Central Alberta home sales post strong start to 2014

Jim McLeod February 28, 2014

Red Deer, February 25th 2014 – Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association came in above year-ago levels for the 13th consecutive month in January 2014. Home sales numbered 261 units in January 2014, an increase of eight per cent from January 2013. This was the highest level for the month in seven years and the third best January ever.

Sales activity in all of Alberta was up six per cent from a year earlier in January 2014. New residential listings numbered 565 units in January, down six per cent from yearago levels. There were 2,003 active residential listings on the Association’s MLS® System at the end of January, down nine per cent from levels at the end of January 2013. Active supply has been trending downward since the fall of 2013.

There were 7.7 months of inventory at the end of January 2014, down from 9.1 months reported at the end of January 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 January 2014 was $81.8 million, up 23 per cent from a year earlier. The dollar value of home sales in all of Alberta was up 13 per cent from January 2013. Sales of all types of properties totaled 284 units in January. This was up 16 per cent compared to January 2013. The total value of all property sales amounted to $93.4 million in January, rising 39 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.cara.ca, www.REALTOR.ca (residential properties) and ICX.CA (commercial and investment properties).

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