Sales, value rise in Q1

It has been a good first quarter for home sales in Red Deer, according to Multiple Listing Service statistics issued by the Central Alberta Realtors Association.

It has been a good first quarter for home sales in Red Deer, according to Multiple Listing Service statistics issued by the Central Alberta Realtors Association.

The number of sales and the value of city residential sales are up for the first quarter of 2013, as compared to the first three months of 2012.

In total, there were 407 sales from January to March, up almost nine per cent from the same period one year ago.

The value of such sales was up over 18 per cent as well, driven by a strong March, where the value was up 25 per cent from a year prior.

The average sale price for the three months was $320,066, with March sales averaging out at $324,872.

Sales of rural residences in the area, on the other hand, have been on a downward trend in 2013. Year-over-year sales from March were down nearly eight per cent, and the first three months of the year show a 10 per cent drop in sales — 448 in 2013 compared to 501 in 2012.

The average sale price for rural residential properties for the first three months was $254,832, up from an average of $253,000 for the same period in 2012.

Sales of acreages are up significantly, however, with 42 vacant acreages sold in the three-month period compared to seven in 2012.

In total there were 3,119 active listings across all categories at the end of March, down 17 per cent from March 31, 2012.

Total sales across all categories were almost identical in early 2012 and 2013, coming in at just under 1,000.

The Central Alberta Realtors Association advises against relying on average prices as an indicator of market trends, because they include homes of all types and from a variety of neighbourhoods.