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Red Deer Real Estate in October, A Month to be Thankful or Spooked?

11-20-09
Patrick Galesloot
Patrick Galesloot: Real Estate Sales Person in Red Deer, AB
  • view my blog
  • Office: (403) 346-0021
  • Mobile: (403) 357-9142
  • Secondary: (888) 346-5521

October in Red Deer is a weather roller coaster and a busy time for many. We get snow, rain, and sometimes both. We have family gatherings surrounding Thanksgiving, and parties at the end of the month surrounding Halloween. October is a fun month and diverse month.

In Red Deer real estate, October 2009 was stronger than October 2008!

The number of sales reported to the Central Alberta REALTORS® Association for the Red Deer MLS® was 151 properties sold up from 2008's sales number 128.

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 2008 100& Under 100-150 150-200 200-250 250-300 300-350 350-400 400-450 450-500 500-550 550-600 600-700 700 + Total Avg. Pr.

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 OCT 6 2 4 27 40 20 15 5 3 1 1 2 2 128 $297,451

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 Information based on Red Deer Real Estate Board MLS Stats 2008 only.

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 2009 100& Under 100-150 150-200 200-250 250-300 300-350 350-400 400-450 450-500 500-550 550-600 600-700 700+ Total Avg. Pr.

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 OCT 2 4 17 32 34 24 18 12 2 1 1 2 2 151 $293,268

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 Information based on Red Deer Real Estate Board MLS Stats 2009 only.

Where were sales up? As noted in the table above sales were most notably higher in the $150,000-$200,000 price range (which contributed to a lower average price '08 vs '09) and the $400,000 - $450,000 price range.

A pretty solid month of sales for October 2009 real estate. On a week by week basis we also see consistent results.

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 Weekly Stats # Listings # Sales # Pending Sales Active Single Family Listings Active Apartment Condo Listings Total Active

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 Sept.28-Oct.4 66 30 28 354 82 588

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 Oct.5-Oct.11 79 30 32 356 94 604

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 Oct.12-Oct.18 40 37 20 351 89 588

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 Oct.19-Oct.25 49 31 34 343 89 585

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 Oct. 26-Nov. 1 52 38 18 344 72 542

On a weekly basis we ended the month with a sharp decrease in inventory. This is not unusual to have many listings come off. We may see that number return this week and next as some sellers contracts expired or were cancelled. The number of new lists as noted above have been consistent for the most part during October.

The bottom line:

For buyers, there continues to be ample selection and affordable rates. The average price remains strong and stable. You can buy today with confidence that the market is stable and the largest risk buyers face today is in the potential increase of interest rates in the future.

For sellers, homes are selling at a good solid pace. If you are priced competively demonstrating value to buyers a sale is in your future. The same solid price and absorption rate that demonstrate confidence to buyers also tells sellers that the equity built up over time ion their home is more secure today than the past. The sales rate of homes selling however means that you must be market price savvy and in top showing condition.

October was a month to be thankful for in Red Deer real estate terms.

  • Sales up 17.9% over 2008
  • October Absorption Rate is 14 - 18 weeks
  • The Sales to New Listings Ratio is between 60% and 70%

Your Friend in Real Estate,

Patrick Galesloot

Follow Patrick on Twitter: @pgalesloot

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Libertas Property Management Expands into Red Deer

09-20-09
Keenan Tameling
Keenan Tameling: Real Estate - Other in Calgary, AB
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  • Office: (866) 478-6493 xtollf
  • Secondary: (780) 478-6492

Welcome to Libertas Property Management Inc.!

We are now managing in Red Deer!

Congratulations on taking the first step towards a more stress free and relaxing life thanks to Libertas Property Management Inc. Let us step in and take over the worry and hassle of the day-to-day management of your property. Our goal is to provide you with Impectable Property Management.

If you want more information about our company please feel free to call or email us.

Sincerely,

The Libertas Team!

Toll Free phone. 1. 866. 478. 6493 Toll Free fax. 1. 866. 406. 2892 inforeddeer@libertasholdings.com

Calgary and Red Deer

p. 403. 452. 4663

f. 403. 452. 4439

infocalgary@libertasholdings.com

inforeddeer@libertasholdings.com

Mailing Address: Suite 162 440 - 10816 Macleod Trail SE Calgary, AB T2J 5N8

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Blog_tag

Whats the Red Deer market doing?

