Updated MLS inventory rate report for Central Alberta.

realtor tracking the red deer real estate market

It would be nice to see inventory rates in the low 3 month range to see some normal growth. However the Central Alberta market has remained rather stable considering all that’s happened the last 2 years. I think we should see some positive reaction over the next 12 months.

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Even with high inventory, homes still sell, but price is key **list slightly too high and your property can sit for months. Allowing your home to sit for sale for months will effect sales results now and down the road.

When buying or selling property YOU HAVE TO CONSIDER the local inventory numbers. When inventory levels are high, typically prices stay stagnant or decrease. When inventory levels are low, and there aren’t enough homes for buyers, homes will sell faster and at higher prices.

Below are “single family detached” home inventory levels for Red Deer and some towns in Central Alberta. Average number of properties selling was calculated from the last 12 months of sales prior to June 2017.  Starting June 2017 the average will be calculated over 90 days to better represent any trending.

Here is a link to previous inventory numbers in Red Deer and area.

Feb 14, 2017, March 15, Apr 11, May 15, June 12, July 23, Aug 12, Sept 11, 2017  – click link above for previous months numbers. 

Red Deer properties currently for sale – 271/336/378/396/465/464/451/438
avg # of homes selling ea. month – 88.5/83.6/82.8/80.4/93/101/97/94.7          
inventory currently for sale in Red Deer – 3.2/4/4.2/4.9/5.3/4.6/4.7/4.6 months inv.  
Stabilizing around 4.6, lower inventory would help

Penhold properties currently for sale – 27/27/31/28/24/26/24/24
avg # of properties selling ea. month – 5/5.1/4.6/4.8/4.3/5/5/4                   
inventory currently for sale in Penhold – 5.4/5.3/6.7/5.8/5.6/5.2/4.8/4.8 months inv.  

Sylvan Lake properties currently for sale – 119/118/134/154/169/155/153/154
avg # of homes selling ea. month – 16.6/17/17.4/17.4/19.3/21/22/23        
inv. currently for sale in Sylvan Lake – 7.2/6.9/7.7/8.8/8.8/7.4/7/6.7 months inv.   
Still high but heading in the right direction

Blackfalds properties currently for sale – 80/89/91/101/105/99/102/107
avg # of properties selling ea. month – 15.4/15.3/15.3/15.4/22/23/23.7/20    
inventory currently for sale in Blackfalds – 5/5.8/5.9/6.6/4.8/4.2/4.3/5.4 months inv.    
An increase won’t help this market, inventory number up, sales down 🙁

Lacombe properties currently for sale – 63/74/89/101/104/100/95/96
avg # of properties selling ea. month –
13.4/12.8/13/12.5/13.3/17/17.3/18       
inventory currently for sale in Lacombe – 4.7/5.8/7/8/7.8/5.8/5.5/5.3 months inv.     
Inventory total corrects nicely

Innisfail properties currently for sale – 48/48/53/67/72/67/68/67
avg # of properties selling ea. month – 6.8/7.1/7.8/7.6/7.7/6.7/7/6.7     
inventory currently for sale in Innisfail – 7/6.8/6.8/8.8/9.4/10/9.7/10 months inv.   
Something has to change or prices with drop.

Ponoka properties currently for sale – 38/49/60/80/85/90/84/76
avg # of properties selling ea. month – 7.6/7.3/6.8/6/6/7.3/8/8        
inventory currently for sale in Ponoka – 5/6.7/8.8/12.6/14/12/10.5/9.5 months inv.    
Inventory numbers way too high, priced could be affected

Rimbey properties currently for sale – 16/17/21/29/32/35/35/26
avg # of properties selling ea. month – 1.8/1.9/2/2.2/2/2/4/3           
inventory currently for sale in Rimbey – 8.9/8.9/10.5/13.2/16/17/9/8.7 months inv.
Listing numbers are in better shape, lower.

Stettler properties currently for sale – 35/31/39/44/45/40/33/35
avg # of properties selling ea. month – 6.4/6.1/5.6/5.4/6/6.7/8.3/8             
inventory currently for sale in Stettler – 5.5/5.1/7/8.1/7.5/6/4/4.4 months inv.   
Higher sale this summer has helped Stettler’s rate!

Inventory rates in the market you’re planning to buy a home are one of the most important factors to consider and are often overlooked. To understand exactly how statistics affect your purchase strategy and how to use them to save money when buying and make money when selling contact Blake King with Century 21 Advantage (403) 350-7672 or email hello@blakeking.ca

Here is a link to previous inventory numbers in Red Deer and area.

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About the Author

Blake King

Having lived in Red Deer my entire life and having experience in many avenues of real estate I offer enormous value to my clients.

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