The average price of a home in Red Deer rose to $420,816 in March, a 20 per cent increase from the same month last year, according to the Central Alberta Realtors Association.
The number of residential sales in March totalled 149, a 4.5 per cent decrease year-over-year. At the same time, new listings reached 236, a 13 per cent increase from March 2024.
Inventory levels continued to decline, with a 15 per cent drop year-over-year.
Detached homes sold for an average price of $523,798 — up 18 per cent year-over-year. Semi-detached homes saw an average of $322,225, while row and townhomes averaged $256,393, a 10 per cent increase. Apartment-style units posted an average price of $197,514, up 14 per cent from the previous year.
The monthly report reflects continued upward pressure on home prices amid declining supply.
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