Rimbey 2020 real estate market remains consistent with 2019 numbers

COVID-19 so far has had little effect on real estate in community

Rimbey’s real estate market appears to have weathered COVID-19, with some metrics showing very little difference between 2019 and 2020.

Bob Tarney, Mr & Mrs Real Estate Inc, owner, said the variance selling price off the listed prices of properties has remained constant at 6 per cent, which is fairly in line with average numbers which Tarney said had typically been between 3.5 and 5 per cent.

“In our experience, we are extremely busy. That is both for listing and selling,” he said

According to Tarney, the Rimbey market has seen a 2020 selling price total is $5, 269, 300 at the average selling price for a property at $239, 514 — which is up from 2019 numbers at the same time which were $3, 586, 300 worth of real estate sold with an average price of $224,142.

“We have an increase of average price of roughly $15,000 but that is not necessarily an indicator of selling price total,” Tarney said.

Currently, there are 26 properties on the market, ranging in price from $120,000 to $674,900.

Tarney said numbers remaining relatively consistent with 2019 levels is indicative of Alberta being fairly successful at containing COVID-19 thus far.

“The real estate indicators to me are that the consumer likes what they are hearing in terms of the provincial news and are going about their business,” he said.

Despite numbers remaining similar year-to-year, Tarney said the market remains in a valley compared to the peak year of 2008

“There are some signs of strengthening of price in smaller market places like Rimbey. Nationally, they are talking about increases in price but they are basing that off larger urban centers,” he said.

To date, there have been 22 properties sold in Rimbey, comprised of 15 bungalows, one bilevel, three condos, two 1.5 stories and a three-level split.

Selling those properties has also required realtors adapting to COVID-19 protocols — which Tarney said essentially meant adding more time to each interaction.

“There needs to be a bit more time setting up showings and in principle, that is because of COVID-19. What I am doing with my clients is asking them to have disposable gloves, masks and hand sanitizer available for the showing. If they are vacant, I have those supplies,” he said.

Provincially, AHS also requires that only two people are allowed to view the home and they are asked to provide information for tracing and other purposes.

“We realtors have a questionnaire that include questions on travel and all the other national and provincial COVID-19 rules,” he said.

Going forward, Tarney expects the market continue on the course it is currently on.

“I am expecting the level of activity to at the very least maintain itself, which at present has been very active,” he said.



todd.vaughan@lacombeexpress.com

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Lacombe resident creates labyrinth near Breton

Marsha Duggan encourages others to use their imagination

330 km walk for charity going through Bentley

Chris Sadleir, 45, is walking from Calgary to Edmonton to raise money for the Lung Association

School curriculum to focus on basics, says LaGrange

Minister Adriana LaGrange, MLA for Red Deer South, said it will ‘unleash student potential’

1 in 7 Albertans have been tested for COVID-19

56 additional cases Thursday, 1,107 active cases remain in the province

Masks now mandatory in schools for Grades 4-12, staff

Students, teachers and staff will be provided with two reusable masks to be worn in schools

Protestors for Indigenous Lives Matter gather in Wetaskiwin

Protestors gathered along 56 St Wetaskiwin, Alta. August 4, 2020 for Indigenous Lives Matter.

13-year-old charged in death of boy, 10 in Maskwacis

The RCMP Major Crimes Unit have laid a manslaughter charge against a 13-year-old boy from Maskwacis.

‘Caught up in the frenzy:’ Oilers 50/50 draw breaking ticket sale records

Previous record was held by Toronto Raptors fans when a 50/50 raffle reached $2 million

Alberta jury trials to resume next month at offsite locations due to COVID-19

About 12 locations across Alberta may host the trials in halls, hotels and community centres

Alberta school curriculum to focus on basics, keep out political bias: minister

NDP education critic says the kindergarten to Grade 4 changes should have been implemented a year ago

Statistics Canada says country gained 419,000 jobs in July

National unemployment rate was 10.9 per cent in July, down from the 12.3 per cent recorded in June

Canada plans $3.6 billion in retaliatory tariffs on U.S. in aluminium dispute

The new Canada-United States-Mexico Agreement that replaced NAFTA went into force on July 1

Walmart to make face masks mandatory for customers across Canada

Requirement goes into effect on Wednesday, Aug. 12 across Canada

Canada ‘profoundly concerned’ over China death sentence for citizen in drug case

Police later confiscated more than 120 kilograms of the drug from Xu Weihong’s home

Most Read