Red Deer, June 22, 2015-Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association were down on a year-over-year basis in May 2015.
Home sales numbered 506 units in May, a decline of 23.6 per cent from the all-time record May set in 2014. That said, sales have been steadily recovering after hitting a low in January. May sales were back in line with the five and 10 year averages for the month.
Sales activity in all of Alberta fell 22.3 per cent from May 2014.
New residential listings on the Association’s MLS® System numbered 1,014 units in May, down 24.8 per cent from levels in May 2014.
There were 2,842 active residential listings on the Association’s MLS® System at the end of May, down 6.1 per cent from levels at the end of May 2014.
There were 5.6 months of inventory at the end of May 2015, up from 4.6 months reported at the end of May 2014 and slightly 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 May 2015 was $167.5 million, falling 17.1 per cent from the record May in 2014. This was still the fourth best dollar volume for the month of May. The dollar value of home sales in all of Alberta declined 22.4 per cent from May 2014.
Sales of all types of properties totalled 525 units in May. This was down 23.6 per cent compared to May 2014. The total value of all property sales amounted to $176.4 million in May, down 16.7 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).