Mid-Month Market Update January 15, 2020

The Central Alberta real estate market moves into 2020 in typical January fashion with lower inventory levels and slower sales than December.  The good news is that the first two weeks of January 2020 were quite a bit busier than the first two weeks of January 2019 in spite of some very cold temperatures that probably delayed both sellers and buyers from entering the market. 

The new decade is off to a good start with some encouraging economic news.  Significant progress has been made on three pipelines that will bring jobs and renewed confidence in our economy, a key factor in the health of our community and province.  Confidence changes the way we view things and creates new opportunities all on its own.

Our prediction for the central Alberta real estate market in 2020 is slightly more sales with similar or slightly higher inventory levels.  A busier market will encourage more sellers to participate which will maintain the supply and demand balance we’ve experienced over the past year.  Hopefully the relationship between supply and demand this year will move closer to balance and keep prices stable.

Mid-Month Market Update January 15, 2020

The Central Alberta real estate market moves into 2020 in typical January fashion with lower inventory levels and slower sales than December.  The good news is that the first two weeks of January 2020 were quite a bit busier than the first two weeks of January 2019 in spite of some very cold temperatures that probably delayed both sellers and buyers from entering the market. 

The new decade is off to a good start with some encouraging economic news.  Significant progress has been made on three pipelines that will bring jobs and renewed confidence in our economy, a key factor in the health of our community and province.  Confidence changes the way we view things and creates new opportunities all on its own.

Our prediction for the central Alberta real estate market in 2020 is slightly more sales with similar or slightly higher inventory levels.  A busier market will encourage more sellers to participate which will maintain the supply and demand balance we’ve experienced over the past year.  Hopefully the relationship between supply and demand this year will move closer to balance and keep prices stable.

Mid-Month Market Update January 15, 2020

The Central Alberta real estate market moves into 2020 in typical January fashion with lower inventory levels and slower sales than December.  The good news is that the first two weeks of January 2020 were quite a bit busier than the first two weeks of January 2019 in spite of some very cold temperatures that probably delayed both sellers and buyers from entering the market. 

The new decade is off to a good start with some encouraging economic news.  Significant progress has been made on three pipelines that will bring jobs and renewed confidence in our economy, a key factor in the health of our community and province.  Confidence changes the way we view things and creates new opportunities all on its own.

Our prediction for the central Alberta real estate market in 2020 is slightly more sales with similar or slightly higher inventory levels.  A busier market will encourage more sellers to participate which will maintain the supply and demand balance we’ve experienced over the past year.  Hopefully the relationship between supply and demand this year will move closer to balance and keep prices stable.

Mid-Month Market Update January 15, 2020

The Central Alberta real estate market moves into 2020 in typical January fashion with lower inventory levels and slower sales than December.  The good news is that the first two weeks of January 2020 were quite a bit busier than the first two weeks of January 2019 in spite of some very cold temperatures that probably delayed both sellers and buyers from entering the market. 

The new decade is off to a good start with some encouraging economic news.  Significant progress has been made on three pipelines that will bring jobs and renewed confidence in our economy, a key factor in the health of our community and province.  Confidence changes the way we view things and creates new opportunities all on its own.

Our prediction for the central Alberta real estate market in 2020 is slightly more sales with similar or slightly higher inventory levels.  A busier market will encourage more sellers to participate which will maintain the supply and demand balance we’ve experienced over the past year.  Hopefully the relationship between supply and demand this year will move closer to balance and keep prices stable.

Mid-Month Market Update January 15, 2020

The Central Alberta real estate market moves into 2020 in typical January fashion with lower inventory levels and slower sales than December.  The good news is that the first two weeks of January 2020 were quite a bit busier than the first two weeks of January 2019 in spite of some very cold temperatures that probably delayed both sellers and buyers from entering the market. 

The new decade is off to a good start with some encouraging economic news.  Significant progress has been made on three pipelines that will bring jobs and renewed confidence in our economy, a key factor in the health of our community and province.  Confidence changes the way we view things and creates new opportunities all on its own.

Our prediction for the central Alberta real estate market in 2020 is slightly more sales with similar or slightly higher inventory levels.  A busier market will encourage more sellers to participate which will maintain the supply and demand balance we’ve experienced over the past year.  Hopefully the relationship between supply and demand this year will move closer to balance and keep prices stable.

Mid-Month Market Update January 15, 2020

The Central Alberta real estate market moves into 2020 in typical January fashion with lower inventory levels and slower sales than December.  The good news is that the first two weeks of January 2020 were quite a bit busier than the first two weeks of January 2019 in spite of some very cold temperatures that probably delayed both sellers and buyers from entering the market. 

The new decade is off to a good start with some encouraging economic news.  Significant progress has been made on three pipelines that will bring jobs and renewed confidence in our economy, a key factor in the health of our community and province.  Confidence changes the way we view things and creates new opportunities all on its own.

