It’s always interesting to watch what direction real estate moves, and it’s more interesting when watching your own local market. Your local real estate market effects almost all residents. Pricing and sales effect home buyers and sellers. The price of homes and the condition of the economy can effect the rental market. There are so many variables directly related to you the local real estate market that it touches everyone.
As a Realtor I like watching the market change. Keeping a close eye on sales, inventory, pricing help me keep a finger on the pulse. And watching the real estate market year after year, decade after decade a person can even see cycles happen. However, as nice it would be to know what’s going to happen next, we can only speculate based on history, stats and information.
Each month at HomeScope.ca I track the numbers of homes sold and compare it to previous years. 2016 has been an interesting year to watch. We’ve seen sales this year go as low as -25% below the same month in 2015 and 3 months later be 15% higher. An interesting thing to see is behaviour change when consumers regain some confidence – and we might be witnessing that now.
Currently in the Red Deer market we are witnessing a trend. During the last three month we’ve had positive sales numbers over last year, and that’s a big deal considering the results earlier in the year. January through August 2016 home sale were below 2015 each month except one. Since August though, September (+8%), October (+15%) and November sales numbers (equal to November 2105), on single family homes, have been above the negative mark.
Are we witnessing a trend? Let’s keep a close eye to see. I will continue to post sales number each month and it will be interesting to watch.