08-06-09
KEN DEVOE - Century 21
KEN DEVOE - Century 21 : Real Estate Agent in Red Deer, AB
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  • Mobile: (403) 350-1192

One of the questions we hear is Whats the market doing? As most of you know our real estate market is like any real estate market. Its always volatile. It goes up and goes down, depending on the season and economic state. Right now we are good. Lots of sales and lots of choice. Last month in Red Deer there were 111 sales of single family homes. Thats just homes, no condos, townhouses or mobiles with an average sale price of $339,495. I was watching the news from Edmonton last night and their report had the average price in Edmonton last month at $374,000. Right now there is 319 active house listings in Red Deer, so roughly about 1 in 3 will sell. Lots of sales, lots of choice and lower prices over the past few years. Over the past two years the range in avg sales price per month has fluctuated from $297,000 to $368,000. there are always reasons why one month might be higher, such as one month we might have 10 houses over $500k sell and the next we have none, so that will always have repercussions on the avg sale price but over time we have seen prices go up. In the past 3 years we have seen the avg sale price go from $308K to $339K with 100 sales in July 2006 to 111 sales this past July. The market is healthy, houses sell that are priced in todays market and are in show condition.

Thinking of buying a house in Red Deer? Now is the time. Prices are stable, interest rates are at a great 4.19% and choice is amazing.

Anywhere in Central Alberta is a wise choice. Always something happening, always somewhere to go in a short drive time.

Thinking of moving? Relocating to Central Alberta? Call Ken Devoe at Century 21 Advantage with any questions you may have.

Cell 403-350-1192

Email - ken.devoe@century21.ca

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4th highest February for Red Deer sales volume

03-17-09
Patrick Galesloot
Patrick Galesloot: Real Estate Sales Person in Red Deer, AB
  • view my blog
  • Office: (403) 346-0021
  • Mobile: (403) 357-9142
  • Secondary: (888) 346-5521
Normal Market may be an applicable descriptor for the month of February. February 2009 recorded the 4th highest sales volume for single family homes when comparing to previous February sales volumes. Recent years February Sales Volume:
Single Family Sales February
2009 87
2008 115
2007 96
2006 122
2005 82
2004 84
2003 49
2002 64
2001 63
2000 57
Looking back at the last19 years of sales volume for February Single Family Homes. February 2009 was a pretty darn good month. Your Friend in Real Estate Patrick Galesloot
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Blog_tag

Red Deer Real Estate, Average Price increases 25.29% in 2009

03-09-09
Patrick Galesloot
Patrick Galesloot: Real Estate Sales Person in Red Deer, AB
  • view my blog
  • Office: (403) 346-0021
  • Mobile: (403) 357-9142
  • Secondary: (888) 346-5521
February is over and March is coming in like a Lion today allowing time to catch up on stats and planning. Sales increased as did the volume of listings from the previous week as indicated above. Sales activity increased by 28% from the week before. Expectations are that March will have more positive sales growth with the reduction in interest rates. Now lets hope mother nature cooperates to provide conditions favorable to viewing homes. February ended in Red Deer, and it ended on a positive note. After experiencing a few months of sluggish sales we experienced an increase over January. The bulk of the activity is occurring in the $250 - $350,000 range. The activity that occurred in January in that range probably pushed the wave up into higher ranges for February. People moving up from that starter to the larger home. I believe now is a great time to be buying real estate. Buyers have selection, negotiating power, and the lowest interest rates in decades. If you have secure employment and are in the market to buy, then why wait? The average sale price in February increased by 25.29% over January from $239,821 to $300,465. Total sales Volume increased from 62 sales in Red Deer to 113. An increase of 82.26%. The question is for those of that were waiting for the "bottom", has that passed or was February an anomaly? Just like knowing when the peak is, we don't know where the bottom is (was) until it has passed us. Real Estate is LOCAL. The numbers are different in Blackfalds than Red Deer, Red Deer is different than Calgary and Alberta is different than a national average. Before you make a real estate decision talk to your Realtor, they should have these numbers for you. Not all do however, this tends to separate the great Realtors from average or even the "part timers". Do you remember 2005? It may surprise you but 2005 was a record year before 2006, 2007, 2008 for sales. The first three months looked like this: The headlines and interest rates announcements looked like: 18 October 2005 Bank of Canada raises overnight rate target by 1/4 percentage point to 3 per cent While the Oil and Gas market today is in decline rather than incline, mortgage money is plentiful and at more affordable rates than 4 years ago. Should we be hiding from the economy and the economic outlook or doing what we can to change it? Your Friend in Real Estate, Patrick Galesloot
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