By Sheldon Spackman

encouraging trends

More improvement in local home sales in October

Nov 16, 2020 | 4:18 PM

There were positive signs in the local real estate market again last month as the number of units sold increased over the same month last year. The average sale price also increased and the average number of days to sell a home decreased.

According to the latest report from the Central Alberta Realtors Association (CARA), there were 412 residential units sold throughout central Alberta last month – up from 349 in October, 2019.

Year-to-date numbers have seen only a modest increase however, with 3,657 residential units sold so far this year – up 12 from the same point last year.

The average sale price rose from $281,607 in October, 2019, to $325,080 in October, 2020.

The average number of days to sell a home in central Alberta dropped from 111 in October, 2019, to 95 last month.

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In Red Deer, there were 116 residential units sold in October, up from 101 in October, 2019. Year-to-date numbers, however, show 1,056 units sold in the city during the first 10 months of 2020 – down from 1,134 at this point last year.

The average residential sale price in Red Deer last month was $327,403 – up from $300,547 in October, 2019 and $298,918 in September.

The average number of days it took to sell a home in Red Deer last month was 67 – up from 63 days in October, 2019 but the same number of days as September.

Elsewhere throughout central Alberta in October:

(Community – Units Sold – Average Sale Price – Average Days To Sell)

Blackfalds – 20 – $335,783 – 75

Innisfail – 11 – $265,955 – 140

Lacombe – 12 – $272,000 – 74

Penhold – 7 – $315,257 – 114

Ponoka – 13 – $242,385 68

Rocky Mtn. House – 8 – $293,856 – 213

Stettler – 9 – $209,000 – 50

Sylvan Lake – 28 – $342,125 – 118

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