Red Deer & Central Ab real estate news. Months of Inventory (M.O.I.) rate

red_deer_inventory_of_homes_for_sale

Local real estate Months of Inventory (M.O.I.) rate should impact your real estate buying and selling decisions. Understand why before you buy or sell.

Stettler was the only city this past month with a notable correction. All of the other cities and towns either stayed even or witnessed higher months-of-inventory. We should see inventory numbers and sales decrease in each centre as we finish out the year. 

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 with a high inventory will earn a sale price below 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.

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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, and there aren’t enough homes for buyers, homes will sell faster and prices will increase.

  • (level 1) moderate buyers market  (5 – 6.5 months)
  • (level 2) steep buyers market  (6.6 – 9 months)
  • (level 3) advanced buyers market  (9.1 – 12.5 months)
  • (level 4) extreme buyers market  (13+ months)

Below are “single family detached” home inventory levels for Red Deer and towns through Central Alberta. The 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 accurate inventory rate because it was not representing actual and recent sales numbers.  Starting in June 2017 the average will be calculated over the past 60 days (2 months) to give a better snapshot of the current market.

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

Apr 16, May 15, June 12, July 16, Aug 14, Sept 11, Oct 11, Nov 11th, 2018 – click the link above for previous months m.o.i. numbers. 


Red Deer properties currently for sale – 440/500/523/529/513/504/470/414
avg # of homes selling ea. month – 65/78/90.5/96/87.5/81.5/75.5/68    
M.O.I. currently for sale in Red Deer – 6.8/6.4/5.8/5.5/5.9/6.2/6.2/6.1 months inv.

  • (level 1) moderate buyers market  (5 – 6.5 months)
  • inventory decrease as we approach December but so does sales.

Penhold properties currently for sale – 31/34/32/34/37/35/28/28
avg # of properties selling ea. month – 3/5/5.5/5.5/5.5/4/3/3.5                 
inventory currently for sale in Penhold – 10.3/6.8/5.8/6.2/6.7/8.8/9.3/8 months inv.

  • (level 2) steep buyers market  (6.6 – 9 months)
  • sales were a little higher but there is still too many homes for sale currently in Penhold

Sylvan Lake properties currently for sale – 146/167/175/167/151/136/123/119
avg # of homes selling ea. month – 21/21/18.5/15/20.5/21/15/14
inv. currently for sale in Sylvan Lake – 7/8/9.5/11/7.4/6.5/8.2/8.5 months inv.  

  • (level 2) steep buyers market  (6.6 – 9 months)
  • inventory dips but sale do too

Blackfalds properties currently for sale – 125/131/133/133/127/112/117/115
avg # of properties selling ea. month – 12/21.5/25.5/19.5/13/14 /14.5/12
inventory currently for sale in Blackfalds – 10.4/6.1/5.2/6.8/9.8/8/8/9.6 months inv.

  • (level 3) advanced buyers market  (9.1 – 12.5 months)
  • sales slow even more in Blackfalds

Lacombe properties currently for sale – 109/124/122/126/110/108/101/93
avg # of properties selling ea. month – 8.5/12/15.5/16/18/19/17/13     
inventory currently for sale in Lacombe – 13/10.3/8/7.9/6.1/5.7/5.9/7.2 months inv.

  • (level 2) steep buyers market  (6.6 – 9 months)
  • both sales and inventory dip

Innisfail properties currently for sale – 63/68/79/79/69/62/53/60
avg # of properties selling ea. month – 10.5/10/7.5/9.5/8.5/10/11/7.5   
inventory currently for sale in Innisfail – 6/6.8/10.5/8.3/8.1/6.2/4.8/8 months inv.

  • (level 2) steep buyers market  (6.6 – 9 months)
  • Innisfail market hit hard with more listings and slower sales

Ponoka properties currently for sale – 63/68/80/74/63/67/55/46
avg # of properties selling ea. month – 10.5/10/9.5/8/6.5/6/6/7.5 
inventory currently for sale in Innisfail – 6/6.8/8.4/9.3/9.7/11.2/9.2/6.1 months inv.

  • (level 1) moderate buyers market  (5 – 6.5 months)
  • An inventory correction but sale are still slow! 

Stettler properties currently for sale – 46/51/52/55/61/59/52/46
avg # of properties selling ea. month – 6/6.5/4/7/8/6.5/9/8     
inventory currently for sale in Stettler – 7.7/7.8/13/7.9/7.6/9.1/5.8/5.8 months inv.

  • (level 1) moderate buyers market  (5 – 6.5 months)
  • Inventory adjusts nicely to help keep m.o.i. decent 

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

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

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.