Near-record December for Central Alberta home sales
Red Deer, January 16, 2015 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at historically very strong levels in December 2014.
Home sales numbered 249 units in December, an increase of 29.7 per cent from the same month in 2013. This was the second best December sales figure, standing just three sales behind the record for the month set in 2006.
Sales activity in all of Alberta edged down 2.2 per cent from December 2013 in December 2014.
On an annual basis, Central Alberta home sales came in 12.3 per cent ahead of 2013 and set a new annual record at 5,496 units. This was also only the third time that activity has ever topped 5,000 units sold.
New residential listings on the Association’s MLS® System numbered 322 units in December, up 39.4 per cent from subdued levels in December 2013.
There were 1,753 active residential listings on the Association’s MLS® System at the end of December, down 10.8 per cent from levels at the end of December 2013. This was the lowest level of overall supply for any month since December 2007.
There were 7.0 months of inventory at the end of December 2014, well below 10.2 months reported at the end of December 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 December 2014 was $77.4 million, jumping 43.9 per cent from December 2013 to a record for the month. The dollar value of home sales in all of Alberta edged up only four tenths of one per cent from December 2013.
Sales of all types of properties totalled 262 units in December. This was up 27.2 per cent compared to December 2013. The total value of all property sales amounted to $86.7 million in December, up 42.0 per cent on a year-over-year basis.
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.carassociation.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).