Residential resale activity up slightly last month

Residential resale activity in Central Alberta was slightly higher last month than in February 2010, even though sales in Red Deer fell more than 10 per cent.

Residential resale activity in Central Alberta was slightly higher last month than in February 2010, even though sales in Red Deer fell more than 10 per cent.

Statistics compiled by the Central Alberta Realtors Association indicate that 103 homes in the city sold through the Multiple Listing Service last month, down from 115 in February 2010. But this decline was more than offset by improved activity elsewhere in the region, where the 125 homes that sold in February marked a 15 per cent improvement over the 109 deals that closed the previous year.

The average selling price for homes of all types in Red Deer last month was $268,133, down from $299,660 last February. Elsewhere in the area covered by the association, the average selling price climbed to $251,127 from $239,984.

Residential listings in both Red Deer and the surrounding area continued to decline. There were 231 new listings in the city last month, down eight per cent from the 252 processed in February 2010; while the outlying region produced 401 listings, a 16 per cent drop from the 478 listings recorded the previous February.

New listings in both areas were also down in January. The city’s two-month tally to start 2011 was off 12 per cent from 2010, and the remainder of the region was 26 per cent lower to start this year than last.