Weekly market update at www.BlakeKing.ca

eye on the red deer market

Every week of the year I post listings entering, sales and what properties left the market through cancellation and expiry at www.BlakeKing.ca. These numbers are interesting numbers to follow because they can demonstrate what direction the market is heading. 

At the start of each year we see inventory stack up and at the end of the year, it decreases. In 2018 we witnessed very high inventory because a lot of homes didn’t sell the year prior (sellers were trying again in 2018) and sales were slower. 

Sales likely won’t increase substantially in 2019 but it will help the market if inventory stays reasonable through the year. We’re currently witnessing more homes leaving the market than entering the market but it’s to be expected at the end of the year.

blake king knows the red deer real estate market

Red Deer real estate weekly market report Nov 12th – 18th

If you’re planning to buy or sell residential real estate in the near future it’s important to know as much as possible about your local market.

Not only is it important to know what is happening in the market at any given time it’s also important to know what the market has done historically to make predictions. 

Putting weekly real estate news updates together I want to state upfront that a real estate market is local. Also note, when someone says “Canadian real estate market” or even “Alberta real estate market” it almost certainly doesn’t directly apply to your local market. Often you hear people making a decision or giving advice based on national or international real estate information. Take non-local information with a grain of salt, it may have zero relevance to your local market. And before making any real estate decision call an experienced local Realtor® for advice! 

Red Deer real estate weekly market report Nov 12th – 18th

Number of single-family detached homes sold: 10
Number of single-family detached homes listed: 29
The average price of single-family detached homes sold: $284,900

…to read the full article click to www.BlakeKing.ca


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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.