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Written by JF Realty Team
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Tuesday, 10 January 2012 12:06 |
Wow, just finished analyzing the market stats from 2011, what an interesting year in Real Estate in Red Deer!
Here's the skinny (based on our analysis of MLS stats provided by Central Alberta Realtors Assoc)...
Days on Market - this statistic following normal trending for 2011 and was comparable to 2010, highest DOM was in January at 64, with spring marking the typical low dropping to 41 in June and again rising to an average of 57 in November/December.
Median Sales Price - Over 2011 the median price of single families home represents the price central to most buyer activity and it ranged from high of $338,000 (September) to a low of $280,000 (February). The median price was also relatively high in May reflecting predictable spring selling activity. Last month and moving into today's market, the Median price was $309,000.
Listing to Sales Ratio - this is a commonly used ratio to determine the 'market condition' as a Buyers, Seller, or Neutral. Generally accepted is that a ratio of 40-60% is Neutral, > 60% is Sellers and < 40% is Buyers.
So, what happened in 2011?
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January |
24 |
91 |
41% |
Neutral |
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February |
231 |
103 |
45% |
Neutral |
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March |
238 |
150 |
63% |
Sellers |
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April |
284 |
126 |
44% |
Neutral |
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May |
331 |
179 |
54% |
Neutral |
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June |
318 |
170 |
53% |
Neutral |
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July |
283 |
150 |
53% |
Neutral |
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August |
237 |
137 |
58% |
Neutral |
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September |
249 |
118 |
47% |
Neutral |
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October |
196 |
127 |
65% |
Sellers |
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November |
152 |
126 |
83% |
Sellers |
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December |
100 |
83 |
83% |
Sellers |
How does this compare to 2010?
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January |
263 |
85 |
32% |
Buyers |
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February |
252 |
115 |
46% |
Neutral |
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March |
322 |
120 |
37% |
Buyers |
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April |
327 |
156 |
48% |
Neutral |
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May |
342 |
151 |
44% |
Neutral |
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June |
382 |
133 |
35% |
Buyers |
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July |
301 |
126 |
42% |
Neutral |
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August |
294 |
94 |
32% |
Buyers |
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September |
254 |
121 |
48% |
Neutral |
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October |
244 |
76 |
31% |
Buyers |
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November |
197 |
113 |
57% |
Neutral |
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December |
120 |
99 |
83% |
Sellers |
Inventory - this is the final piece of the puzzle that we look at to assess the market for our clients, how many current listings are there on the first day of each month. In 2011 inventory has seen a drop in numbers when compared to the previous year starting in April and not recovering to date. We are consistently seeing lower inventory, with January 2011 marking the lowest for that calendar year, and moving into 2012 our inventory shows over 100 fewer listings at 356 when compared to last year's figure in January of 466. Wow!
What does all this mean? You will want to discuss the market conditions specific to your situation to see if there are benefits to you. Every property is different, and knowing how this market may affect its value is important to you as it is likely your largest asset. Even if you are not planning a move right now, knowledge today will help you decide for tomorrow.
If you want to know if it's a good time for you to make a move, call us!!
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