As we wrap up July and head into August, let's take a closer look at what's happening in the Red Deer real estate market. Here are the key stats you need to know:
- Active Listings: As of August 1st, we have 306 active listings. Last year at this time, there were 332.
- Sold Properties: In July, 177 properties were sold, compared to 189 in July of last year.
- Month of Inventory: We're at 1.72 months of inventory, indicating that we're still in a seller's market. Although it felt like things slowed down a bit towards the end of July, likely due to families on holidays and the extremely hot weather, the market remains strong.
- The most active price range in Red Deer was between $200,000 and $300,000.
- The least active was in the $750,000+ category—no surprises there.
- Despite the lower inventory levels, which are down 11% compared to last year, year-to-date sales are up almost 5% compared to 2023.
- The average price of all residential MLS sales in Central Alberta has risen by 9% from a year ago.
- The average sale price of single-family homes is up 7.6%, supporting our theory that properties in the lower price ranges have seen the most significant price inflation.