Residential resale market cools

Central Alberta’s residential resale market cooled in November, with 126 Multiple Listing Service sales in Red Deer and 149 in the surrounding region.

Central Alberta’s residential resale market cooled in November, with 126 Multiple Listing Service sales in Red Deer and 149 in the surrounding region.

The number for Red Deer was down 11 per cent from the 142 sales in October, but unchanged from the figure a year earlier. In the case of the area outside the city, November’s sales were 24 per cent lower than the October number of 196, and down 14 per cent from the November 2011 tally of 174.

With one month remaining in 2012, accumulated MLS home sales in Red Deer are at 1,624, a 10 per cent improvement over the 1,477 deals recorded to the same point last year.

Elsewhere in Central Alberta, year-to-date sales have hit 2,374, a 15 per cent jump from the 2,068 sales from January to November 2011.

The average selling price of a home in Red Deer last month was $313,558, down from $323,937 in October but an improvement from the November 2011 average of $291,042.

Outside the city, the average price in November was $251,562, down slightly from $252,577 in October but up from $233,885 a year ago.

Because average prices include homes of all types and sizes, they may not provide a good indication of general market trends.

The Central Alberta Realtors Association processed 124 new residential listings in November, down from 208 in October and 152 in November 2011.

In the surrounding region, new home listings last month totalled 196, down from 308 in October and 335 in November 2011.

So far this year, there have been 2,519 new residential listings in Red Deer and 4,97 elsewhere in Central Alberta.

Those figures compare with 2,716 in the city and 5,324 outside during the same period in 2011.

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