and gloom about our economy, but there ...

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January 15, 2014 - Market Update

Posted on February 18, 2015 at 2:20 PM Comments comments (1)

Red Deer Market Update – sales in the first two weeks of the New Year are off from the same time in December but close to the first two weeks of January 2014. The number of active listings is slightly higher than it was a year ago, but normal for this time of year.

We are consistently asked how oil prices will affect the housing market. House prices, like oil and everything else in the world that is sold in an open market, are dictated by supply and demand. The reason oil price...

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January 5, 2015 - Market Update

Posted on February 18, 2015 at 2:20 PM Comments comments (1)

Red Deer residential sales end of the year on a very positive note with annual sales up to up more than 10% over last year’s pace. For the first time ever, there were at least 100 sales and every month of the year, although we didn’t quite make the total sales achieved in 2007 (2240). New homebuilders obviously did a good job this year as inventories pretty well kept pace and are in good shape going into the New Year.

Sales in all of central Alberta were up just over 13% fro...

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December 19, 2014 - Market Update

Posted on February 18, 2015 at 2:15 PM Comments comments (962)

Sales in the first two weeks of December were almost as good as the same time in November while the number of active listings dropped again, but stayed above last year’s level. Activity is strong at the high end of the price spectrum which is a little unusual at this time of year. The number of pending sales suggests we could end the year with above average sales for December. It’s too early to tell what impact falling oil prices will have on the market, but unless they drop dr...

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December 5, 2014 - Market Update

Posted on February 18, 2015 at 2:15 PM Comments comments (1)

In Red Deer November sales dropped 30% from October’s and it appears that the winter market has finally appeared along with the winter weather. While the number of active listings fell again the month, it wasn’t enough to offset the drop in sales pushing the market into balance for the first time since early this year. There’s no need to panic though, this situation is typical for this time of year.

At this time of year we are often asked for a forecast for the new y...

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November 15, 2014 - Market Update

Posted on November 22, 2014 at 12:55 AM

Red Deer Market Update – The market is moving back toward normal for this time of year on both the supply and demand sides of the spectrum although the number of pending sales suggests we could finish the month stronger than last year. There appears to be ample supply to satisfy buyers in every price range which suggests the market is balanced. While there is some concern over lower oil prices, many experts believe our economy will remain strong at least f...

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