Central Alberta home sales remain subdued in March
Red Deer, April 17, 2015 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association were down on a year-over-year basis in March 2015.
Home sales numbered 375 units in March, a decline of 16.7 per cent from the same month in 2014.
Sales activity in all of Alberta fell 20.3 per cent from March 2014.
New residential listings on the Association’s MLS® System numbered 941 units in March, up 3.1 per cent from levels in March 2014.
There were 2,522 active residential listings on the Association’s MLS® System at the end of March, up 9.7 per cent from levels at the end of March 2014.
There were 6.7 months of inventory at the end of March 2015, up from 5.1 months reported at the end of March 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 March 2015 was $119.6 million, falling 12.5 per cent from the record March in 2014. The dollar value of home sales in all of Alberta declined 21.1 per cent from March 2014.
Sales of all types of properties totalled 395 units in March. This was down 15.6 per cent compared to March 2014. The total value of all property sales amounted to $130.3 million in March, down 10.9 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).