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Residential sales activity reported through the MLS® Systems of real estate boards in Alberta remained well below year-ago levels in July 2010.
According to statistics provided by real estate boards in Alberta, home sales numbered 4,086 units in July 2010, down 37 per cent from a record month of July last year. Year-over-year sales declines were reported in all areas of the province. Nationally, home sales were down 30 per cent on a year-over-year basis in July.
The provincial average price for homes sold in July 2010 was $355,295, rising three per cent from a year earlier. By comparison, the national average price edged up one per cent from year-ago levels to $330,351.
Monthly residential average prices were down from year-ago levels in North Eastern Alberta (-14 per cent), Grande Prairie (-6 per cent), Alberta West (-4 per cent), Medicine Hat (-4 per cent), and Lethbridge (-0.7 per cent), but recorded gains in all other areas of the province.
The value of all home sales in the province totalled $1.5 billion in July 2010, falling 35 per cent from July 2009. The dollar volume of all home sales in Canada fell 29 per cent.
Total sales in Alberta numbered 4,502 units in July, a decrease of 37 per cent from July 2009. The value of those sales amounted to $1.6 billion, down 34 per cent from year-ago levels.
New listings on the MLS® Systems of real estate boards in Alberta were down four per cent from a year earlier to 9,444 units in July. On a seasonally adjusted basis, new listings have been trending lower since the recent peak in April 2010.
Despite the recent downward trend in new listings, the overall supply of homes for sale on the market remains elevated. Active residential listings were up 32 per cent from year-ago levels to 32,668 units at the end of July. This remains slightly below 2008 levels.
There were eight months of inventory at the end of July. This is more than twice the level reported last July (3.8 months), which was one of the lowest levels of the past three years. 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 combined value of home sales activity in Calgary was $649.3 million in July 2010, a 38 per cent decrease from year-ago levels. A total of 1,612 home sales were recorded through the MLS® System of the Calgary Real Estate Board in June, down 41 per cent from one year earlier.
The total value of home sales in Edmonton was $458 million in July 2010, falling 38 per cent year-over-year. There were 1,389 home sales recorded through the MLS® System of the Edmonton Association of REALTORS®, a decrease of 39 per cent from July 2009.
Alberta
July 2010 |
Residential Dollar Volume |
Total Dollar Volume |
Residential Average Price |
Alberta West |
$ 20,434,800 |
$ 23,745,200 |
$ 279,929 |
Calgary |
$ 649,328,263 |
$ 704,432,397 |
$ 402,809 |
Central Alberta |
$ 80,573,615 |
$ 100,253,931 |
$ 288,794 |
Edmonton |
$ 457,995,909 |
$ 537,284,382 |
$ 329,731 |
Fort McMurray |
$ 108,566,592 |
$ 112,621,592 |
$ 574,426 |
Grande Prairie |
$ 27,280,188 |
$ 37,437,088 |
$ 250,277 |
Lethbridge |
$ 45,328,495 |
$ 47,562,995 |
$ 249,058 |
Lloydminster (AB) |
$ 13,475,244 |
$ 14,495,144 |
$ 254,250 |
Medicine Hat |
$ 25,007,671 |
$ 30,340,371 |
$ 245,173 |
North Eastern Alberta |
$ 18,599,350 |
$ 20,581,350 |
$ 247,991 |
South Central Alberta |
$ 5,144,750 |
$ 6,286,750 |
$ 223,685 |
Provincial |
$1,451,734,877 |
$1,635,041,200 |
$355,295 |
Alberta
YTD 2010 |
Residential Dollar Volume |
Total Dollar Volume |
Residential Average Price |
Alberta West |
$ 152,519,104 |
$ 168,055,188 |
$ 278,320 |
Calgary |
$ 5,512,455,364 |
$ 6,005,722,374 |
$ 402,134 |
Central Alberta |
$ 533,231,791 |
$ 661,720,259 |
$ 274,014 |
Edmonton |
$ 3,531,344,633 |
$ 4,016,078,970 |
$ 333,429 |
Fort McMurray |
$ 633,299,870 |
$ 642,526,460 |
$ 559,947 |
Grande Prairie |
$ 274,576,073 |
$ 310,155,879 |
$ 261,750 |
Lethbridge |
$ 305,333,194 |
$ 325,427,208 |
$ 247,233 |
Lloydminster (AB) |
$ 105,385,531 |
$ 111,933,242 |
$ 255,790 |
Medicine Hat |
$ 187,641,291 |
$ 205,928,151 |
$ 250,857 |
North Eastern Alberta |
$ 103,092,580 |
$ 117,806,230 |
$ 270,584 |
South Central Alberta |
$ 40,725,185 |
$ 46,647,035 |
$ 207,782 |
Provincial |
$11,379,604,616 |
$12,612,000,996 |
$356,225 |
Important
information
Please note the Brooks Real Estate Board
Co-operative Ltd. is now called the REALTORS® Association of
South Central Alberta. The West Central Alberta Real Estate
Board is now called the Alberta West REALTORS®
Association.
The average price information quoted can be useful
in establishing trends over time, but does not indicate actual
prices in centres comprised of widely divergent
neighbourhoods, or account for price differentials between
geographical areas.
The Alberta Real Estate Association represents over
10,185 brokers, salespeople and affiliate (e.g. solicitors,
appraisers, banks) members throughout the province. AREA
serves its members through a wide variety of educational
programs, publications and special services. REALTOR® is a
trademark, which identifies real estate professionals who are
members of The Canadian Real Estate Association and, as such,
subscribe to a high standard of professional service and to a
strict code of ethics.
For further
information contact:
Kelly Kimber, Manager of
Industry & Government Relations
kkimber@areahub.ca
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