Residential sales activity reported through the MLS® Systems of real estate boards in Alberta numbered 3,170 units in February 2016, down eight per cent from a year earlier.
Nationally, home sales activity rose 18.7 per cent from year-ago levels in February 2016.
The provincial average price for homes sold in February 2016 was $388,037, up 0.6 per cent from a year earlier. The national average price, by comparison, rose 16.9 per cent on a year-over-year basis to $503,057.
Monthly residential average prices were up from year-ago levels in South Central Alberta (+11.9 per cent), Central Alberta (+4.3 per cent), Calgary (+2.1 per cent), Medicine Hat (+0.9 per cent), and Lethbridge (+0.9 per cent). In contrast, average prices decreased year-over-year in Edmonton (-0.5 per cent), Alberta West (-5.3 per cent), Grande Prairie (-9.2 per cent), Fort McMurray (-11.4 per cent) and Lloydminster (AB) (-14.9 per cent).
New listings on the MLS® Systems of real estate boards in Alberta numbered 8,990 units in February, a decrease of 8.5 per cent from a year earlier.
Active residential listings numbered 25,065 units at the end of February, up 14.4 per cent from one year earlier.
There were 7.9 months of inventory at the end of February 2016, up from 6.4 months at the same time one year ago and well above the long-run average for this time of year. 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 value of all home sales in the province totalled $1,230 million in February 2016, falling 7.5 per cent from February 2015. The dollar volume of all home sales in Canada was up 38.1 per cent on a year-over-year basis.
Sales of all property types in Alberta numbered 3,392 units in February, down eight per cent from February 2015.
The value of those sales amounted to $1.3 billion, falling 8.9 per cent from a year earlier.
A total of 1,437 home sales were recorded through the MLS® System of the Calgary Real Estate Board in February, falling 6.9 per cent from a year earlier. The combined value of home sales activity in Calgary was $651.2 million, a five per cent decrease from year-ago levels.
There were 950 home sales recorded through the MLS® System of the REALTORS® Association of Edmonton, down 11.5 per cent from February 2015. The total value of home sales in Edmonton was $338.3 million in February 2016, down 11.9 per cent on a year-over-year basis.