Mid-Month Market Update July 15, 2020

The central Alberta real estate market continues to recover nicely in the first half of July with sales up 15% compared to the first half of July 2019.  The number of active listings is down 19% compared to last year and that decrease in supply coupled with the increase in demand means prices should remain stable.

Forecasting the future is difficult without knowing what lies in store for our area.  Central Alberta continues to beat the odds when it comes to Covid infections, but it would be naïve to suggest we couldn’t have an outbreak.  That would almost certainly have a negative impact on the local real estate market.

The other factor is the national and provincial economies and how well they recover.  We need jobs and the resulting economic security to ensure a long term stable housing market.  Albertans are resilient and tough and the experience learned from several downturns that will allow us to find solutions for today’s challenges.

Mid-Month Market Update July 15, 2020

The central Alberta real estate market continues to recover nicely in the first half of July with sales up 15% compared to the first half of July 2019.  The number of active listings is down 19% compared to last year and that decrease in supply coupled with the increase in demand means prices should remain stable.

Forecasting the future is difficult without knowing what lies in store for our area.  Central Alberta continues to beat the odds when it comes to Covid infections, but it would be naïve to suggest we couldn’t have an outbreak.  That would almost certainly have a negative impact on the local real estate market.

The other factor is the national and provincial economies and how well they recover.  We need jobs and the resulting economic security to ensure a long term stable housing market.  Albertans are resilient and tough and the experience learned from several downturns that will allow us to find solutions for today’s challenges.

Sylvan Lake Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Blackfalds Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Lacombe Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Innisfail Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Ponoka Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Red Deer Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Clearwater County Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.

Rocky Mountain House Market Update July 1, 2020

MLS sales in central Alberta recovered nicely in June, back to the levels we experienced in June 2019. In fairness, June 2019 sales weren’t spectacular, but it’s great to see how well the market has recovered from the Covid-19 shutdown. To put things in perspective, central Alberta residential MLS for the first half of 2020 are down 18% compared to the first half of 2019 and a whopping 48.7% compared to the first half of 2014.

We often are asked what has happened with prices over the past few years as well as where we think they are going in the coming year. Neither question is easy to answer but it appears that pre-Covid prices in central Alberta were down about 10-12% compared to the peak in 2014. It’s more difficult to identify what prices have done post-Covid. That would require finding similar homes sold before and after Covid and there just aren’t enough of those in our small market to accurately evaluate a price change. Our best guess would be 1-3% depending on the price range.

Where are prices going in the future depends on supply and demand. Some central Alberta markets moved close to balance in June because supply is low, probably because of Covid. When markets are in balance or moving toward balance, prices should stay stable. The unknown is how the Alberta economy is going to impact demand going forward.