2006 WRAPS UP AS A RECORD YEAR FOR MLS® SALES

STRONG DEMAND FOR REAL ESTATE CONTINUES

RED DEER & DISTRICT REAL ESTATE BOARD CO-OP LTD. ““ January 5, 2007 ““
The robust real estate market in Red Deer and Central Alberta has been marked as record setting, with sales of 5,926 processed through the Multiple Listing Service® (MLS®), and annual sales dollar volume of over $1.3 billion. Sales increased in 2006 by 24 percent compared to 2005’s 4,775 sales. 7,582 property were listed on MLS® last year. This is a 12.11 percent increase compared to 2005, when 6,763 properties were listed on MLS®.

In December the average sale price of a single-family home in Red Deer was $325,955, a 4.34 percent increase compared to November, and 48.83 percent increase compared to a year ago when the average sale price was $221,991. The recorded average sale price of single-family homes sold in the communities around Red Deer in December, were 52.14 percent higher than for December 2005, with a slight decrease of 1.23 percent compared to November 2006. For the first month of 2006 the average price of a single-family home in Red Deer was $243,444, and by December the average price for a single-family home jumped to $325.955, (a 33.89 percent increase). And in the rural communities, home sellers and buyers saw a notable increase in the average sale price of a single-family home. In January 2006 the average sale price was $165,935, and the year ended with the average sale price for a home in rural Central Alberta at $241,212,(a 45.37 percent increase). In June, the Multiple Listing Service® recorded the highest number of sales for one month in Red Deer and the rural communities in the categories of single-family homes, and acreages with homes.” (Red Deer SF-208; Rural SF-454; acreages with homes-41).

“We’re seeing double-digit price increases year to year,” says Dale Russell, 2007 President of the RED DEER & DISTRICT REAL ESTATE BOARD CO-OP LTD. Mr. Russell went on to say, “House prices increased steadily during 2006 in Red Deer and throughout Central Alberta. Mr. Russell went on to say, “CMHC, provincial and federal economists predict Central Alberta will not experience a slowdown in activity as we head into 2007and for the coming months. New housing developments are popping up all across our area, indicators that Central Alberta is a great place to invest in real estate, and a terrific place to live and raise a family.” “The economy
in Central Alberta, especially the corridor between Calgary and Edmonton is strong. Alberta boasts the lowest unemployment rate throughout Canada at 3%. These are positive indicators that Red Deer and the surrounding areas will continue to see constructive growth.

Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent city and rural neighbourhoods, or account for price differentials between geographical areas. For information on specific areas,please consult a Realtor®. Using the services of a Realtor® who has detailed access to the private MLS® database, is the most effective way to sell or purchase a home.
The Red Deer & District Real Estate Board Co-Op Ltd. is a MLS® listing co-operative, representing 550+ Realtors® located throughout Central Alberta. Details and photos of all Red Deer & District Real Estate Board Co-Op Ltd. listings can be found on the national public MLS® web site www.mls.ca.
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