October newsletter and September stats
Market activity for the month of September 2011
| | August | Change from | July to August 2011 | September | Change from | August to September 2011 |
New Listings | 2,951 | -1,141 | -37.5% | 2,585 | -366 | -12.4% |
Active listings | 8,343 | -78 | -0.9% | 8,062 | -281 | -3.3% |
Sales | 1,507 | +66 | +4.3% | 1,345 | -162 | -10.7% |
Average Sale price *House and Condo sales | $301,041 | -$13,399 | -4.2% | $305,931 | -$4,890 | +1.5% |
House | $370,348 | -$14,272 | -3.7% | $375,738 | +$5,390 | +1.4% |
Condo | $231,735 | -$12,520 | -5.1% | $236,125 | +$4,390 | +1.8% |
What do these statistics tell us?
October has arrived, the leaves are falling and our thoughts turn to winter vacations.
Last month, we predictably saw activity fall across the board, somewhat remarkable is that prices did not and in fact made slight increases. This is somewhat reminiscent of 2009 when prices and activity stayed high through November. This being said I think that the economic factors at play this year are somewhat different.
The rate of return seen from paper investments (stocks, bonds and mutual funds) is low at best. Real Estate can be a safe and viable place to put your money. For first time home buyers this may also be a good opportunity to jump in, with the ability to withdraw tax free from your RRSP’s under the first time home buyers plan you can realize the tax benefits and at the same time invest in your future. Given that stocks are global entities and Real Estate is regional it only stands to reason that as the world continues it economic struggle stocks and bods will do the same. Regionally, oil will continue to be in high demand with the growing demand in Asia and the developing nations. This is good for the price of oil, on which the economy of this city depends. With a growing Alberta economy
those who moved to Alberta this year for oil field jobs, and those who make the move early next year for construction season should feel confident in buying.
So what for the next six months: I see prices holding steady with maybe a slight decrease in and around December – January. Listings and sales will decline through to the beginning of March 2012. Now is a good time to look at making a move, buyers face stable prices with possible increases in the 2012. Sellers also benefit from stable prices but also from decreased competition.
Dave Dry
Realtor
Re/Max Real Estate
Direct: 780 446 3727
Office: 780 457 3777
E-mail:info@davedryhomes.com
www.davedryhomes.com