Residential resale market picks up steam

Central Alberta’s residential resale market picked up steam in January, with 104 homes in Red Deer and 136 in the surrounding region sold through the Multiple Listing Service system during the month.

Central Alberta’s residential resale market picked up steam in January, with 104 homes in Red Deer and 136 in the surrounding region sold through the Multiple Listing Service system during the month.

Those numbers were up from 72 in Red Deer and 97 outside the city in December. During January 2013, MLS sales in the city totalled 99 and outside Red Deer the figure was 114.

The average resale price in Red Deer last month was $350,605, up from $303,515 in December and $317,919 in January 2013.

Outside the city, the average last month was $291,372. That compares with $246,627 in December and $242,735 in January 2013.

The Central Alberta Realtors Association has cautioned that average prices are not a good indicator of market trends, because the types and locations of properties sold from period to period can vary.

There were 186 new residential listings in Red Deer last month and 280 elsewhere in Central Alberta. A year ago, the corresponding numbers were 198 and 288.

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