Red Deer house sales are up this year – and so are the prices.
In the first half of the year, there were 597 detached home sales, up four per cent from a year ago. The average price is up 12 per cent – to $451,196 – reflecting a tight market with more buyers than prime housing prospects.
Month-over-month, June detached home sales were down eight per cent, with 118 houses changing hands.
"Lower sales and higher inventory created 1.6 months of supply, slightly up from May but down 10 per cent year over year," said Alberta Real Estate Association in its Market Trend Summary for Red Deer.
"The continued tight market contributed to a 4.5 per cent rise in (residential prices of all kinds) year over year."
Residential sales of all kinds, including detached, semi-detached, rowhouses and apartments, are up three per cent with 977 units sold through six months. Semi-detached sales are up eight per cent to 104 units and apartment sales are up 13 per cent with 129 sales. Rowhouse sales are the only category down year-over-year, with the 147 sales representing an eight per cent drop.
Central Alberta-wide, residential sales of all kinds are up 12.8 per cent to 2,870 compared with the first six months of 2023.
Ponoka and Sylvan Lake have been the hottest markets through a half year. There have been 87 sales in Ponoka, up 52.6 per cent from the 57 recorded at the same point last year. In Sylvan Lake, sales are up 25. 3 per cent to 292 sales from 233 last year.
Other communities sales (last year in brackets):
• Blackfalds 127 (126)
• Innisfail 78 (83)
• Lacombe 125 (129)
• Penhold 39 (57)
• Rocky Mountain House 65 (76)
• Stettler 67 (60)
