October 2019 Market update

Posted by Carson Nielsen on Thursday, November 7th, 2019 at 11:38am.

 

What happened in October?

Through out Central Alberta we have a mixed bag of results. As far as Single Family Detached Homes are concerned, the listing Inventory in Lacombe, Innisfail and Blackfalds are very similar to October of 2018, Days on Market have increased for all three communities. I am going to contribute that to the Election as the market seemed to slow down as we drew closer to Election Day.

 In Red Deer there has been an increase in New Listings of 10.22% however there is still a decrease in Active Listings of 10.51%. Sylvan Lake has had an increase of new listings of 17.14 percent and as well an 5.97% increase of active listings. The number of homes Sold is on close to Par with last last year. Days on market has decreased for both Sylvan Lake and Red Deer from this time last year.

October has followed suit with last month, the listing to sale ratio has increased over this time last year.

My opinion is that the Federal Election had a big part on the increase of days on market as Buyers were waiting to make decisions based on the results. Now is still a great time to buy with Interest Rates and housing price at their lowest in years you can comfortable move into your next home. As always, if you are seller we are in a highly competitive Market, it is in your best interest to bring on and Agent who knows and understands the market and its current trends  with the ability to maximize the return on your investment.


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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