Welcome to the 2025 edition of Patrick’s Real Estate Newsletter! In this issue, we reflect on the past year, share insights into the local housing market, and provide valuable tips for homeowners and buyers in Red Deer, Alberta.
Reflecting on 2024.
The 2024 real estate market in Red Deer demonstrated remarkable resilience despite some challenges. Interest rates were a dominant topic, significantly shaping market activity and consumer behaviour. Yet, our community’s strong sense of connection and ongoing economic growth played a vital role in stabilizing the housing market and maintaining optimism.
General Insights.
Total Sales Comparison:
There was a slight decline in overall sales, indicating a stable but slightly slower market.
Peak Months: April, May and June
consistently show the highest sales
for 2023 and 2024, making spring the
most active season.
Slower Months: January, February, and December show lower activity, which is typical for winter months in the real estate market.
Optimal Selling Window:
Spring and early summer (April to June) are the best times to list a home, as this period shows the highest demand based on sales activity.
Sellers should prepare their homes during the winter months to capitalize on spring activity.
Market Highlights
The past year revealed several key trends in Red Deer’s real estate market:
Over the past 10 years, single-family homes in Red Deer have been appreciated by $67,805 (17.76%)! Key Stats You Need to Know:
💰 Biggest Year of Growth: 2024 (+$39,094, +9.52%)
📉 Toughest Year: 2016 (-$17,242, -4.51%)
💡
The market shows resilience and strong demand, with consistent growth since 2020.
Sellers: It’s a great time to list your property and capitalize on these trends.
Buyers: Stay informed to find the best opportunities in this market
Community Insights
Each community in Central Alberta has benefited from the improved economy. Reviewing our slides below you'll note some similarities as well as some unique differences. See the comparisons below for January 1 - December 31, 2024:
Red Deer led the way with sales and listings as one would expect due to the population size of the community.
Sales | New Listings | |
Sylvan Lake | 290 | 368 |
Red Deer | 1,111 | 1,420 |
Lacombe | 175 | 219 |
Blackfalds | 186 | 232 |
Penhold | 53 | 58 |
Innisfail | 119 | 131 |
The most affordable house price was reported by Innisfail with an average of $355,517. Meanwhile, Sylvan Lake has the highest average sale price of a house with $462,945 for a home.