By rdnewsNOW staff

real estate update

Home sales continue to trail last year’s pace

Jun 24, 2019 | 11:02 AM

This year continues to be a slower one for the local real estate market.

According to the Central Alberta Realtors Association (CARA), MLS residential sales numbered 398 units last month, down 7.4% from May 2018.

Local home sales totalled 1,401 units over the first five months of 2019, a year-over-year decrease of 10.9%.

By comparison, CARA says residential sales activity in all of Alberta was up 4.6% in May 2019 compared to May 2018.

The number of central Alberta homes for sale is way down from last year as there were 1,016 new residential listings in May 2019, a 20.1% drop from last year.

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CARA says the dollar value of all local home sales last month was $118.4 million, down 8.5% from the same month in 2018. By comparison, the dollar value of all home sales in Alberta edged up 3% compared to May 2018.

Sales of all property types numbered 434 units in May 2019, down 4.6% from May 2018.

The total value of all properties sold was $145.7 million, little changed (+0.1%) from May 2018.

(With file from Central Alberta Realtors Association website)