Red Deer housing market sales down 6%

The Red Deer housing market remains flat, says a realtor.

Alex Wilkinson compared the number of sales in April 2018 to April 2019. The difference is a six per cent drop this year, with 146 home sales in 2018 and 137 in 2019.

He said the month-to-month comparison doesn’t show a trend, but if the downward spike continues, it may be cause for concern.

“We’re not in the great market here in central Alberta – we’re still feeling the effects of the economy,” he said.

But so far in 2019, the realtor has been busy compared to last year. In the past few weeks, particularly, Wilkinson has been getting more sales calls.

“May be it’s the nice weather. I’m not sure. There are more listings coming on, but it’s a spring market. It’s a very normal trend that it gets busier here in spring than it is the rest of the year,” he explained.

The average housing price in Red Deer remained unchanged in the month-to-month comparison, at about $311,589 in 2019 and $312,241 in 2018. The realtor refers to it as a flat trend.

The average days a property spent on the market in the city was 67 in April of this year, compared to 61 the same time last year.

Gong forward in 2019, the realtor is optimistic.

“I might be busier, and other realtors might not be as busy, but I personally feel it’s gotten busier this year than it was last year.”

He points to the recent provincial election, which has instilled hope and positivity in many people’s minds.

He agrees the last couple of years have been tough for the housing market due to the economy.

He said 2019 will be a “flat year” without any major ups or downs, unless something significant happens to the economy.

For those trying to sell their homes, he advises pricing the properties accordingly.



mamta.lulla@reddeeradvocate.com

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