By Sheldon Spackman

Sales Activity Increase

Regional home sales see increase in 2020

Jan 14, 2021 | 10:43 AM

Last year saw positive signs in the local real estate market as the number of units sold, and the average sale price of homes throughout central Alberta increased over 2019.

According to the latest monthly statistics released by the Central Alberta Realtors Association (CARA), the number of units sold throughout central Alberta last month was 312 – up from 185 in December, 2019.

There were 4,345 homes sold throughout central Alberta in all of 2020 – up from 4,084 in 2019.

Average sale prices were also higher last month, coming in at $318,874 – up from $278,474 in December, 2019.

The number of days it took to sell a home in central Alberta last month was 93 – down from 95 in December, 2019.

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In Red Deer, 88 units were sold last month – up from 71 the previous December.

Final numbers for the year show 1,262 homes sold throughout the city in 2020 – down from 1,295 in 2019.

The average sale price of a home in Red Deer last month was $322,437 – up from $305,277 during December, 2019.

The number of days it took to sell a home in the city last month was 73 – up from 70 days in December, 2019.

Lindsay Olver, Chair of the Central Alberta Realtors Association says that after a slow start to the year, sales activity picked up again in the back half of 2020, noting some interesting trends in the local market as well.

“We see a little bit of a decrease in prices for semi-detached and apartment-style condos and row houses, but then single family homes, they increased,” says Olver. “One of the reasons single family homes might have gone up and maybe the semi-detached and row houses going down, is with people working from home, they don’t have to be close to their work anymore. So there has been a move to single family homes maybe a little bit further away from where they work.”

“Renovations have gone through the roof this last year as well compared to the year before,” adds Olver. “Then also interest rates, interest rates are at an all-time low right now.”

Olver admits, however, that it’s hard to predict what will happen over the next 12 months.

“But I think once things open up again, I think we’re going to see a surge like we did last year,” shares Olver. “We already have a strong start in January and usually January is pretty quiet. I find there’s a little bit of a shortage of inventory right now and that’s normal for the beginning of the year because people often wait until the spring to put their houses on the market.”

Elsewhere throughout central Alberta in December:

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

Blackfalds – 17 – $329,865 – 73

Innisfail – 9 – $313,389 – 67

Lacombe – 18 – $305,411 – 79

Penhold – 6 – $277,167 – 50

Ponoka – 11 – $240,364 – 117

Rocky Mountain House – 4 – $278,250 – 98

Stettler – 3 – $260,500 – 121

Sylvan Lake – 26 – $271,000 – 86