Home sales still outpacing 2011

Home sales in Central Alberta still exceed last year’s numbers, according to the latest MLS stats released by the Central Alberta Realtors Association.

Home sales in Central Alberta still exceed last year’s numbers, according to the latest MLS stats released by the Central Alberta Realtors Association.

There were 198 MLS sales in Red Deer and 262 in the surrounding region last month, which marked a 21 per cent and a 16 per cent increase respectively over May 2011, when there were 179 city sales and 225 deals in the outlying area. Last month’s figures were better than April 2012, when there were 197 sales in Red Deer and 247 elsewhere.

Cumulative home sales for the year to date are up 18 per cent in Red Deer — to 769 from 649. In the remainder of the region, January-to-May sales increased 27 per cent — to 1,010 from 830.

The average price of homes sold through the MLS system in Red Deer last month was $320,442, up from $291,396 in May 2011 and $312,094 in April 2012. The average for the rural area in May was $252,817, slightly higher than $252,263 a year earlier and an improvement over $249,998 this April.

Average prices include homes of all types, so may not be representative of market trends. The Central Alberta Realtors Association processed 1,049 residential listings in May, with 304 of these in Red Deer and 746 outside. That was down from the 1,075 new listings last May, of which 331 were in Red Deer and 744 in the surrounding region.