March house sales up

Central Alberta residential sales continue to show improvement with sales up 9.2 per cent last month

Residential sales were up 9.2 per cent in Central Alberta last month as home sale markets continue to improve.

There were 321 residential units of all kinds sold in March, compared with 294 for the same month last year, according to Multiple Listing Service statistics provided by the Central Alberta Realtors Association.

For the first three months of the year, total sales were up seven per cent to 746 units over the same quarter.

In dollar volume, March sales hit $104.1 million, up 22.5 per cent for the same month last year. Over the first three months, the dollar volume is up 12.3 per cent to $233.4 million.

The amount of inventory was down to 9.3 months in March, slightly below the 9.5 months in the same month a year ago. Inventory is calculated by the number of months it would take to sell current inventories at the current rate of sales activity.