Red Deer, November 19, 2014 -Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at record levels in October 2014.
Home sales numbered 454 units in October, an increase of 7.8 per cent from the same month last year. This was the best October sales figure on record and the first time that sales in the month have ever topped the 450 mark.
Sales activity in all of Alberta rose 8.9 per cent from a year earlier in October 2014.
On a year-to-date basis, Central Alberta home sales were running 11.7 per cent ahead of the first 10 months of 2013. With only two months left to go 2014 looks set to post a new annual record.
New residential listings on the Association’s MLS® System numbered 636 units in October, up 5.6 per cent from year-ago levels.
There were 2,380 active residential listings on the Association’s MLS® System at the end of October, down 5.5 per cent from levels at the end of October 2013.
There were 5.2 months of inventory at the end of October 2014, down from 6.0 months reported at the end of October 2013 and 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 October 2014 was $146.6 million, rising 20.0 per cent from a year earlier and a record for the month. The dollar value of home sales in all of Alberta was up 15.6 per cent from October 2013.
Sales of all types of properties totalled 476 units in October. This was up 7.0 per cent compared to October 2013. The total value of all property sales amounted to $157.8 million in October, up 16.6 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.carassociation.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).