Market Update: January 31, 2024

As we bid farewell to January, it's time for a quick market update for Red Deer.
In January, we witnessed a total of 86 sales in Red Deer, with the possibility of a few more transactions being finalized on this last day of the month. It's crucial to note that this number may fluctuate slightly as pending sales are closed. Currently, there are 41 houses, condos, and townhouses pending sale, indicating active interest in the market.
Interestingly, as of today, there are 184 active homes listed on the market. This figure marks a significant contrast from last year's statistics, where we had 308 active listings on the same day. This notable decrease in inventory highlights a shift in the market dynamics, which could impact both buyers and sellers.
Comparing sales figures from January of last year, we see a slight decrease, with 86 sales this year compared to 102 in the previous year. However, considering the potential additional sales that may be finalized today, the final count could be slightly higher.
It's essential for both buyers and sellers to stay informed about these market trends. Understanding the current inventory levels and sales activity can help you make informed decisions whether you're looking to buy, sell, or invest in real estate in Red Deer.
Stay tuned for the official statistics next week once they've been thoroughly analyzed and calculated by the board. We'll be sharing these updates on our website and social media platforms, so be sure to keep an eye out for them.
As always, if you have any questions or need assistance navigating the Red Deer real estate market, don't hesitate to reach out to us. We're here to help you achieve your real estate goals and make the most out of every opportunity.
Thank you for staying updated, and here's to a successful February ahead!