Central Alberta Market Stats 

January Residential MLS sales in central Alberta were up almost 20% compared to December while the number active listings on February 1 were up 7.3% compared to January 1. Sales in January 2025 were up 21% compared to January 2024 while the number of active listings on Feb. 1, 2025 was down 15.6% compared to Feb. 1, 2024. The saga continues. Very low inventory levels are making it difficult for buyers while persistent demand drives prices up. The average sale price of a single-family home in Red Deer in January 2025 was $475,579, up from $411,903 in January 2024.

Part of the challenge is that people wanting to move are afraid to list until they find a replacement while their potential replacement is afraid of the same thing and so it becomes a self-defeating cycle.

The threat of tariffs by the US isn’t helping the situation. Consumers faced with uncertainty generally choose to do nothing. There are likely some sellers putting off listing their homes until they know whether tariffs will be imposed and what the potential effect will be on them. There are also likely some buyers who have put their plans on hold.

The 30-day reprieve Canada recently received from the US just extends the uncertainty and there is no guarantee tariffs of some sort won’t be applied in the future. We believe they will be lower or indefinitely delayed, allowing us to get back to normal. If the announced tariffs do go into place in March Alberta will likely fare the best of all the provinces.