August 5, 2014 – Market Update
Red Deer sales in July were again off slightly from June’s, but still well ahead of last July’s. While sales are up from last year, so are the number of active listings which keeps the market from going too far off balance. A market that is slanted heavily in favour of either buyer or seller is not healthy. The Red Deer market is still balanced slightly in favour of sellers, but less so than it was this spring.
The most active market by far is the $250,000 ‐ $350,000 price range. Sellers have the advantage in every price range except $500,000 plus where supply is far higher than demand. We believe that prices in Red Deer at the low end of the spectrum have surpassed the highs of 2007, but the high end of the scale has not quite.
More and more people are moving to Alberta to take advantage of the jobs that are available here. The median family income in Alberta is much higher than other provinces and Alberta residents get to take home more of it because we have no provincial sales tax, no real estate transfer tax and lower income tax rates. Add in ample, well- paying jobs and you have a very strong economy that just keeps getting better.
