• June sales dropped 14% from the previous month (32 sales).
• Inventory levels are up 8% from the previous month (28 listings).
• We have noticed a decrease in the pace of showings and urgency of buyers, meaning less people are willing to engage in multiple offers than in April and May.  We first noticed the shift around the last week of May and first week of June.
• Single family homes under $500,000 are still in very high demand, although sales levels have dropped just slightly from April and May.
• The market over $600,000 is largely still in buyer’s market or balanced market territory, which has been the case for the better part of this year.
• There have only been two sales over 1 million in Red Deer year to date, a property on Bannerman Close, and an acreage property near Mackenzie Trails that falls into city catchment.  Typically Red Deer will only see 3 to 6 sales per year over the 1M mark.
• There are currently 43 properties listed between 600k and 800k, with only 3 currently pending, making this one of the more saturated segments for homes currently.

It’s not unusual to see a bit of a lull in the market around the end of June and into July.  With kids getting out of school, many families are focused on graduations or other life events, and then holidays.  We generally see a slowdown in the last week of August and first week or two of September as well as kids are going back to school.

Overall this is still a great market, and the best properties will still move quickly, but buyers will have a little more opportunity to get into homes without paying over the asking price.  Ultimately if you’re buying and selling in the same market, it’s equal opportunity on both ends.  While selling in multiple offers is fun, trying to buy in that same market can be very frustrating and overwhelming.