Everyone I talked to over the last few months predicted sales would slow with Red Deer real estate. And… wait for it…
Single family home sales in Red Deer in January 2016 were almost exactly the same the January 2015! 53 single family homes were sold in January 2015 and 52 were sold in January of this year.
It’s very good news that sales numbers are at least the same as last year. With oil prices lower than any point last year it’s good our economy is still ticking along.
On an even better note… maybe… there is some good news. Median sales prices of single family units (right) are actually higher this January over last ($308,000 over $300,000). Note: sales numbers (single family homes sold) were down approx 14% last year in Red Deer but median price was down only .02%.
With layoffs still pending it will be interesting to see what the year brings. Last year saw lower sales but no drop in prices. This year has started out with higher prices (+2.6%) and almost equal sales numbers. That sounds better than expected, we’ll see where it goes.