Have a look at these recent real estate price trend charts. The charts below show the average home sales price in Red Deer. One chart shows the trend over 5 years (red lines) and the other shows the trend (chart and data) over the last 12 months.
Some people will be surprised looking at these statistics because they foresaw prices “crashing” during this current oil and gas downturn. We probably won’t see major price increases in the Red Deer real estate in the near future but we won’t see a “crash.” At the very worst we will see a flat / stagnant market.
Interest rates are so low right now that anyone in a position, and with a need to buy, should understand they probably won’t find a better time. The interest rates are probably why the average price of homes in Red Deer, after a year of low oil, hit a 5 year high in August 2015…
We did see a dip in average price over Sept and Oct but then witnessed a slight jump over the last two month. I predict in 2016, even if the price of oil stays low, that caution will subside when people realize the sky isn’t falling.
I’ve heard from so many buyers waiting for real estate prices to drop. What if they don’t? Then you’ll be buying when prices are climbing (and the interest are possibly higher) waiting to long.
For more market information, market statistics and home buying or selling strategy and assistance contact Blake King with Century 21 Advantage (403) 350-7672 email@example.com