For a better look at how the Red Deer real estate market report card is put together have a look at the more detailed May 2019 report here.
Every seller needs a strategy based on their goals and timing. Maybe you don’t have to sell right away, when is the best time? Maybe you want to sell quick, what are some things to consider?
A market report card gives you a better look at the condition of a local market at any given time. Looking back on past report cards might show how a market is changing and whether it’s improving or not.
Here are the stats I use to compile the market report card.
- The number of sales – is the total number of home sales increasing or decreasing?
- Average prices – is your market seeing an upward or downward price trend?
- Inventory levels – what is your local market’s M.O.I. (months-of-inventory) rate?
These stats are important because combined they give a glimpse at the state of the market and the direction it’s taking. Read more about each below.
As of early May 2019 Red Deer
sales numbers are down 2 months straight, inventory has increased slightly, and the only good news is, average prices are up in the 1 and 4-month averages.
Current report card score is C-
A report card score of C- indicates a less than positive time to sell your home in the Red Deer market, but homes are still selling with the right approach. If you need to sell, have an experienced Realtor® interpret the local stats and make a plan for you.