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This Red Deer market update shows positive signs of growth in several key areas. With active listings up 38%, there are more homes for buyers to choose from, reflecting increased seller confidence and possibly a more competitive environment. The 5% increase in homes sold indicates that demand is steady, and buyers are still actively looking to make purchases. Additionally, the 8% rise in average sale price suggests that home values are appreciating, which can be encouraging for sellers.
However, with 2.8 months of inventory, the market is on the lower side of balanced, leaning toward a seller’s market. This means there may be more competition among buyers, and homes may not stay on the market for long. Buyers should be prepared to act decisively, while sellers can expect strong interest but should remain mindful of pricing competitively to keep pace with market trends.
This combination of high inventory turnover and rising prices makes for a dynamic market where both sellers and buyers can find opportunities if they stay informed and responsive.
For more information contact Charlotte Renschler, REALTOR®, Century 21 Maximum
