Red Deer Market Report Feb 2026 | Prices Down 7.5%

Executive Summary

The Red Deer, Alberta real estate market is currently classified as a balanced market. The median asking price is $410K, down 7.5% over the past 30 days.

There are currently 309 active listings. Inventory has increased 80.7% compared to last month.

Currently, listings spend an average of 39 days on market and the average price per square foot is $230.

Detached properties make up the largest share of the Red Deer market at 77% of active listings with an average price of $545K. Condo listings follow at 23% (avg $279K).

Sales Activity & Absorption

Volume

309

Active

Avg DOM

138

New (30d)

New (7d)

Market Signals

Price Cuts (30d)

New (7d)

Price Cuts

New (7d)

138 new listings appeared in the past month.

Neighborhoods

Area	Listings	Avg Price	Median
Downtown Red Deer	31	$926K	$324K
Evergreen	17	$701K	$720K
Timberlands North	13	$352K	$173K
Riverside Meadows	9	$254K	$300K
Johnstone Park	8	$271K	$232K
Aspen Ridge	8	$487K	$384K
Devonshire	7	$299K	$290K
Ironstone	7	$429K	$420K
Lancaster Green	7	$823K	$450K
Normandeau	7	$405K	$370K
Clearview Meadows	6	$307K	$257K
Deer Park Estates	6	$471K	$492K

Avg 2 schools nearbyAvg 7 parks nearbyAvg 11 transit stops nearby

Interest Rates & Affordability

Current Rates

Bank of Canada Policy Rate2.25%

Prime Rate4.45%

Est. Variable Rate (Prime + 0.5%)4.95%

Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.

Estimated Monthly Payment

Based on median price of $410K, 20% down, 25yr amortization

$1,907/mo

at 4.95% variable rate

This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.

Market Outlook

The market is relatively balanced between buyers and sellers. The Red Deer market currently has 309 active listings with a median price of $410K.

Prices declining (-7.5% in 30 days)
Low price reduction rate (0% of listings)
Average price per square foot is $230

For Buyers

The Red Deer market is balanced. You have reasonable options, but well-priced homes will still draw interest. Get pre-approved and stay informed on new listings. There were 35 new listings in the past week.

For Sellers

Price your home realistically based on recent sales. Focus on presentation and highlight unique features. Well-priced properties are still selling within reasonable timeframes.

Search Red Deer

Browse all 309 active listings.

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Resources

Market data is calculated from active and recently sold MLS listings as of February 28, 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.

Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.