November 2019 Update (continued)

Active residential listings numbered 659 units at the end of November, an increase of 14.4% from the end of November 2018 and the highest level for this time of the year since 2011. Months of inventory numbered 8.8 at the end of November 2019, up from the 6.4 months recorded at the end of November 2018 and above the 10-year average of 6.6 months 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 combined dollar value of all home sales in November 2019 was $21.5 million, decreasing by 18.7% from the same month in 2018.The dollar value of all home sales in Alberta, by comparison, was down 4.5% compared to November 2018. Sales of all property types numbered 80 units in November 2019, a decrease of 16.7% from November 2018. The total value of all properties sold was $23.8 million, down 18.3% from November 2018.

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.