There were 7.4 months of inventory at the end of January 2015, up from 4.4 months at the same time one year ago and above with 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.
Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 2,642 units in January 2015, down 28.2 per cent from a year earlier.
The provincial average price for homes sold in January 2015 was $381,757, a decrease of 1.6 per cent from January 2014. The national average price, by comparison, rose 3.1 per cent on a year-over-year basis to $401,143.
Active residential listings numbered 19,429 units at the end of January, up 20.4 per cent from one year earlier.
Sales of all property types in Alberta numbered 2,865 units in January, down 27.7 per cent from January 2014. The value of those sales amounted to $1.1 billion, falling 29.5 per cent from a year earlier.
There were 787 home sales recorded through the MLS® System of the REALTORS® Association of Edmonton, down 23.1 per cent from January 2014. The total value of home sales in Edmonton was $289.6 million in January 2015, a decrease of 17.7 per cent on a year-over-year basis.
Keep in mind:
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.
Statistics provided by the Alberta Real Estate Association. The Alberta Real Estate Association represents the interest and concerns of 10 regional real estate boards and more than 10,000 Alberta REALTORS®.