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Alberta Real Estate Market Report released

The Alberta Real Estate Association released their October market report. Given the importance of the current market changes we wanted to provide it in its entirety for you. As always, real estate is LOCAL. We would be happy to provide you with information about your specific neighbourhood. 

We want you to have all of the information you need to make the BEST decisions for YOU. 

Please calls us to discuss your specific needs!

 
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Alberta home sales remain down year-over-year in October

The Alberta Real Estate Association (AREA) compiles provincial MLS® sales data for dissemination to REALTORS® and other interested groups. The data that is provided represents statistics provided to AREA by way of the Canadian Real Estate Association (CREA). For more detailed statistical information for Boards/Associations or for individual areas, contact your local real estate Board/Association or your local REALTOR®.

The Alberta Real Estate Association (AREA) reports that a total of 4,327 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in October, down 28.9 per cent from the same month last year. The average MLS® residential price dropped 3.9 per cent from October 2014 to $384,381.

 


 


 

Five of Alberta's ten real estate Boards/Associations saw an increase in monthly residential average prices from year-ago levels:

Board Year-Over-Year Change Year-to-Date Change
South Central Alberta +14.5 per cent +2.0 per cent
Lethbridge Region +11.4 per cent +2.8 per cent
Medicine Hat Region +7.8 per cent +4.6 per cent
Edmonton Region +3.3 per cent +2.3 per cent
Grande Prairie Region +0.1 per cent +0.6 per cent

The five remaining Boards/Associations saw the monthly residential average price decrease to varying degrees from October 2014:

Board Year-over-Year Change Year-to-Date Change
Lloydminster Region -1.7 per cent +1.0 per cent
Calgary Region -4.4 per cent -1.3 per cent
Central Alberta -7.7 per cent +0.6 per cent
Alberta West -10.9 per cent -0.2 per cent
Fort McMurray Region -20.0 per cent -5.5 per cent

Note: The data above is national data and may not perfectly reflect the data reported by a Board/Association. The numbers represented are for the full Board/Association region, rather than city/town proper areas that may be reflected in a board's name. Click here for a general guideline of Board/Association boundaries.

The value of all home sales in the province totalled $1.66 billion for the month, falling 31.7 per cent from October 2014.

 

There were 5.7 months of inventory at the end of October 2015, up from 3.4 months at the same time one year ago. 

 

New listings on the MLS® Systems of real estate boards in Alberta numbered 8,119 units in October, a decrease of 3.3 per cent from a year earlier, while active residential listings numbered 24,743 units at the end of October, up 20.1 per cent from one year earlier.

Nationally, home sales activity was virtually unchanged year-over-year. The national average price, by comparison, rose 8.3 per cent on a year-over-year basis to $454,976.

Click here for the full release, including a breakdown of information by area. For more detailed statistical information, contact your local real estate Board/Association or your local REALTOR®.

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3 Responses to "Alberta Real Estate Market Report released"

JP wrote: wow need to sell quick before homes go down any lower
Joe Tolvay wrote: Wow, how things have changed year over year. Definitely going to be an interesting year ahead, but as with everything, it will be what we make of it for sure!
Serge Bourgoin wrote: What this is telling us is this is the perfect that to take advantage of the buyers market to negotiate a best purchase deal and if you are seller stop waiting before prices drop any further

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