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Annual sales activity in 2009 tops previous year

http://creastats.crea.ca/area/

Annual residential sales in Alberta were up in 2009 from 2008 levels, bolstered by a stronger performance in the second half of the year.

According to statistics provided by real estate boards in Alberta, home sales numbered 3,042 units in December 2009, an increase of 62 per cent from the same month in 2008. Current sales are on par with the month in 2007, but remain below activity in the peak years from 2004 to 2006. Nationally, home sales jumped 72 per cent from one year earlier.

Calgary contributed most to the provincial increase in monthly activity, with a gain of 77 per cent from one year earlier. Sales activity in Edmonton saw an increase of 56 per cent from December 2008.

On an annual basis, provincial home sales were up three per cent from 2008 to 57,786 units in 2009. It was the fourth best year on record for sales activity.

The provincial average price for homes sold in December 2009 was $350,896, up seven per cent on a year-over-year basis. This is the fifth consecutive rise in the average home price. By comparison, the national average price was up 19 per cent from a year earlier to $337,410.

The average price for all homes sold in Alberta in 2009 was $341,201, down three per cent from 2008.

Monthly residential average prices were up from year-ago levels in December in Calgary (+9 per cent), Central Alberta (+3 per cent), Edmonton (+3 per cent), Fort McMurray (+5 per cent), Grande Prairie (+5 per cent), North Eastern Alberta (+2 per cent), and South Central Alberta (+9 per cent).

The value of all home sales in the province totalled $1.1 billion in December 2009, jumping 73 per cent from year-ago levels. Nationally, the dollar volume of all home sales more than doubled from one year ago. The annual dollar value of all homes sold in Alberta in 2009 was $19.7 billion, edging down one per cent from 2008.

Total sales in Alberta numbered 3,333 units in December, an increase of 61 per cent from December 2008. The value of those sales amounted to $1.2 billion, rising 67 per cent from year-ago levels.

New listings on the MLS® Systems of real estate boards in Alberta continued trending downward in December, though the pace of year-over-year declines has slowed considerably. New residential listings were down three per cent from year-ago levels to 3,975 units in December 2009.

The combination of strong demand and fewer new listings continues to draw down the supply of homes available for sale on the MLS® Systems of boards in Alberta. Active residential listings dropped 26 per cent from one year earlier to 16,737 units at the end of December 2009. This is the 10th consecutive decline from year-ago levels.

There were 5.5 months of inventory at the end of December, well below the recessionary peak recorded one year earlier (12.1 months). The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The combined value of home sales activity in Calgary was $541.8 million in December 2009, a 92 per cent leap from year-ago levels. A total of 1,374 home sales were recorded through the MLS® System of the Calgary Real Estate Board in December, up 77 per cent from one year earlier.

The total value of home sales in Edmonton was $302.6 million in December 2009, rising 60 per cent year-over-year. There were 948 home sales recorded through the MLS® System of the Edmonton Association of REALTORS®, an increase of 56 per cent from December 2008.

Alberta December 2009

Residential MLS®

All MLS®

Average MLS® Price

Calgary $      541,768,225 $    594,084,285 $ 394,300
Central Alberta $       50,952,875 $    65,357,050 $ 279,961
Edmonton $    302,602,292 $    341,875,832 $ 319,201
Fort McMurray $    73,312,073 $    73,312,073 $ 551,219
Grand Prairie $      22,944,467 $      25,588,467 $ 257,803
Lethbridge $      21,551,128 $      23,251,453 $ 224,491
Lloydminster $      11,280,725 $      12,593,071 $ 230,219
Medicine Hat $      17,476,500 $      19,801,700 $ 242,729
North Eastern Alberta $      6,412,500 $      8,216,504 $ 278,804
South Central Alberta $        5,045,060 $        5,852,560 $ 201,802
West Central Alberta $      14,079,550 $      19,903,150 $ 276,070
Provincial $ 1,067,425,395 $ 1,189,836,145 $ 350,896

Important information

Please note the Brooks Real Estate Board Co-operative Ltd. is now called the REALTORS® Association of South Central Alberta.

The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The Alberta Real Estate Association represents over 10,185 brokers, salespeople and affiliate members throughout the province. AREA serves its members through a wide variety of educational programs, publications and special services. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict code of ethics.


For further information contact:

Bill Fowler, Director of Industry and Government Relations
bfowler@areahub.ca

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