In July I started posting the average price of residential real estate in both Central Alberta and Red Deer. As I compiled price information I noticed in August very little had changed but in Sept numbers were substantial different.
Having a closer looks I realized the average sale price can be skewed with only one large home sale in any given month. With the average number of homes selling in Red Deer each month being approx 100, one out-of-the-ordinary sale can cause a misrepresentation of the market’s average price.
To provide a more accurate idea of what’s happening with local pricing I think it’s important to use a larger sample. To give a broad representation and probably a better idea of which direction things are trending I’ve decided to post the larger sample size based on all of Central Alberta’s sales. And to provide a good look at how each month is different I will post the last 12 month’s averages and then compile months for a running average (below).
I will post this each month to periodically chart which direction the market’s heading.
Check back each month to see how your market trends. Know your market!
If there is a more specific real estate market stat you’d like to know please email Blake King at hello@BlakeKing.ca anytime or call (403) 350-7672