Best July on record for Central Alberta home sales
Red Deer, August 18, 2014 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at very strong levels in July 2014.
Home sales numbered 582 units in July, an increase of 12 per cent from the same month last year. This was the best July on record and the fifth highest level of any month in history.
Sales activity in all of Alberta rose five per cent from a year earlier in July 2014.
On a year-to-date basis Central Alberta home sales were running 13 per cent ahead of the same period in 2013 and just 1.3 per cent behind the record for the period set in 2007.
New residential listings on the Association’s MLS® System numbered 932 units in July, up five per cent from year-ago levels. This was the highest number of new listings on record for the month of July.
There were 3,125 active residential listings on the Association’s MLS® System at the end of July, down four per cent from levels at the end of July 2013.
There were 5.4 months of inventory at the end of July 2014, down from 6.3 months reported at the end of July 2013 and in-line with 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 July 2014 was $177.1 million, rising 11 per cent from a year earlier to the highest level of any July on record. The dollar value of home sales in all of Alberta was up nine per cent from July 2013.
Sales of all types of properties totalled 608 units in July. This was up 12 per cent compared to July 2013. The total value of all property sales amounted to $192.8 million in July, up 13 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).