I reported last month how real estate sales in Red Deer were up 6 of the last 7 months and how a trend like that is good news. last month sales (August) were lower than 2018 but it’s hard to say why. August seems to be the most inconsistent month for real estate sales… at least in Red Deer.
August 2018 sales are lower than August 2017 but higher than 2016. August seems to be an inconsistent month for sales and to make more sense of the decrease this year we should look closer at the chart above. Most years August sales are lower than the month prior, but 2017 sale in August were unusually high. Most of the time August sales decrease through May, June and July. In 2018 we noticed August sales outperform July but last years unusually high sales in August paled this year in comparison. If in 2017 sales followed the same pattern as the 3 years prior sales numbers this year in August would appear better.
One thing we’ve learned from tracking sales numbers, average sale price and inventory levels each month is some months can be completely off kilter and it’s just how things go sometimes. However, even with the weirdness this year we have to remember, sales are up as a whole in 2018 and that’s a nice change for the Red Deer market.
Real Estate sales have declined each year since a peak in 2014. In 2015 they decreased 16%. In 2016 sale decreased by 8%. In 2017 we witnessed another decrease of 7% but now in 2018 sales are up 1%. I know that’s only a marginal increase but it is better than sale decreasing for a fourth year.
With an increase of only 1%, it will be interesting to watch what happens through the rest of the year. Keep checking back.