Best August on record for Central Alberta home sales
Red Deer, September 17, 2014 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at very strong levels in August 2014.
Home sales numbered 511 units in August, an increase of eight per cent from the same month last year. This was the best August sales figure on record and the first time that sales in the month have ever topped the 500 mark.
Sales activity in all of Alberta rose four per cent from a year earlier in August 2014.
On a year-to-date basis Central Alberta home sales were running 12 per cent ahead of the first eight months of 2013, and stood just 26 sales shy of the record for the period set in 2007.
New residential listings on the Association’s MLS® System numbered 816 units in August, up half of one per cent (four listings) from year-ago levels.
There were 2,977 active residential listings on the Association’s MLS® System at the end of August, down six per cent from levels at the end of August 2013.
There were 5.8 months of inventory at the end of August 2014, down from 6.7 months reported at the end of August 2013 and below the long-run average 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 August 2014 was $167.7 million, rising 15 per cent from a year earlier and a record for the month. The dollar value of home sales in all of Alberta was up eight per cent from August 2013.
Sales of all types of properties totalled 534 units in August. This was up nine per cent compared to August 2013. The total value of all property sales amounted to $180 million in August, up 19 per cent from a year earlier.
The Central Alberta REALTORS® Association is an MLS® listing co-operative, representing more than 560 REALTORS® located in Red Deer and throughout Central Alberta. Details and photos of all Central Alberta REALTORS® Association listings can be found on the national public web sites www.cara.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).