Central Alberta home sales edge down year-over-year in September

Posted by Jay McDouall on Tuesday, November 6th, 2018 at 9:01pm.

Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association numbered 340 units in September 2018. This was down a slightly 2.3% (eight sales) from September 2017.

On a year-to-date basis, home sales totalled 3,146 units over the first nine months of the year. This was an increase of 3.2% from the same period in 2017 and stood above 2016 as well.

Residential sales activity in all of Alberta, by comparison, was down 9% in September 2018 compared to September 2017.

There were 695 new residential listings in September 2018. This was down 8.7% on a year-over-year basis.

Active residential listings numbered 4,327 units at the end of September. This was up 3.4% from the end of August 2017 and marked the highest level on record for this time of the year.

Months of inventory numbered 12.7 at the end of September 2018, up slightly from the 12 months recorded at the end of September 2017 and above the 10-year average of 10.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in September 2018 was $98.5 million, down 7% from the same month in 2017.

By comparison, the dollar value of all home sales in Alberta declined 10% compared to September 2017.

Sales of all property types numbered 375 units in September 2018, up 1.1% (four sales) from September 2017. The total value of all properties sold was $119.2 million, down just 0.5% from September 2017.

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