Residential sales activity reported through the MLS® Systems of real estate boards in Alberta came in above year-ago levels for the eighth consecutive month in December 2011.

According to statistics provided by real estate boards in Alberta, home sales in the province numbered 2,813 units in December 2011. This was an increase of one per cent from the previous December. At the national level, sales increased five per cent from December 2010.

Some 53,146 homes traded hands in Alberta in 2011. This stands seven per cent above levels reported in 2010.

The provincial average price for homes sold in December was $351,350, up three per cent from the same month a year earlier. The national average price rose one per cent from year-ago levels to $347,801.

Monthly residential average prices were up from a year earlier in North Eastern Alberta (+16 per cent) Central Alberta (+13 per cent), Grande Prairie (+9 per cent), Fort McMurray (+4 per cent), Calgary (+3 per cent), and Edmonton (+2 per cent).

The average price for home sales declined in Lethbridge (-2 per cent) Lloydminster (-3 per cent), South Central Alberta (-9 per cent), Alberta west (-14 per cent) and Medicine Hat (-16 per cent).

New listings on the MLS® Systems of real estate boards in Alberta numbered 3,670 units in December. This was down three per cent from a year earlier. Active residential listings numbered 19,538 units at the end of December, down three per cent from December 2010.

There were 5.7 months of inventory at the end of December 2011 on a seasonally adjusted basis, down slightly from 5.9 months at the end of November. 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 value of all home sales in the province totaled $988.3 million in December 2011, up three per cent from December 2010. The dollar volume of all home sales in Canada rose six per cent on a year-over-year basis.

Sales of all types of properties in Alberta numbered 3,108 units in December, an increase of three per cent from December 2010. The value of those sales amounted to $1.1 billion, up six per cent from year-ago levels.

The combined value of home sales activity in Calgary was $492 million in December 2011, a three per cent increase from year-ago levels. A total of 1,253 home sales were recorded through the MLS® System of the Calgary Real Estate Board in December, up 16 per cent from a year earlier.

The total value of home sales in Edmonton was $279.4 million in December 2011, up six per cent on a year-over-year basis. There were 885 home sales recorded through the MLS® System of the Edmonton Association of REALTORS®, an increase of four per cent from December 2010.

Important information

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.