After a wild year on the housing markets, it’s safe to say Red Deer has weathered the storm.
2020 saw stay-at-home orders, economic shut-downs and unemployment piled on Alberta’s already-struggling energy sector. The year had many real estate experts predicting a housing crash, with some expecting average house prices to fall by as much as 20 per cent.
In the end, Red Deer saw only a one per cent decrease in sales compared to 2019, and strong growth in new neighbourhoods like Gasoline Alley’s Liberty Landing indicate continued market confidence in the months to come. Buyers are hungry too — home sales increased an impressive 23 per cent in November 2020, when compared to the same month in 2019, according to Red Deer’s Lime Green Realty.
The Canadian Real Estate Association expects demand for single-family properties to continue surging, as Canadians embrace remote schooling and work-from-home lifestyles. The CREA predicts average home prices to rise 9.1 per cent across the country, with other agencies predicting a more modest — but still favourable — rise between four and seven per cent.
With statistics like that, purchasing a home in early 2021 is looking to be a sound financial investment, and one of the best ways to improve your quality of life.
“For Albertans looking for room to grow — while staying connected to shops and services — the new community in Gasoline Alley is a perfect fit,” says Scott Lamont, Project Manager with Liberty Landing.
Low inventory in Red Deer creates opportunities in Gasoline Alley
In their end-of-year market update, Lime Green Realty said housing inventory dropped by 12 per cent from October to November. While supply typically falls over the winter, the November drop was bigger than expected. Low supply plus increased demand suggests it could be hard to find your dream home at the start of 2021.
But there are plenty of building lots and quick-possession homes available at Liberty Landing in Gasoline Alley, which is currently selling Phase 2.
“Lamont Land has taken great care to preserve natural wetlands in the community, and a network of parks and trails give residents plenty of opportunities to enjoy the outdoors,” Lamont says. “There are homes to suit all lifestyles and life stages, including townhomes, duplexes and single family homes. And with all the stores, services and restaurants just a short walk away in Gasoline Alley, residents can still enjoy all their favourite urban amenities.”
The community is a short drive from The Dome Red Deer Sportsplex, movie theatres and other entertainment, and conveniently close to airports in Red Deer and Calgary. Luxury is more affordable than you think!