Author: Steven

Alberta home sales and average price both up year-over-year in May 2017. Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 6,251 units in May 2017, rising 9.1% from a year earlier. That said, it was still just below the 10-year average for the month.On a year-to-date basis, home sales totaled 23,369 units over the first five months of the year, up 12.8% from the same period in 2016. Nationally, home sales activity was down 1.6% from year-ago levels in May 2017. The provincial average price for homes sold in May 2017 was a record $412,382, rising 2.3% from a year earlier. The year-to-date average price figure was $402,557, up 2.5% from the first five months of 2016. The national average price, by comparison, rose 4.3% on a year-over-year basis to $530,304 in May 2017. Across Alberta, monthly residential average prices were up from year-ago levels in Fort McMurray (+43.6% due to wildfires last May), Lethbridge (+6.8%), South Central Alberta (+4.2%), Medicine Hat (+2.8%), Edmonton board (+2.2%), and Calgary (+1.8%). By contrast, average prices declined year-over-year in Central Alberta (-0.9%), Grande Prairie (-1.4%), Alberta West (-5.2%), and Lloydminster AB (-8.4%). New listings on the MLS® Systems of real estate boards in Alberta numbered 13,228 units in May, rising 22.3% from a year earlier. Active residential listings numbered 32,336 units at the end of May, up 8.9% from one year earlier. There were 5.2 months of inventory at the end of May 2017, unchanged from the same time one year ago but slightly 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 value of all home sales in the province totaled $2.6 billion in May 2017, rising 11.7% from May 2016. The dollar volume of all home sales in Canada rose 2.6% on a year-over-year basis. Sales of all property types in Alberta numbered 6,555 units in May, up 6.2% from May 2016. The value of those sales amounted to $2.8 billion, an increase of 8.7% from a year earlier. A total of 2,657 home sales were recorded through the MLS® System of the Calgary Real Estate Board in May, rising 9% from a year earlier. The combined value of home sales activity in Calgary was $1.3 billion, 10.9% above year-ago levels. There were 2,211 home sales recorded through the MLS® System of the REALTORS® Association of Edmonton, up 7.2% from May 2016. The total value of home sales in Edmonton was $851.4 million in May 2017, up 9.6% on a year-over-year basis. Source: CREA

Alberta home sales rise on year-over-year basis in February 2017. Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 3,830 units in February 2017, rising 20.8% from a year earlier. This stood just below but broadly in line with the five and 10-year averages for the month.On a year-to-date basis home sales totaled 6,509 units over the first two months of the year, up 19.5% from the same period in 2016.Nationally, home sales activity was down 2.6% from year-ago levels in February 2017.The provincial average price for homes sold in February 2017 was $389,943, edging up just 0.5% from a year earlier. The year-to-date average price figure was $387,102, up 1.6% from the first two months of 2016. Across Alberta, monthly residential average prices were up from year-ago levels in Calgary (+2.6%), Grande Prairie (7.2%), Lloydminster AB (15.6%) and Alberta West (8.4%). By contrast, average prices declined year-over-year in Fort McMurray (-19.9%), Lethbridge (-4.2%), Edmonton Board (-0.5%), Central Alberta (-6.3%), Medicine Hat (-10%) and South Central Alberta (-4%).