Red Deer, Alberta – August 18, 2015 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association numbered 509 units in July 2015. While this was a decline of 12.5 per cent from a record for the month last year, sales in July 2015 marked just the third time on record that activity has topped the 500 mark for that month.
Sales activity in all of Alberta fell 14.7 per cent from July 2014, and were running in line with the five and 10-year averages for the month.
New residential listings on the Association’s MLS® System numbered 858 units in July, down 7.9 per cent from levels in July 2014.
There were 2,955 active residential listings on the Association’s MLS® System at the end of July, down 5.4 per cent from levels at the end of July 2014.
There were 5.8 months of inventory at the end of July 2015, up slightly from 5.4 months reported at the end of July 2014 but 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 July 2015 was $163.1 million, falling 7.9 per cent from the record July in 2014. This was still the second best dollar volume for the month of July. The dollar value of home sales in all of Alberta declined 14.9 per cent from July 2014.
Sales of all types of properties totalled 529 units in July. This was down 13 per cent compared to July 2014. The total value of all property sales amounted to $173.3 million in July, down 10.1 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.carassociation.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).