We are now at the midpoint of June and the sales keep rolling. We recorded 47 sales in Red Deer last week on our MLS® system and 64 new listings. The sales to new listing ratio for the week rising to 73%, a solid balanced market.
Not only did sales continue to hold their own at 47 MLS® sales this past week, and 45 recorded the week prior, but pending sales also jumped up to 51 from 37. With active listings totalling 631 or 580 minus the pending properties, the absorption rate is now down to 94 to 86 days. Quite a contrast to the 154 day absorption rate in January. (absorption rate= number of days or months to use existing inventory at present rate if no further listings added)
Our associates are busy as bees helping families find the home they are searching for, and helping sellers move on. With the end of June fast approaching, if you're thinking about moving when the kids are done school, now is a time to be entering the market place.
Your friend in real estate,
— Patrick Galesloot
Follow me on Twitter: @pgalesloot
All stats from the Red Deer MLS®