By Sheldon Spackman

Active Market

Local home sales remain hot in May

Jun 14, 2021 | 3:30 PM

Red Deer’s residential real estate market continued its torrid pace last month with home sales in May far outpacing numbers seen in the same month over the previous four years.

According to the latest market report from Central Alberta Realtors Association, there were 197 home sales in Red Deer last month, way up from 75 units sold in May of 2020, and the previous five-year high of 152 home sales in May 2017.

Year-to-date numbers are also significantly higher, with 842 home sales in Red Deer through the fist five months of this year, compared with 385 homes sales at the same point in 2020.

The average sale price last month was $348,752 – up substantially from $299,949 in May 2020.

The average number of days to sell came in at 45, down from 73 days during the same month last year.

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It’s a similar story throughout central Alberta. There were 738 units sold across the region last month, up from 294 in May 2020. Year-to-Date numbers show 2,963 homes sold throughout the region, compared with 1,255 during the first five months of 2020.

The average sale price was also higher at $360,539. That compares with $288,950 in May of last year.

The average number of days to sell was 73, down from 100 days one year ago.

Elsewhere in central Alberta last month:

(Community – Units Sold – Avg. Sale Price – Avg. Days on Market)

Blackfalds – 41 – $339,850 – 49

Innisfail – 17 – $300,335 – 56

Lacombe – 46 – $346,707 – 66

Penhold – 5 – $299,680 – 69

Ponoka – 13 – $273,615 – 77

Rocky Mountain House – 16 – $280,563 – 157

Stettler – 7 – $286,357 – 65

Sylvan Lake – 57 – $352,000 – 55