Market Update – February 1 2025

Red Deer Real Estate Market Update

The Red Deer real estate market saw some notable shifts in January 2025 compared to January 2024. Home sales increased slightly, while active listings decreased, reflecting a tightening market. Here’s a breakdown of the latest trends:

• Active Listings: There were 188 active listings as of January 31, 2025, representing a 21% decrease from the same time last year. This drop indicates lower inventory, which could create a more competitive market for buyers.
• Home Sales: A total of 96 homes sold in January 2025, a 7% increase from 90 homes sold in January 2024, signaling steady demand.
• Months of Inventory: The market is currently at 1.9 months of inventory, suggesting a seller’s market, where demand is outpacing supply.

Property Type Breakdown:

• Detached Homes: 63 sold, up 21% from last year, showing strong interest in single-family homes.
• Semi-Detached Homes: Sales dropped significantly, with 7 homes sold, down 59% from last year.
• Townhouses: Sales declined by 15%, with 11 sold compared to last year.
• Condos: This segment saw the most growth, with 15 sales, up 88%, indicating increasing demand for affordable housing options.

Market Insights

With inventory levels tightening and home sales showing resilience, the market continues to lean in favor of sellers. Buyers may need to act quickly to secure a home, especially in high-demand segments like detached homes and condos. If you’re thinking about buying or selling, now is a great time to discuss your options.

For more details or personalized market insights, feel free to reach out!

Charlotte Renschler, REALTOR®
Century 21 Maximum