When you work in real estate you get a lot of question regarding home prices. Have prices gone down since this oil prices dropped – will prices go down further – when will prices increase? Some of the questions are based on negative media “articles” and some are because buyers and sellers want to gauge the market before to make a move.
I think it’s important to post pricing information for Central Albertans here at HomeScope.ca so they see where we sit from month to month. Inventory rates, sales rates and price trends are important variables to consider when entering the real estate market
Average sale price numbers can vary depending what sample you look at. I think the best way to see what’s happened in Central Ab is to take the average across all homes sold and compare them year to year. The chart on the left shows displays the price trend of residential properties sold in Central Alberta from January 2007 to 2017.
You see fluctuations charted but you’ll also notice prices have increased since 2007. We witnessed some momentum from 2011 to 2014, a flattening in 2015 and a dip in 2016. What will happen this year?