The “R” word hasn’t been used much in real estate circles since the heady days preceding the 2008 recession. But it’s becoming tough to discuss Central Alberta’s residential resale market without talking about records.
The Central Alberta Realtors Assocition reported on Monday that it processed 503 home sales through the Multiple Lising Service last month — the highest September tally on the books and a healthy 12.3 per cent improvement on the number for the same period a year ago.
Three-quarters of the way through 2014, local Realtors have combined for a series of record or near-record sales months. Their tally to the end of September was up to 4,432 residential deals — the highest ever for a January-to-September period and 12.1 per cent ahead of 2013 to the same point,. and 3.5 per cent above the figure for 2007.
The average selling price of homes sold through the association last month was $313,792, up 8.9 per cent from September 2013. The year-to-date average price was $313,121, a 4.7 per cent improvement from a year ago.
New MLS residential listings in the region last month totalled 709, bringing the inventory of active listings to 2,742. That total is down 6.5 per cent from the listing count of a year ago, and represents enough homes to carry the market for just 5 1/2 months at the current rate of selling.
The association pointed out in its release that MLS sales have been strong across Alberta