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Alberta reported 2,984 units sold through the MLS® systems of real estate Boards in Alberta in December; an increase of 6.8% from a year earlier. It was also a four-year high for the month of January.
The provincial average price for homes sold in January 2018 was $380,230, down 1.5% from a year earlier.
Nationally, home sales activity was down 2.4% from year-ago levels in January 2018. The national average price, by comparison, rose 2.3% on a year-over-year basis to $481,562 in January 2018.
Sales of all property types in Alberta numbered 3,156 units in January, up 6.9% from January 2017. The value of those sales amounted to $1.2 billion, an increase of 4.8% from a year earlier.
A total of 1,140 home sales were recorded through the MLS® System of the Calgary Real Estate Board in January 2018, down 0.6% from a year earlier. The combined value of home sales activity in Calgary was $515.2 million, down 0.5% from last year's levels.
There were 1,069 homes sales recorded through the MLS® system if the REALTORS® Association of Edmonton, up 9.6% from January 2017. The total value of home sales in Edmonton was $380.1 million in January 2018, up 7.2% on a year-over-year basis.
Across Alberta, monthly residential average prices were up from year-ago levels in South Central Alberta (+64.6%), Medicine Hat (+22.5%), Fort McMurray (+12.4%), Calgary (+0.2%), and Grande Prairie (+0.1%). Prices declined in Edmonton (-2.3%), Central Alberta (-4.7%), Alberta West (-12.2%), and Lloydminster (-18%).
Active residential listings numbered 24,247 units at the end of January, up 6.9% from one year earlier. This marked a nine-year high for this time of year.
The dollar value of all homes sales in Canada edged down 0.1% on a year-over-year basis.
The months of inventory ratio (total inventory/monthly sales activity) continues to be an important market indicator, comparing the number of months it would take to sell current inventories at the current rate of sales activity. This ratio can suggest if the market is moving quickly or slowly, and how long the average property may stay on the active market. The December months of inventory ratio was at 8.1. A score of 6.4 is still generally thought of as a "balance market," not favouring either the buyer or seller.
Last month’s Market Report is also available online.
The data provided herein is national data and may not perfectly reflect the data reported by a Board/Association. For more specific information, please contact the local Board/Association representing your area of interest. Click here for a guideline of Board/Association boundaries.
AREA represents more than 10,000 REALTORS® and 10 real estate Boards/Associations province-wide and provides world-class leadership that positively shapes the Alberta real estate profession, enhances member professionalism, and reinforces the critical value REALTORS® deliver to both buyers and sellers.
For more information on market reporting, please contact AREA Communications or 1.800.661.02