Our prediction for the central Alberta real estate market in 2020 is slightly more sales with similar or slightly higher inventory levels.  A busier market will encourage more sellers to participate which will maintain the supply and demand balance we’ve experienced over the past year.  Hopefully the relationship between supply and demand this year will move closer to balance and keep prices stable.

Clearwater County Market Update – January 1, 2020

In 2019 in central Alberta, total real estate sales of all types were down for the fifth consecutive year.  The cumulative decline as a percentage of total sales since 2014 is 35.4%.  That means 2,052 fewer properties changed hands in 2019 than in 2014. The change from 2018 to 2019 was -7.60% or 308 fewer properties that sold in 2019.  Real estate prices are determined by the relationship between Supply and Demand.  While sales are down 35.4% since 2014, Supply is up 32.3% this month compared to Dec. 2013.  That is a great situation if you are a buyer.  In fact, we believe this is probably the best opportunity a buyer will see with a combination of the lowest prices in five years and very attractive mortgage rates.

Five years ago, no one would have believed Alberta’s economy would have suffered this long.  We’ve had a few false positives in that time when we felt like we had hit bottom only to slide a little deeper after disappointments like the cancellation of a pipeline, endless delays to three others and the exit of massive amounts of capital out of the region.  Not to be like the boy that cried wolf, but we do feel there is improvement ahead in 2020.  Oil prices are sneaking up, Alberta oil production is increasing and export capacity is improving as a result of more rail capacity and more efficient utilization of the Line 3 pipeline.  And the Trans Mountain continues to slowly move ahead.  Buyers take note!

Rocky Mountain House Market Update – January 1, 2020

In 2019 in central Alberta, total real estate sales of all types were down for the fifth consecutive year.  The cumulative decline as a percentage of total sales since 2014 is 35.4%.  That means 2,052 fewer properties changed hands in 2019 than in 2014. The change from 2018 to 2019 was -7.60% or 308 fewer properties that sold in 2019.  Real estate prices are determined by the relationship between Supply and Demand.  While sales are down 35.4% since 2014, Supply is up 32.3% this month compared to Dec. 2013.  That is a great situation if you are a buyer.  In fact, we believe this is probably the best opportunity a buyer will see with a combination of the lowest prices in five years and very attractive mortgage rates.

Five years ago, no one would have believed Alberta’s economy would have suffered this long.  We’ve had a few false positives in that time when we felt like we had hit bottom only to slide a little deeper after disappointments like the cancellation of a pipeline, endless delays to three others and the exit of massive amounts of capital out of the region.  Not to be like the boy that cried wolf, but we do feel there is improvement ahead in 2020.  Oil prices are sneaking up, Alberta oil production is increasing and export capacity is improving as a result of more rail capacity and more efficient utilization of the Line 3 pipeline.  And the Trans Mountain continues to slowly move ahead.  Buyers take note!

Mid-Month Market Update December 15, 2019

Sales in central Alberta in the first two weeks of December were almost as good as November’s and higher than the same period a year ago.  The number of active listings is down from last month, but up a little compared to last year.  We have been a little busier than we would expect this month, which may be a sign that there is some optimism around the encouraging news we’ve heard lately, especially on the pipeline front.  There was also a hint in the Prime Minister’s mandate letter to the Finance Minister that the mortgage stress test will be reviewed, which would be huge for Alberta home sellers and buyers.

Christmas is supposed to be a time for family gatherings, friendship and charity, but we are especially mindful of the people in central Alberta who have struggled this past year with job losses or setbacks, illness or family issues that will make this a more difficult time.  Our thoughts for everyone this Christmas is that you find hope for a better future and that there is something to celebrate.  In spite of the economic trials we have been through over the past few years, we are reminded that we live in one of the best places in the world and we are very thankful for all the great things this province has to offer.  Albertans are resourceful, strong and determined and we will survive whatever comes.

Red Deer Market Update – January 1, 2020

In 2019 in central Alberta, total real estate sales of all types were down for the fifth consecutive year.  The cumulative decline as a percentage of total sales since 2014 is 35.4%.  That means 2,052 fewer properties changed hands in 2019 than in 2014. The change from 2018 to 2019 was -7.60% or 308 fewer properties that sold in 2019.  Real estate prices are determined by the relationship between Supply and Demand.  While sales are down 35.4% since 2014, Supply is up 32.3% this month compared to Dec. 2013.  That is a great situation if you are a buyer.  In fact, we believe this is probably the best opportunity a buyer will see with a combination of the lowest prices in five years and very attractive mortgage rates.

Five years ago, no one would have believed Alberta’s economy would have suffered this long.  We’ve had a few false positives in that time when we felt like we had hit bottom only to slide a little deeper after disappointments like the cancellation of a pipeline, endless delays to three others and the exit of massive amounts of capital out of the region.  Not to be like the boy that cried wolf, but we do feel there is improvement ahead in 2020.  Oil prices are sneaking up, Alberta oil production is increasing and export capacity is improving as a result of more rail capacity and more efficient utilization of the Line 3 pipeline.  And the Trans Mountain continues to slowly move ahead.  Buyers take note!