Central Alberta home sales down year-over-year in February
Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association numbered 197 units in February 2020. This was down 8.8% from February 2019.
On a year-to-date basis, home sales totalled 386 units over the first two months of the year, edging back 1.5% (six sales) from the same period in 2019.
Residential sales activity in all of Alberta, by comparison, increased 11.5% in February 2020 compared to February 2019.
There were 712 new residential listings in February 2020. This was an increase of 24.5% on a year-over-year basis.
The dollar value of all home sales in February 2020 was $58.9 million, down 7.1% from the same month in 2019.
By comparison, the dollar value of all home sales in Alberta rose 12% compared to February 2019.
Overall supply levels had previously been trending lower since peaking in mid-2018 but have started to pick up again. Active residential listings numbered 3,176 units at the end of February, little changed (+0.9%) from the end of February 2019.
Months of inventory numbered 16.1 at the end of February 2020, up from the 14.6 months recorded at the end of February 2019 and above the 10-year average of 12 months 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.
Sales of all property types numbered 217 units in February 2020, down 7.7% from February 2019. The total value of all properties sold was $75.2 million, falling 3.2% from February 2019.
BOARD & ASSOCIATION INFORMATION
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 at www.carassociation.ca and on the national public web site www.REALTOR.ca (residential and commercial and investment properties).
CENTRAL ALBERTA REALTORS® ASSOCIATION
For more information,
Allan Melbourne, President
or Larry Westergard, Executive Officer