2017 Market Snapshot

Posted by Ben James on Wednesday, January 17th, 2018 at 2:10pm.

2017 was a difficult year with not very positive news in the real estate world for central Alberta.

--> Red Deer saw a slight 5% drop in total single family homes sales this year. One Good positive was average sale price actually rose from $376,000 to $381,000. Which may have come from the end of 2017! Red Deer had big sales again this year with 6 between $800-899k, and 4 between $900-$999k and also over 1mill Red Deer did 3 sales! With Prices still sliding throughout the year higher end buyers took advantage of some great deals in the top part of Red Deer's Single family Home market.

--> Sylvan Lake saw an increase in Sales from the previous year. about a 15% increase from 194 to 229 end of 2017! I'm surprised by this but going into the 4th quarter we had seen significant sales increases from 2016 and with prices still dropping the opportunity couldn't be better for buyers. Average sale price held steady at $365,000.

--> Lacombe struggled this year with 16% loss in total sales and $10,000 loss in average sale price which stands at $337,800 compared to $346,400 in 2016. Overall the biggest difference was the 50% loss of sales between 400,000 and 499,999. 2016 there were 30 sales in this price range, this year only 15!

--> Blackfalds managed to stay just up from last year seeing their average sale price grow from $344,000 to $348,000 and Total solds move ahead this year ever so slightly from 184 to 198. Continuing to be one of the fastest growing communities in central Alberta it's for this reason they also caught up in the 4th quarter.

--> Rocky Mountain House also proved to end on a high note. again slightly above last years totals gaining 9 sales in 2017 from 60-69 and increasing the average sale price from $300,900 to $303,100. The biggest noted change was sales over $400,000, there were 5 compared to 1 in 2016!

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