October real estate sales are in line with last year

October real estate sales in line with last year but yearly totals still lag

Central Alberta real estate sales in October were in line with last year.

Central Alberta Realtors Association reported 335 sales last month, only one off from a year ago.

For most of the year in Central Alberta, monthly sales have significantly trailed the same month a year earlier.

Sales for the year remain down 14.8 per cent from the same 10 months last year, with 3,245 home sales this year.

There were 615 new listings on the association’s Multiple Listing Service (MLS) last month, down 7.1 per cent from a year ago. That puts the number of active residential listings at 2,968, up 13.8 per cent from a year ago.

At the end of last month, there were 8.9 months of inventory, up from 7.8 months last year. The inventory estimates the number of months it would take to sell the current stock at current sales rates.

The dollar value of home sales in October was $102.9 million, up 2.8 per cent from a year ago.

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