October strong month for local sales activity

Comparing 2009 real estate stats to 2008 figures has been a depressing exercise for much of this year.

Comparing 2009 real estate stats to 2008 figures has been a depressing exercise for much of this year.

Not so last month, when the 314 homes sold in Central Alberta marked a nine per cent improvement over the 287 deals from 2008.

According to the Central Alberta Realtors Association, this year-over-year jump was the largest in more than a year.

“October was a strong month for sales activity,” said association president Derek Austin, in a news release. “The market continues to firm up as rebounding sales and fewer new listings keep drawing down inventories.”

This decline in listings was reflected in the 675 homes that hit the Multiple Listing Service for Central Alberta in October. A year ago, the figure was 760, a year-over-year drop of 11 per cent.

It was the 10th consecutive month that new MLS listings were down from the corresponding period in 2008. The 2,233 active listings in the MLS system at the end of October was seven per cent lower than on Oct. 31, 2008, when there were 2,394 listings.

The association calculated that there was 7.1 months of residential inventory on the local market as of the end of October. That compares with a peak inventory last December equal to 17 months of demand.

Residential sales last month included 151 transactions in Red Deer with an average price of $293,269. That compared with 128 sales at an average price of $297,452 in October 2008.

For the area outside the city, there were 163 sales, with these averaging $242,055. Last October, there were 159 residential sales with an average price of $246,984.

The more active sales market was evident throughout Alberta in October, with 30 per cent more homes sold in the province than in October 2008.

Just Posted

Updated: Red Deer welcomes 2019 Canada Winter Games Team Alberta

About 250 Alberta athletes are participating in the Games

Trump says ‘things are going very well’ with North Korea

WASHINGTON — President Donald Trump said Saturday that “things are going very… Continue reading

NDP won’t stop until Trans Mountain is built, says minister

Deron Bilous speaks at Red Deer chamber luncheon

Trudeau fields questions at town hall meeting in St-Hyacinthe, Que.

SAINT-HYACINTHE, Que. — Ottawa’s decision to sign the UN compact for migration… Continue reading

Americans face deadline to file paperwork for Huawei executive’s extradition

OTTAWA — American authorities are facing a key deadline at the end… Continue reading

VIDEO: Students in MAGA hats mock Native American at Indigenous Peoples March

Diocese in Kentucky says it is investigating the matter, caught on video by onlookers

CONSUMER REPORT: What to buy each month in 2019 to save money

Resolve to buy all of the things you want and need, but pay less money for them

Anxiety in Alaska as endless aftershocks rattle residents

Seismologists expect the temblors to continue for months, although the frequency has lessened

Women’s March returns across the U.S. amid shutdown and controversy

The original march in 2017, the day after President Donald Trump’s inauguration, drew hundreds of thousands of people

Kriechmayr edges Swiss favourite Feuz to win WCup downhill

WENGEN, Switzerland — It takes a special run to beat Switzerland’s best… Continue reading

WestJet plane heading to Victoria slides off Edmonton runway, no injuries

EDMONTON — A WestJet plane has slid off an icy taxiway at… Continue reading

Sam Bennett scores twice, Flames beat Red Wings 6-4

Flames 6, Red Wings 4 CALGARY — Sam Bennett scored twice including… Continue reading

Rare ‘super blood wolf moon’ takes to the skies this Sunday

Celestial event happens only three times this century

Most Read