Red Deer Real Estate
The average home price in any market can look like a roller coaster from month to month, so to get a real feel for whether prices are improving or not we have to look a little deeper.
Each month at www.HomeScope.ca I compile the home price average in Central Alberta and view it from a few angles. Because each month’s average sale price can be skewed I like to also look at the 4-month running average and the 12-month running average to spot what’s happening (below). You can’t spot a trend looking at one month’s results.
This past month in August we saw a substantial average price dip but prior to that average 2019 prices were reasonably steady. Because of smooth results so far this year I think we’ll have to wait and see what happens in September to determine if August’s dip is significant.
I predict August’s price results will be more of a bump in the road with the Central Alberta real estate market’s inventory staying steady this year. Last weeks listing/sales comparison report for the Red Deer real estate market showed many more homes leaving the market than entering the market and I think this will be reflected in the months-of-inventory (m.o.i.) later this month.