Market Report: June 2018

Nationally, home sales activity was down 10.7% from year-ago levels in June 2018. The national average price, by comparison, fell 1.3% on a year-over-year basis to $495,797 in June 2018. 

Sales of all property types in Alberta numbered 6,324 units in June; this was down 5.8% from June 2017. The total value of all properties sold was $2.6 billion, down 6.6% from last year.

A total of 2,383 home sales were recorded through the MLS^® System of the Calgary Real Estate Board in June 2018, down 10.4% from a year earlier. The combined value of home sales activity in Calgary was $1.1 billion, down 10.9% from year-ago levels. 

There were 2,148 home sales recorded through the MLS^® System of the REALTORS^® Association of Edmonton, down 7.3% from June 2017. The total value of home sales in Edmonton was $813.2 million in June 2018, down 10.3% on a year-over-year basis. 

Across Alberta, monthly residential average prices were up from year-ago levels in Fort McMurray (+8.2%), Grande Prairie (+5.3%), and Medicine Hat (+2.2%). By contrast, average prices declined in Calgary (-0.6%), South Central Alberta (-0.7%), Lethbridge (-1.9%), Edmonton (-3.3%), Central Alberta (-5.2%), Alberta West (-7.0%) and Lloydminster (-7.9%).  

Active residential listings numbered  39,310 units at the end of June. This was an increase of 16.9% from the end of June 2017 and marked a record for this time of the year.

The dollar value of all home sales in the province in June 2018 was $2.4 billion, down 8.5% from the same month in 2017.

The dollar value of all home sales in Canada fell 11.8% 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 June months of inventory ratio was at 6.6, up from the 5.2 months recorded at the end of June 2017 and above the 10-year average of 4.8 months for this time of year. A score of 6.4 is still generally thought of as a "balance market," not favouring either the buyer or seller.