Real Estate Market Statistics

Home Sales and New Listings Climb in March

The number of homes sold through the MLS® System of the Grande Prairie & Area Association of REALTORS® posted a large year-over-year gain in March 2010. Meanwhile, a record number of properties were listed for sale.

According to statistics provided by the Association, home sales numbered 197 units in March 2010, a 56 per cent increase from the same month in 2009. By comparison, activity in all of Alberta was up 31 per cent from year-ago levels in March.

“March 2009 represented the bottom of the recessionary trough last year, and we see this reflected in the large year-over-year gain this month ” said Jamie Menzies, President of the Grande Prairie & Area Association of REALTORS® .

The total dollar value of all home sales amounted to $51.6 million in March 2010, jumping 70 per cent from a year earlier. The dollar volume of home sales in Alberta increased 44 per cent year-over-year.

The average price for homes sold in March 2010 was $261,776, rising nine per cent from a year earlier. The average price of all home sales in the province was up 10 per cent from year-ago levels to $362,231.

Total sales numbered 214 units in March, 63 per cent above levels from the same month in 2009. The total value of all properties sold in March 2010 rose 80 per cent from one year earlier to $58.1 million.

Both new and active listings posted records for the month of March in 2010. New listings on the Association’s MLS® System were up 16 per cent year-over-year to 476 units. There were 1,824 active residential listings on the Association’s MLS® System at the end of March 2010, up eight per cent from year-ago levels.

The number of months of inventory stood at 9.3 months at the end of March. This is down from the level recorded one year earlier (13.5 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.

March 2010  Residential dollar volume  Total dollar volume  Average price
 Grande Prairie  $ 51,569,814  $ 58,090,814  $ 261,776
 Alberta
$ 1,938,297,583

$ 2,128,969,567
 
$ 362,231

Note: The Association cautions that the average MLS® residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area.