Home resales pick up in region

The pace of home resales in Central Alberta picked up last month, especially in the region surrounding Red Deer. Multiple Listing Service statistics issued by the Central Alberta Realtors Association indicate that 160 homes were sold in Red Deer in March, up from 125 in February.

The pace of home resales in Central Alberta picked up last month, especially in the region surrounding Red Deer.

Multiple Listing Service statistics issued by the Central Alberta Realtors Association indicate that 160 homes were sold in Red Deer in March, up from 125 in February.

However, the tally was down from the same month in 2013, when there were 167 MLS sales in the city.

In the rest of the area covered by the Central Alberta Realtors Association, residential MLS sales last month totalled 247. That compares with 150 in February and 191 in March 2013.

The average selling price in Red Deer this March was $325,889, down from $338,004 in February but an increase from $324,872 a year ago.

For the area outside the city, the average price slipped to $280,157, from $303,146 in February. Last March, the average was $255,769.

The Central Alberta Realtors Association has cautioned that average prices are not a good indicator of market trends, because the types and locations of properties sold vary from period to period.

There were 273 residential listings in Red Deer processed through the MLS system last month, as compared with 183 in February and 226 in March 2013. Outside the city, new listings last month totalled 507 — an increase from 287 in February and from 465 a year ago.