Central Alberta residential sales were up eight per cent over the previous year through 11 months.
To the end of November, there were 5,207 residential sales of all kinds – detached, semi-detached, rowhouses and apartments – compared with 4,819 in 2023. In 2022, there were 5,414 sales at the same point in the year, according to statistics provided by Central Alberta Realtors Association.
Average prices were also up significantly, just under 12 per cent to $408,058 from $364,371 at the same time last year. Since 2022 when the average sale price was $285,000, prices are up 43 per cent in the region.
Low inventory has been putting pressure on prices all years, local realtors have said. The lack of options for home buyers means desirable properties do not remain on the market for long. It only takes 55 days on average to sell a property, up slightly from the year before when it was 53 days.
Sales were similar to last year in most central Alberta communities.
In Blackfalds, 256 residential units sold, compared with 250 in the first 11 months of 2023. In Innisfail, sales dipped slightly to 148 fro 144 a year earlier. In Lacombe, sales were down to 225 from 231 and in Penhold there were 89 sales compared with 81.
Sales were stronger in Ponoka, with 150 sales through November, compared with 123 last year. In Red Deer, sales were stable at 1,736 compared with 1,744 a year earlier. Rocky Mountain House was similar with 132 sales, compared with 136 in 2023. Stettler had 110 sales, compared with 101 and Sylvan Lake had 497 compared with 438.
In the rural municipalities, sales were up to 238 in Clearwater County from 228, in Lacombe County 431 from 419, Ponoka County 305 from 285, Red Deer County 1,034 from 958 and Stettler County 166 from 155.
