House prices in Alberta are going up in many communities, reports the ATB. (THE CANADIAN PRESS/Graeme Roy)

House prices in Alberta are going up in many communities, reports the ATB. (THE CANADIAN PRESS/Graeme Roy)

Alberta’s house prices are on the rise: ATB

Supply has been low, relative to demand

House prices are on the rise in Alberta, reports the Alberta Treasury Branch.

According to the latest statistics from the Alberta Real Estate Association, the average resale price of residential properties in Alberta was 19 per cent higher in March 2021 than in March 2020.

“The persistently low levels of supply relative to demand have supported growth in home prices across most of the province,” stated the association.

The price increased across all housing types (detached, semi-detached, row and apartment), with the average for detached homes up the most at 21 per cent.

Average prices increased in six of the seven cities included in the report. Grande Prairie was the exception, recording a seven per cent drop compared to March 2020.

The average price in Fort McMurray was almost flat, posting growth of just one per cent between March last year and this year.

At 13 per cent in Calgary and 14 per cent in Edmonton, Alberta’s two largest cities both saw significant price growth over this period.

Resale activity was particularly strong at 8,500 sales in March 2021. This represents an increase of 123 per cent over March 2020.

“Strong sales combined with lower inventories caused the months of supply to fall below three months in March. Provincially this is the lowest level recorded for March since 2007,” states the Alberta Real Estate Association.

According to ATB’s The Owl publication, it is important to keep in mind that these statistics refer to aggregate averages and do not necessarily reflect the selling price of individual properties.

“With that said, they are a clear sign that the overall direction of both prices and activity in Alberta has been up compared to where things stood at the start of the pandemic.”

Real Estate

Just Posted

Ella Stoner, five, is ready to cut off her hair and donate it to A Child’s Voice Foundation. (Photo by Lauren Stoner Photography)
Central Alberta girl to donate her ‘princess hair’ to A Child’s Voice Foundation

A five-year-old girl from Rimbey has never had a haircut before. Now,… Continue reading

Asymptomatic testing will now be available for "priority groups" who are most likely to spread the COVID-19 virus to vulnerable or at-risk populations. File photo by THE CANADIAN PRESS
Alberta adds 1,195 new COVID-19 cases Saturday

Red Deer has dropped to 760 active cases

Lacombe-Ponoka MLA Ron Orr
Central Alberta MLAs comment on UCP members kicked out of caucus

A pair of central Alberta MLAs have commented on the two United… Continue reading

Contributed photo
Johanna Hannaford: Central Alberta designer offers inclusive clothing

By Stephanie Rhodes Local designer Johanna Hannaford’s inclusive clothing creations are smashing… Continue reading

Red life-ring with splash
Started from the bottom: How a family business started and grew in central Alberta

By Carina Moran We started our business in the basement of our… Continue reading

Vancouver Canucks' Zack MacEwen (71), Travis Boyd (72) and Jimmy Vesey (24) celebrate a goal against the Edmonton Oilers during third period NHL action in Edmonton on Saturday, May 15, 2021.THE CANADIAN PRESS/Jason Franson
Big third period lifts Vancouver Canucks to 4-1 victory over Edmonton Oilers

Canucks 4 Oilers 1 EDMONTON — Matthew Highmore scored twice in the… Continue reading

A vial of the Medicago vaccine sits on a surface. CARe Clinic, located in Red Deer, has been selected to participate in the third phase of vaccine study. (Photo courtesy www.medicago.com)
Canada’s vaccine rollout operation won’t miss a beat with new military leader: expert

DARTMOUTH — The sudden departure of the senior military officer in charge… Continue reading

Quebec Premier Francois Legault speaks during a news conference on the COVID-19 pandemic, Tuesday, September 29, 2020 at the legislature in Quebec City. THE CANADIAN PRESS/Jacques Boissinot
Quebec premier argues province has power to amend constitution in letter to Trudeau

MONTREAL — Quebec Premier François Legault has written a letter to Prime… Continue reading

A demonstrator stands in front of riot police officers during a banned protest in support of Palestinians in the Gaza Strip, in Paris, Saturday, May, 15, 2021. Marches in support of Palestinians in the Gaza Strip were being held Saturday in a dozen French cities, but the focus was on Paris where riot police countered organizers who said they would defy a ban on the protest, ordered on the grounds that it risked turning violent. (AP Photo/Rafael Yaghobzadeh)
Police fire tear gas on banned Palestinian march in Paris

PARIS (AP) — French riot police fired tear gas and used water… Continue reading

Photo by The Associated Press
NYC Pride parade bans police; Gay officers ‘disheartened’

NEW YORK (AP) — Organizers of New York City’s Pride events said… Continue reading

Welcoming cowboy boots at the historic and colourful Last Chance Saloon in the ghost town of Wayne near Drumheller, Alta., on Thursday, Sept. 19, 2019. The bar and hotel are up for sale. THE CANADIAN PRESS/Jeff McIntosh
‘It was a going concern’: Remaining bar and hotel in Alberta coal ghost town for sale

WAYNE, Alta. — Built during the First World War, it survived the… Continue reading

A letter from a bottle that washed up in New Brunswick in 2017 is shown in an undated handout photo. A team of researchers from Université du Québec à Rimouski are trying to solve the mystery of whether a letter in a bottle that washed up in New Brunswick in 2017 was indeed from a young victim of Titanic shipwreck or simply a hoax. THE CANADIAN PRESS/HO, N. Beaudry, UQAR *MANDATORY CREDIT*
Real or hoax? Quebec scholars probe mystery letter allegedly from Titanic passenger

MONTREAL — Researchers from Université du Québec à Rimouski are trying to… Continue reading

Minister of Transport Marc Garneau takes part in a press conference on Parliament Hill in Ottawa on Tuesday, Nov. 26, 2019. Advocates, experts and opposition MPs say correspondence showing close communication between the federal Transport Department and the Canadian Transportation Agency regarding passenger refunds throws into question the independence of the CTA, an arm’s-length body. THE CANADIAN PRESS/Sean Kilpatrick
Emails reveal close communication between government, transport regulator on refunds

OTTAWA — Advocates, experts and opposition MPs say correspondence showing close communication… Continue reading

Most Read