Central Alberta home sales down year-over-year in September

Courtesy of CARA (Central Alberta REALTORS Associtaion)

Red Deer - October 17, 2016 - Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association numbered 369 units in September 2016. This was a decline of 10.2 per cent from September 2015.

On a year-to-date basis home sales numbered 3,090 over the first three quarters of 2016. This was a decrease of 16.1 per cent from the same period in 2015.

Sales activity in all of Alberta fell 3.8 per cent from September 2015.

New residential listings on the Association's MLS® System numbered 859 units in September, rising 3.6 per cent from one year ago to set a new record for September.

There were 3.326 active residential listings on the Association's MLS® System at the end of September, rising 12.9 per cent from levels at the end of September 2015.

There were nine months of inventory at the end of September 2016, up from 7.2 months reported at the end of September 2015 and above 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 September 2016 was $117.9 million, down 4.3 per cent from September 2015. The dollar volume of all home sales in Alberta, by comparison, was virtually unchanged on a year-over-year basis.

Sales of all types of properties totalled 392 units in September. This was down nine per cent compared to September 2015. The total value of all property sales amounted to $130.5 million in September, down four per cent on a year-over-year basis.

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).

Contacts:       Sandi Gouchie, President 403-782-3171

Larry Westergard, Executive Officer 403-343-0881

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