January a hot month for local home sales

“I find that the apartment style condos and the semi-detached, they’ve decreased a little bit,” Olver says in regards to what types of homes are selling. “A lot of the facilities in an apartment style condo like a pool or a gym or whatever they have in there. You can’t use them anyway, so that used to add value, but right now it’s not.”

Homes are also selling faster than they were a year ago at an average of 97 days on the market, compared to 101 in January 2020.

Red Deer is seeing much of the same trend, with the number of units sold for January hitting triple digits, 100, which is a notable difference compared to last year’s 69 units sold.

The average sale price in the city almost rose by $7,000, with this January hitting $328,081, and last year hitting $321,154 (two per cent increase).

The average days to sell a home in Red Deer also went down, going from last year’s 84 days on market to 71.

“Everything seems to change at a rapid rate right now. I would make sure you do your homework. I don’t want to say it’s a good time to buy, but the conditions are favourable with the interest rates being low,” Olver notes.

Elsewhere in the region:

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

Blackfalds – 18 – $359,750 – 59

Innisfail – 5 – $260,580 – 80

Lacombe – 12 – $289,542 – 88

Penhold – 6 – $303,150 – 60

Ponoka – 7 – $203,414 – 107

Rocky Mountain House – 3 – $275,167 – 233

Stettler – 6 – $244,250 – 148

Sylvan Lake – 29 – $330,000 – 112

by Brody Langager

January a hot month for local home sales

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