Local property inventory rates always impact buying and selling real estate.

realtor tracking the red deer real estate market

Know your market before selling and or buying real estate.

Only Sylvan Lake and Ponoka see rate improvement.  A large rate jump in Penhold  and Lacombe due to very low sales.  It would be nice to see inventory rates in the low 3 month range for normal growth. Scroll down for this month’s inventory rates in Central Alberta communities.

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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. Using a 12 month average wasn’t portraying an an accurate inventory rate because it was not accurately representing recent sales numbers.  Starting June 2017 the average will be calculated over 90 days to give a better snapshot of the current market.

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

Aug 12, Sept 11, Oct 16, Nov 14, 2017  – click link above for previous months numbers. 

Red Deer properties currently for sale – 451/438/414/389
avg # of homes selling ea. month – 97/94.7/96.3/88          
inventory currently for sale in Red Deer – 4.7/4.6/4.3/4.4 months inv.  
Inventory # down but sale slow more.

Penhold properties currently for sale – 24/24/25/23
avg # of properties selling ea. month – 5/4/2.7/1.7                   
inventory currently for sale in Penhold – 4.8/6/9.3/13.5 months inv.
Increase attributed to very low sales over last few months.

Sylvan Lake properties currently for sale – 153/154/139/129
avg # of homes selling ea. month – 22/23/21/19.7        
inv. currently for sale in Sylvan Lake – 7/6.7/6.6/6.5 months inv.   
Listings and sales slow keeping inventory even.

Blackfalds properties currently for sale – 102/107/98/103
avg # of properties selling ea. month – 23.7/20/17/14.7    
inventory currently for sale in Blackfalds – 4.3/5.4/5.8/7 months inv.    
Listings up a bit sales down a chunk…

Lacombe properties currently for sale – 95/96/95/90
avg # of properties selling ea. month – 
17.3/18/11.3/8.3       
inventory currently for sale in Lacombe – 5.5/5.3/8.4/10.8 months inv.     
Sales decrease more again over last 90 days listings correct a little

Innisfail properties currently for sale – 68/67/69/57
avg # of properties selling ea. month – 7/6.7/5.7/4.3    
inventory currently for sale in Innisfail – 9.7/10/12/13 months inv.   
Inventory rate keeps climbing in Innisfail, prices could be affected.

Ponoka properties currently for sale – 84/76/72/63
avg # of properties selling ea. month – 8/8/8.7/8.3      
inventory currently for sale in Ponoka – 10.5/9.5/8.3/7.6 months inv.     
Lower inventory numbers help Ponoka, Alberta.

Rimbey properties currently for sale – 35/26/22/21
avg # of properties selling ea. month – 4/3/3/2.7           
inventory currently for sale in Rimbey – 9/8.7/7.3/7.8 months inv.
Sales slow in Rimbey too.

Stettler properties currently for sale – 33/35/40/35
avg # of properties selling ea. month – 8.3/8/6.3/5.3           
inventory currently for sale in Stettler – 4/4.4/6.3/6.6 months inv.   

The property inventory rate in the market you are planning to buy or sell in is one of the most important factors to consider but 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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