Central Alberta real estate months-of-inventory report

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Local real estate Months of Inventory (M.O.I.) rate should impact your real estate buying and selling decisions, and it’s important to understand how and why.

!IMPORTANT READ!

All 8 local communities see improved months-of-inventory (m.o.i.) due to higher spring sales and reasonable listing inventory numbers. Innisfail is experiencing the biggest struggle with very low sales. Prices are impacated when m.o.i. is too high. Realtors® in smaller markets need to be more diligent and advise sellers to only list if they really need to. A Realtor® blindly allowing everyone to list when the market it upside down will impact their market negatively.

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We are still in a buyers market throughout Central Ab. If you need to discuss the critical approach required to maximize home selling results and save the most money in 2019 call Blake King with Big Earth Realty (403) 350-7672.

High inventory will affect prices, however, on the other hand, if you’re a buyer you can take advantage of high inventory with lower prices. The right purchase approach with a well-studied Realtor® will get you prime prices on homes for sale.

If you don’t have to sell in a community with high inventory rates, don’t. Too many homes on the market will negatively impact home prices and make it even tougher for the market to rebound. Selling in a community save on real estatewith a high inventory will earn a sale price below the perceived value. Only the most competitively priced properties will sell in high inventory markets and the others will sit stale. “Sitting stale” can impact the sale of your home in the future too.

To encourage normal growth we need inventory rates below the 5-month range. Scroll down for this month’s inventory rates through Central Alberta.

When buying or selling property take into consideration the local inventory stats. When inventory levels are high prices stay flat or decrease. When inventory levels are low homes will sell faster and prices will increase.

  • (level 1) moderate buyers market  (4.3 – 6 months)
  • (level 2) steep buyers market  (6.1 – 8 months)
  • (level 3) advanced buyers market  (8.1 – 10.4 months)
  • (level 4) extreme buyers market  (10.5+ months)

Below are “single family detached” for sale inventory levels in Red Deer and towns through Central Alberta. The “average # of homes selling ea. month” is calculated using the last 60 day sales.

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

Nov 11, Dec 12, 2018, Jan 14, Feb 19, Mar 12, Apr 14, May 13, 2019 – click the link above for previous months m.o.i. numbers. 


Red Deer properties currently for sale – 414/361/342/361/379/392/446
avg # of homes selling ea. month – 68/51/36.5/51.5/63/78/85
M.O.I. currently for sale in Red Deer – 6.1/7.1/9.4/7/6/5/5.2 m.o.i.

  • (level 1) moderate buyers market  (4.3 – 6 months) ⬆︎
  • Not a terrible m.o.i. for mid-May.

Penhold properties currently for sale – 28/22/19/24/26/29/27
avg # of properties selling ea. month – 3.5/4/3.5/2/2/4.5/5
inventory currently for sale in Penhold – 8/5.5/12/13/6.4/5.4 m.o.i.

  • (level 1) moderate buyers market  (4.3 – 6 months) ⬆︎
  • Inventory cools with some extra sale too. Nice adjustment.

Sylvan Lake properties currently for sale 119/108/96/93/103/129/135
avg # of homes selling ea. month – 14/14/14.5/10.5/9.5/12.5/19
inv. currently for sale in Sylvan Lake – 8.5/7.7/6.6/9/11/10/7.1 m.o.i.

  • (level 2) steep buyers market  (6.1 – 8 months) ⬆︎
  • Too many listings likely but nice improvement.

Blackfalds properties currently for sale – 115/104/92/85/89/104/103
avg # of properties selling ea. month – 12/8.5/10/10.5/13/13/15.5
inventory currently for sale in Blackfalds – 9.6/12.2/9.2/8/6.8/8/6.6 m.o.i.

  • (level 2) steep buyers market  (6.1 – 8 months) ⬆︎
  • Sales improve and inventory stays in check…

Lacombe properties currently for sale – 93/75/70/74/79/96/107
avg # of properties selling ea. month – 13/9.5/6.5/7.5/10.5/11/13   
inventory currently for sale in Lacombe – 7.2/8/10.8/9.9/7.5/8.7/8.2 m.o.i.

  • (level 3) advanced buyers market  (8.1 – 10.4 months) ⬆︎
  • Lacombe has too many listings on the market for sales there to handle.

Innisfail properties currently for sale – 60/58/53/61/61/79/84
avg # of properties selling ea. month – 7.5/4.5/1/5.5/5.5/3.5/6
inventory currently for sale in Innisfail – 8/13/53/11/11/22/14 m.o.i.

  • (level 4) extreme buyers market  (10.5+ months) ⬆︎
  • Way too many homes for sale in Innisfail still, prices will decrease.

Ponoka properties currently for sale – 46/50/39/50/44/59/61
avg # of properties selling ea. month – 7.5/6/3/3.5/5/5.5/9
inventory currently for sale in Innisfail – 6.1/8.3/13/14/8.8/11/6.8 m.o.i.

  • (level 2) steep buyers market  (6.1 – 8 months) ⬆︎
  • Sales increase improves Ponoka, Ab’s m.o.i.

Stettler properties currently for sale – 46/40/37/36/33/34/42
avg # of properties selling ea. month – 8/4/2/3.5/4.5/5.5/7.5
inventory currently for sale in Stettler – 76/10/18.5/10.3/7.3/6.2/5.6 m.o.i.

  • (level 1) moderate buyers market  (4.3 – 6 months)
  • Much needed improvement in both sales and inventory

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

Even with high inventory, homes still sell, but the price is key **list slightly too high and your property will sit indefinitely if home prices aren’t increasing. Allowing your home to sit ‘for sale’ for months will affect its value now and down the road.

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The Months of Inventory (M.O.I.) in your real estate market might be one of the most important factors to consider when buying and/or selling your home and it’s often overlooked. To understand exactly how stats impact your purchase strategy and make you more money when selling, contact Blake King with Century 21 Advantage (403) 350-7672 or email hello@blakeking.ca

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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.