Central Alberta Realtors continued their record ways last month, with 454 Multiple Listing Service home sales — the highest tally ever for an October in this region.
Statistics issued by the Central Alberta Realtors Association said residential sales during the month were up 7.8 per cent over the same period in 2013. For the province as a whole, homes sales in October were up 8.9 per cent from a year ago.
With two months remaining in the year, MLS home sales in the Central Alberta region are tracking 11.7 per cent ahead of the pace for the January-to-October period of 2013.
The average price of the homes sold in October was $322,807, up 11.3 per cent from a year ago. For the year to date, the average price to the end of last month was $314,021, which is 5.3 per cent higher than a year earlier.
Active residential listings in the MLS system for Central Alberta numbered 2,380 at the end of October, which marked a 5.5 per cent slide from 12 months ago.
The total represents about 5.2 months of inventory at the current sales rate, down from six months of inventory as of the same point in 2013, and below the long-term average for this time of the year.