A house is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Canadian home prices increased in June to mark the largest 12-month gain on record as prices climbed in all 11 markets, says the Teranet National Bank composite price index. THE CANADIAN PRESS/Sean Kilpatrick

A house is displayed for sale in a new housing development in Ottawa on Tuesday, July 14, 2020. Canadian home prices increased in June to mark the largest 12-month gain on record as prices climbed in all 11 markets, says the Teranet National Bank composite price index. THE CANADIAN PRESS/Sean Kilpatrick

Red Deer real estate market not cooling off

Residential sales in city up 72% over last year

Red Deer’s real estate market remains hot in what has been a bounce-back year.

Last month, residential unit sales were up 23 per cent — 164, compared with 133 for the same month in 2020, according to statistics from the Central Alberta Realtors Association.

Year over year, the numbers are even more impressive. There have been 1,374 residential units sold through eight months, up nearly 72 per cent, compared with the 800 units sold last year by September.

In its monthly report, the Alberta Real Estate Association says the average sale price for a detachment home has gone up nine per cent to $379,501 this year.

August saw an increase in listings, which if the trend continues, “should help limit some of the upward price pressure that we have seen in the city this year,” says the association.

The housing boom has been felt across Central Alberta. Sales are up 76 per cent through August, with 4,859 units sold, compared with 2,757 over the same period last year. In August, there were 596 residential units sold, compared with 492 in August 2020.

Individual central Alberta communities are also having banner years.

Red Deer County has had 866 sales so far, compared with 459 in 2020.

Other stats include (with 2020 in brackets)

•Blackfalds — 232 (107)

•Innisfail — 102 (54)

•Lacombe — 206 (111)

•Ponoka — 104 (57)

•Rocky Mountain House — 88 (48)

•Stettler — 79 (42)

• Sylvan Lake — 395 (187)



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