Near-record November for Central Alberta home sales
Red Deer, December 16, 2014 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association remained at historically very strong levels in November 2014.
Home sales numbered 361 units in November, an increase of 10.1 per cent from the same month last year. This was the second best November sales figure, standing just seven sales behind the record for the month set in 2006.
Sales activity in all of Alberta rose three per cent from a year earlier in November 2014.
On a year-to-date basis, Central Alberta home sales were running 11.6 per cent ahead of the first 11 months of 2013. It also marked the first time that activity has ever topped 5,000 units sold over this period. 2014 will a new annual sales record.
New residential listings on the Association’s MLS® System numbered 407 units in November, down 9.2 per cent from year-ago levels.
There were 2,007 active residential listings on the Association’s MLS® System at the end of November, down 11.7 per cent from levels at the end of November 2013.
There were 5.6 months of inventory at the end of November 2014, down from 6.9 months reported at the end of November 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 November 2014 was $111.3 million, rising 9.3 per cent from a year earlier and a record for the month. The dollar value of home sales in all of Alberta was up 8.8 per cent from November 2013.
Sales of all types of properties totalled 393 units in November. This was up 13.6 per cent compared to November 2013. The total value of all property sales amounted to $128.8 million in November, up 15.7 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).