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Written by JF Realty Team
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Monday, 04 April 2011 07:52 |
The Red Deer Real Estate market has really been gaining momentum from January - March. The year started with a fairly high inventory when compared with the number of properties sold, then the inventory and sales leveled in February with an increase in sales in March and a corresponding decrease in inventory levels...
Here is the breakdown. The median house price remained relatively stable at $280 - $290,000 for Jan/Feb and then jumped to $307,000 for March. As well, the number of homes sold in March increased by half from the previous 2 months. The increase of sales in March may have been due to the changing Mortgage rules that came into effect mid month, or may simply reflect typical spring buying patterns as the figure is similar to 2010 numbers.
With inventory now coming into normal levels for Red Deer, the market remains brisk for buyers and sellers. House prices have stabilized, economic indicators are positive. Average days on market for a home has steadily decreased from 64 days in January, to 58 days in February, and now sits at 48 for March.
All signs are positive for a really healthy year in the Real Estate Market. Have your home evaluated so that you know at what price you should list - this is so important for an efficient sale process. Most homes are selling at around 97% of the current list price so if you get it right the first time, your time on market will be minimized with the same sales result and no price reductions or prolonged viewing period - so take the advice of a trusted Realtor who has provided you will a comprehensive evaluation (make sure they give you a full report with analysis) - getting it right will make all the difference!!
Contact us today to find our where your home should be listed, we have had homes sell for great market prices in as few as 3 weeks this year! |
