Central Alberta 2017 house sales stats have familiar ring

House sales throughout region last year very close to 2016

Central Alberta’s home sales scene last year was a case of déjà vu.

By the time the last set of keys had been handed over at the end of last year, 3,819 units had been sold in the area. That was down slightly — 1.5 per cent — from 2016, according to Multiple Listing Service statistics provided by Central Alberta Realtors Association.

Last December was almost a carbon copy of the previous December with 191 residential sales — up 2.1 per cent or four sales.The dollar value of all home sales in December 2017 was $58.4 million, up 7.6 per cent from a year earlier.

Statistics released earlier this month show the number of residential properties sold in Red Deer fell by 9.8 per cent in 2017 compared with 2016.

In 2017, 1,389 residential properties were sold, which includes family homes and condos, compared with 1,539 the previous year.

Realtors Association president Mike Snell said that while 2017 may have been slightly off 2016’s numbers it was not as bad a year as some realtors had projected earlier.

“I know in conversation some realtors thought the year was really tough and others thought the year was really good.

“The best way that I could put it was the 2017 market was challenging but it wasn’t the worse situation that it could have been. There was still a lot of activity.”

Snell classifies the market as holdings its own.

“We definitely started seeing some increased buyer confidence.”

Making long-term predictions so early in the year is difficult at best but his expectation is a similar year to last year. “January, so far, has been steady.”

Real estate markets nationwide are facing some head winds. New mortgage stress test rules kicked in at the start of the year, which raises the bar on qualifying for a mortgage.

As well, two weeks ago, the Bank of Canada raised the trend-setting overnight lending rate a quarter point to 1.25 per cent.


Like us on Facebook and follow us on Twitter

Just Posted

Canyon Ski Resort season wraps up Sunday

Central Alberta skiers and snowboarders only have a couple more days to… Continue reading

Future space crunch is feared, as no new schools for Red Deer are in the budget

Only local modernization will be at Father Lacombe Catholic School in Lacombe

A million dollars for Red Deer hospital is not nearly enough, says Mayor Veer

Mayor is concerned Red Deer hospital is still not on province’s five-year capital list

No drug treatment centre, or additional shelter beds for Red Deer

But Red Deer will get more affordable housing and sustained capital funding

Hit and run adjourned to April

Crash into Papa Baldy’s Pizza

WATCH: Hundreds come to Red Deer Rebels Fan Fest

The Red Deer Rebels met with legions of their of fans just… Continue reading

Supreme Court rules former Stephen Harper aide guilty of influence peddling

OTTAWA — Canada’s highest court has upheld an influence peddling conviction against… Continue reading

2 killed, dozen hurt in French supermarket hostage-taking

PARIS — An armed man took hostages in a supermarket in southern… Continue reading

READER PHOTO: Red Deer students celebrate Canadian courage at Juno Beach

Teenagers from Red Deer’s Lindsay Thurber Comprehensive High School are learning about… Continue reading

UN report: Loss of plants, animals making a lonelier planet

WASHINGTON — New United Nations scientific reports diagnose that Earth is getting… Continue reading

Excavator frees dolphins trapped by pack ice in Newfoundland harbour

HEARTS DELIGHT, N.L. — A pod of dolphins trapped by pack ice… Continue reading

Structure fire destroys home in Mirror

A house in Mirror is completely damaged due to an overnight structure… Continue reading

Trudeau warns senators not to thwart will of Canadians on marijuana bill

OTTAWA — Prime Minister Justin Trudeau is reminding senators that his government… Continue reading

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month