February Market Update

Posted by Carson Nielsen on Thursday, March 5th, 2020 at 12:58pm.

Your Monthly Central Alberta Real Estate Market Update

What happened in February 2020?

Again this month we are seeing are seeing a mixed bag of results in Central Alberta as far as Single Family Detached Homes are concerned.  Listing Inventory has increased in Red Deer 1.26 %, Innisfail 1.64% , Sylvan Lake 23.58% and Lacombe at 20.25%, where as Blackfalds has shown a decrease in listings of -22.47%. These increases being one or two listings, save for Sylvan Lake and Lacombe which have seen substantial increases. Days on Market has increased in Red Deer, Sylvan Lake and Innisfail only Lacombe and Blackfalds have had a decrease in days on market.

Red Deer has witnessed a decrease in sales of 20% which translate to 11 less sales over this time last year, Sylvan Lake has remained steady with just one less sale vs this time last year, we have seen a slight decrease in sales starting with Lacombe at 18.18% which is actually only 2 less sales, Innisfail with 2 less sale than last year.  and Blackfalds with an increase of 6 more sales over this time last year.  

We are now moving into the busy season which explains more listings coming on the market. The next two months will give us good insight into the coming year. We should see more sales this spring especially considering the recent BOC Rate drop of half a percent, which may translate to variable interest rates.  As always, if you are seller we are in a highly competitive market, it is in your best interest to bring on an Agent who knows and understands the market and its current trends  with the ability to maximize the return on your investment.

                                                                       Active listings       Sales

Red Deer       2019                                        392                      68

                       2020                                         397                      55        

Sylvan lake   2019                                         106                        9

                       2020                                         131                        8

Blackfalds     2019                                           89                       14

                       2020                                           69                         8 

Lacombe       2019                                          79                        11

                       2020                                          95                          9

Innisfail         2019                                          61                          7

                       2020                                          62                          5     

If you would like a more in depth look at your community or any other information, please contact me anytime. For those of you that read these reports what information would you like to see more of?

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