Central Alberta home sales down year-over-year in February
Red Deer, March 18, 2015 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association were down on a year-over-year basis in February 2015.
Home sales numbered 263 units in February, a decline of 11.1 per cent from the same month in 2014. This was a slightly improvement from January.
Sales activity in all of Alberta fell 27.1 per cent from February 2014.
New residential listings on the Association’s MLS® System numbered 692 units in February, up 21.8 per cent from levels in February 2014.
There were 2,223 active residential listings on the Association’s MLS® System at the end of February, up 5.3 units from levels at the end of February 2014.
There were 8.5 months of inventory at the end of February 2015, up from 7.1 months reported at the end of February 2014 and above 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 February 2015 was $80.1 million, falling 14.1 per cent from February 2014. The dollar value of home sales in all of Alberta declined 30.7 per cent from February 2014.
Sales of all types of properties totalled 279 units in February. This was down 11.1 per cent compared to February 2014. The total value of all property sales amounted to $89.4 million in February, down 14.1 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.cara.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).