The number of residential sales in Red Deer hit an all-time high for a single month in May at 247. Thankfully the number of active listings jumped more than 21`% which kept the sales to listing ratio just slightly higher than last month. The number of pending sales is still very high, but off slightly from last month.  The trend in the number of pending sales is the most current indication of where the market might be heading.  A lower pending sales count suggests our market may be normalizing as it usually does in June.

The most active price ranges continue to be between $200,000 and $400,000.  In addition to strong sales in that bracket, we also saw a large increase in the number of listing between which should easily supply demand going into the slower summer months and keep prices from inflating too much.

Optimism in all of Alberta remains strong as the economy continues to forge ahead.  Energy producers have found a way to move our landlocked oil to markets using rail and it appears that our economy is firing on all cylinders.  The future continues to look very bright in central Alberta, therefore we expect the housing market to remain robust for the foreseeable future.