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Red Deer Real Estate Market Update


Blog by Amanda Blake | February 13th, 2020


LIME GREEN REALTY'S JANUARY 2020 MARKET UPDATE 

There were a total of 67 sales in January 2020 for all single family, half duplex, townhouse and condo properties in Red Deer, which is a slight decrease compared to January 2019 where it was 75, and January 2018 which was at 87.

Red Deer Real Estate Market Stats - January 2020

There were 523 active and conditional listings as of February 1 2020, which has increased nearly 10% from where it was at the beginning of the year, leaving over 7 months worth of inventory on the market.


When compared to this time last year, the inventory was sitting at 572 in February 2019, so there has been a 9% decrease in the amount of inventory and an 11% decrease in the amount of sales.


The average days on the market for Red Deer is currently sitting at 104 days. This is a slight decrease from last month which was 109 days.


Lime Green Realty's average days on the market for sales in 2020 is at 45 days for all single family properties we have sold in Central Alberta!


We have had 5 very happy seller's this past month that were able to receive offers and be conditionally sold.. one within only 2 days of being listed and sold in only 15 days!


Timing may be key here as a seller. With the lower amount of inventory, seller's are having a bit of an advantage with there being less selection for buyers to choose from.


On that note, if you are hoping to sell in the next 3-6 months, now may be the time to start the process, before the level of inventory increases even more, and your amount of competition is much greater. In spring of 2019, our level of inventory increased by over 30% in less than 3 weeks, so timing may be a very important factor to consider, and since there appears to be a good volume of buyers, you may want to beat the spring rush in order to capture a buyer.


Also remember when buying and selling in the same market pricing is all relative. If you sell low, you buy low. If you sell high, you will buy high. So for those of you already in the market, now could be the ideal time to upgrade and save on your new investment!


With the advantages available to buyer’s right now, such as lower prices, low interest rates, and the new Home Buyer’s Plan that the federal government recently launched, if you are considering getting into the market, now is a great time to be purchasing!

LIME GREEN REALTY’S PERFORMANCE

1. Lime Green Realty has been the #1 Listing Sales Agent in Central Alberta for the past 8 years!

2. Lime Green Realty’s Average Sale Price to List Price Ratio is 97%. Compared to the board average of 96%, which can work out to a savings of over $10,000!

3. Lime Green Realty’s Average Days On Market in Central Alberta (for all single family, half duplexes, townhouses and condos) is currently sitting at 45 days. Compared to the board’s average which is 104.

4. Lime Green Realty has an 83% success rate in our properties selling compared to the Boards average which is 50%.

5. Since Lime Green Realty opened our doors in 2009, we have saved our seller’s nearly $5Million in commissions and have put over $1Million back in our buyer’s pocket after purchasing a home through us. This is a savings of over $6Million in the past 10 years!

Contact us if you are thinking of making a move in 2020 and we would be happy to discuss your options!