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Alberta Home sales decline year-over -year in July

Alberta home sales decline year-over-year in July

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 5,151 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in July, down 16 per cent from the same month last year.

The average MLS® residential price increased 2.2 per cent from July 2015 to $403,665.

Four of Alberta's 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

Lethbridge Region

+8.3 per cent

+0.6 per cent

Edmonton Region

+2.6 per cent

-0.3 per cent

Lloydminster Region (AB Only)

+2.5 per cent

-4.8 per cent

Calgary Region

+2.0 per cent

+1.1 per cent

The remaining six Boards/Associations saw the monthly residential average price decrease to varying degrees from July 2015:

Board

Year-over-Year Change

Year-to-Date Change

Central Alberta

-2.4 per cent

-3.6 per cent

Medicine Hat Region

-3.3 per cent

-5.1 per cent

South Central Alberta

-4.0 per cent

-16.1 per cent

Grande Prairie Region

-6.2 per cent

-6.1 per cent

Fort McMurray Region

-8.4 per cent

-14.6 per cent

Alberta West

-13.5 per cent

-3.8 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 $2.08 billion for the month, falling 14.2 per cent from July 2015.

There were 5.7 months of inventory at the end of July 2016, up from 4.3 months at the same time one year ago. 

New listings on the MLS® Systems of real estate boards in Alberta numbered 9,756 units in July, a decrease of 4.4 per cent from a year earlier, while active residential listings numbered 29,224 units at the end of July, up 9.8 per cent from one year earlier.

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®.