3rd Quarter Central Alberta Market Report For 2017

Posted by Ben James on Thursday, October 12th, 2017 at 1:53pm.

3rd 1/4 shows some positive growth in some sectors of central Alberta, Sales in Sylvan Lake are up 25% but didn't change the average sales price compared to last year.

Inventory levels are up slightly averaging about 270 active listings on the market. Rocky Mountain House saw a 14% increase in sales compared to 2016 3rd 1/4 stats with an 11% increase in average sales price year to date! Listing average is up slightly with about 109 active on the market in the 3rd 1/4 reporting. Red Deer and Lacombe markets didn't fair as good with Red Deer reporting 0% change in the 3rd quarter for total sales compared to 2016 and Lacombe Down 22% over 3rd 1/4 last year as well! Lacombe seeing a 6% decrease in average sale price or approx $20,000 difference and Red Deer's average sale price year to date showing 0% change over last year.

Blackfalds is having a much better 3rd 1/4 with listing inventory about the same as last year and sales up 14%! With that said year to date sales are up 25% and Blackfalds continues to trend strong numbers going into the 4th 1/4 as well. Even with this positive news the market is still favoring the buyer with average sale prices dropping 3% or about $10,000 out in Blackfalds. September reported 2300 full time jobs filled in Alberta and a slight decrease in unemployment rates from 8.1 to 7.9% . These small adjustments over time will in most cases help the real estate sector, especially when a large portion of the 2300 jobs were oil and gas, construction and manufacturing.

You can contact me for more details about specific stats in the market area if not covered here or looking for a more in depth look at a area you're in. 403-396-1290 ben@lapprealty.ca, #https://benjames-lapprealty.ca#lapprealty#markettrends#realestate#albertamarket,

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