Red Deer
Red Deer is a city located in Alberta, Canada. It is almost halfway between Edmonton & Calgary. The Art Gallery and Museum of Red Deer focus on the local history and it contains a huge collection of First Nations Art. There is a Bower Pond in the city and it is a park with ice skating and paddle boats.
Red Deer is the third Canadian city in Alberta that has a population of more than 100,000 individuals. According to the ranking of MoneySense Magazine in 2018, this city has ranked the twelfth best place to live in Canada.
Red Deer is known as one of the most entrepreneurial cities in the city, this city is competitive with other huge cities in Western Canada and Alberta. Other advantages of the city are the major routes of transportation, low Texas, easily available land for lease or sale, and Red Deer regional airport.
Average Housing Price in Red Deer
The average housing price in Red Deer is affordable and is around $ 346,821. This extremely affordable housing price makes Red Deer an ideal and attractive destination for 1st time home buyers who have experienced an unaffordable and inaccessible real estate market across other countries.
With around 299 new active listings coming on the real estate market, there is responsible support of inventory levels in this regard. However, the new active listings in the May of this year are around 43.8 percent more than last May, this number is less than the last few months which indicated that Red Deer may have a shortage of house owners looking to sell their houses.
Backed by a huge number of new inventories in the 1st third part of the year, the already available inventory in the city has remained very stable this month. In the month, months of inventory and given high levels of sales have decreased more than 60 percent as compared to this month of last year.
The real estate market of Red Deer stayed hot during the last month of the year with sales rising over 40% higher from 136 houses, real estate data is represented by Multiple Listing service statistics that are compiled by Central Alberta Realtors Association.
Real Estate Market Outlook 2023 of Red Deer
The real estate market of Red Deer is on the fast track back to stability with the active listings of much more houses for sale. According to a real estate report, the market will follow the national trend of housing price increases in 2022 along with the growth rates and new active listings developments. Real estate professionals are expecting a rise in housing prices and sales in 2022 & a moderate rise in housing prices in 2023.
The average housing price in Red Deer is expected to be modest price in the upcoming months, growing by almost 4 percent. Moreover, housing sales are expected to rise as much as 15 % in 2022 & 2023. The houses will still be very affordable in Red Deer.
