There’s not much to report as far as home prices go in Central Alberta for November 2018. After watching prices increase gradually at the start of the year, the last half of the year has been less dramatic.
If we look closely at November’s data we see a slight increase in sold prices but the increase is insignificant considering 20% fewer homes sold in November than October. It would only take a few higher prices home sales to shift the average slightly as it did.
What do we have to look forward to through the end of the year and in 2019? The average home sale price will remain around the 290k likely through Dec and January with no real shift in 2019. If I was to predict price direction in 2019 I would predict we see the decrease witnessed in 2018 turn around. If the year-end average shows a 5% decrease in sale price, and it probably will, I think we’ll see it return by the end of 2019.
Check back at the end of December to see what happens with the year-end data.