By Sheldon Spackman

low mortgage rates helping

Central Alberta home sales in November higher than last year

Dec 15, 2020 | 1:54 PM

There’s more positive news in the local housing market as the number of units sold and their average sale prices are up from last year throughout the region.

According to the latest stats released by Central Alberta Realtors Association (CARA), 380 units were sold throughout central Alberta in November – up from 256 units sold in November, 2019.

Year-to-date numbers are also higher with 4,037 units sold throughout the region. That’s up from 3,901 units sold to the end of November last year.

Average sale prices are also higher throughout central Alberta with $326,534 being the average sale price last month – up from $289,207 during the same month last year.

The average number of days to sell a residential property, however, has remained fairly consistent with the average being 101 days last month – up from 100 days in November, 2019.

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CARA president Allan Melbourne says the market remains active despite the pandemic.

“Mortgage rates are super low right now, so I think that’s encouraging people to get out,” says Melbourne. “I think we’re getting close to the previous year. What the pandemic has done is basically shut down sales in March, April and May and then the last six months have been fairly normal.”

In Red Deer, there were 118 units sold last month – up from 91 in the same month last year and the highest November total for the city over the past four years.

Year-to-date numbers, however, show 1,174 units sold to the end of November – down from 1,225 to this point last year.

The average sale price in Red Deer last month came in at $315,763 – down slightly from $321,141 in November, 2019.

The average number of days to sell a home also took longer at 75 days last month – up from an average of 64 days to sell a home in November, 2019.

Melbourne admits, however, they will continue to keep a close eye on pricing and supply as the New Year begins.

“Right now we’re under 600 homes active on the market so it’s looking pretty good that way. According to CMHC, we’re clipping along at about 20-21 per cent sales to listing ratio which is balanced. So I think things are on the up and up. I look forward to a much better year in 2021.”

Elsewhere throughout central Alberta in November:

(Community – Units Sold – Average Sale Price – Average Days to Sell)

Blackfalds – 24 – $317,991 – 96

Innisfail – 107 – $280,538 – 52

Lacombe – 193 – $333,290 – 119

Penhold – 57 – $273,650 – 111

Ponoka – 85 – $321,900 – 76

Rocky Mtn. House – 70 – $263,714 – 114

Stettler – 74 – $188,250 – 140

Sylvan Lake – 260 – $312,000 – 80