3rd Quarter Central Alberta Market Report For 2017
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.