Red Deer, July 20, 2015 -Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association were down on a year-over-year basis in June 2015.
Home sales numbered 544 units in June, a decline of nine per cent from June 2014. That said, sales have been steadily recovering after hitting a low in January. June sales were back above the five and 10-year averages for the month. They also hit the third highest level on record for the month of June.
Sales activity in all of Alberta fell 14.3 per cent from June 2014.
New residential listings on the Association’s MLS® System numbered 991 units in June, down 2.7 per cent from levels in June 2014.
There were 2,932 active residential listings on the Association’s MLS® System at the end of June, down 5.1 per cent from levels at the end of June 2014.
There were 5.4 months of inventory at the end of June 2015, up slightly from 5.2 months reported at the end of June 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 June 2015 was $176.8 million, falling 9.2 per cent from the record June in 2014. This was still the second best dollar volume for the month of June. The dollar value of home sales in all of Alberta declined 15.1 per cent from June 2014.
Sales of all types of properties totalled 569 units in June. This was down 10.1 per cent compared to June 2014. The total value of all property sales amounted to $186.6 million in June, down 13.9 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).