FAQs

MARCH 2026

Red Deer (AB)

Detached homes: ~ CAD $515,434

Attached (semi‑detached/townhomes) category: ~ CAD $295,920

Townhomes listing average around: ~ CAD $298,9200

Condos: current median list price ~ CAD $233.631

Sylvan Lake (AB)

Average home price (all types) ~ CAD $395,750

Stettler (AB)

Average home price (all types) ~ CAD $440,250

Blackfalds (AB)

Average sale price (all types) ~ CAD $395,950

Innisfail (AB)

Average sale price (all types) ~ CAD $381,773

Lacombe (AB)

Average sale price (all types) ~ CAD $398,627

Penhold (AB)

Average sale price (all types) ~ CAD $430,311

IS IT A BUYER’S OR SELLER’S MARKET?
Red Deer and surrounding areas have been experiencing a sellers market for the last few years, in recent months we are starting to see things tip to more of a balanced market.  

HOW LONG DO HOMES USUALLY STAY ON THE MARKET AROUND HERE?
Red deer average days on market is currently about 36 days, taking condition periods into account most houses are accepting offers within 2 weeks on market

WHAT ARE THE BEST NEIGHBOURHOODS IN RED DEER AND SURROUNDING COMMUNITITES FOR FAMILIES?
Lifestyle, walkability and school zones are big deciding factors in choosing a home, I can help guide you through the best choice for you and your family

SHOULD I GET PRE-APPROVED BEFORE FINDING A HOME?

YES! YES! YES!  Reach out to me if you don’t know where to start, I have contacts for Mortgage Brokers, Banks and alternative lenders.  Once you are pre-approved I have a step by step Buyers Guide to walk you through the buying process up to getting your offer accepted.

HOW MUCH DO I NEED FOR A DOWN PAYMENT IN ALBERTA?
For homes priced at $500,000 or less → minimum down payment = 5% of purchase price. 

For homes priced between $500,000 and $1,500,000 → minimum down payment = 5% of the first $500,000 + 10% of the portion above $500,000. 

For homes priced at $1,500,000 or more → minimum down payment = 20% of purchase price. 

INVESTMENT or SECOND PROPERTY usually requires a minimum 20% down payment

WHAT EXTRA COSTS SHOULD I BUDGET FOR BESIDES THE DOWN PAYMENT?
Common surprises: home inspection, legal fees, property taxes, insurance, utility hookups/deposits and closing costs. Budget about 1.5% of purchase price to cover closing expenses, for a $400,000 home plan for approximately $6,000. 

WHAT FIRST-TIME HOMEBUYER INCENTIVES ARE AVAILABLE IN ALBERTA OR CANADA-WIDE?
First Home Savings Account (FHSA) – This is a tax‑advantaged savings account for first‑time buyers. You can contribute up to $8,000 per year (lifetime max $40,000) with tax‑deductible contributions and tax‑free withdrawals when used to buy a home.

Home Buyers’ Plan (HBP) – Allows first‑time buyers to withdraw up to $60,000 (single) from their RRSPs (or $120,000 for a couple) tax‑free to buy a home, provided repayment happens over up to 15 years. 

First‑Time Home Buyers’ Tax Credit (HBTC) – A non‑refundable income tax credit of up to $10,000 in eligible costs, which results in up to about $1,500 in tax savings for qualified first‑time buyers. 

GST/HST New Housing Rebate – If a buyer purchases a newly constructed home (or substantially renovated), they may reclaim part of the federal GST (or HST where applicable).

WHAT ARE THE STEPS FOR HOME BUYING OR SELLING?

I provide all my clients with a step by step guide for the buying and selling of your property.  Whether you are a first time home buyer or a seasoned pro having a checklist to follow makes sure you are aware of the process and nothing gets overlooked

HOW LONG DOES THE HOME-BUYING PROCESS TAKE IN ALBERTA?
From offer to possession, timelines can vary — typically 30–60 days.

DO I NEED A LAWYER OR JUST A REALTOR?
Yes, a lawyer is required for all Real Estate transactions in Alberta. Notaries are not used for Real Estate deals in this province.  Reach out to me for contact information on specialized Real Estate Lawyers in any surrounding areas

WHAT HAPPENS AFTER MY OFFER IS ACCEPTED?
Once we have gotten your offer accepted on a property I have a checklist of next steps!  I will be there to support you through the process from offer to closing

HOW OFTEN WILL YOU UPDATE ME DURING THE PROCESS?
I will keep you informed at every stage of the process through regular updates via text, email, or phone, whichever method you prefer. I’m also readily available at any time to answer your questions or provide additional information 

ARE THERE SCHOOLS, AMENITIES, AND PARKS NEARBY?

Red Deer has all levels of school with public, catholic and private options.  

There are many of amenities in Central Alberta such as multiple recreational centres, museums, local artisans and markets, full service hospital and walk-in clinics. 

Red Deer prides itself on it’s community parks with lakes, playgrounds and over 150 parks as well as 77 public outdoor rinks in winter!  There are over 80kms of nature trails for walking, hiking, cycling and skiing.

WHAT’S THE RESALE POTENTIAL IN THIS AREA?
Red Deer has seen significant growth in recent years and is likely to continue with buyers moving from higher priced cities and provinces to Central Alberta for its cost of living and proximity to both Calgary and Edmonton.

HOW’S THE COMMUTE OR ACCESS TO MAJOR ROUTES LIKE QEII?
The West neighbourhoods of Red Deer are ideal for commuters due to their ease of access to Highway 2 (QEII) and a short 90 minute drive North to Edmonton or South to Calgary. The East and north area neighborhoods are perfect for Highway 11 routes.