April 2019 April 2019 Signs of Improvement in April
April 2019 April 2019 Signs of improvement in April
Alberta sales activity in April improved by nearly three per cent compared to last April but remained well below typical levels of activity. Nonetheless, this is the first time since July of 2018 that province wide monthly sales improved compared to the previous year.
The monthly sales gain was not high enough to offset the slowing trend in the first quarter and year-to-date sales eased by nearly six per cent and are 17 per cent below long-term averages. The year-to-date declines were driven by reductions in Calgary, Edmonton, Grande Prairie, Central Alberta and Medicine Hat.
In April, new listings continue to ease compared to the previous year. The combined impact of improved sales and easing new listings was not enough to prevent year-over-year inventory gains this month. However, the growth rate of inventories has been slowing, which if this trend continues could help the market move towards more balanced conditions and eventually support more price stability.
With over six months of supply in the entire province, prices continue to trend down. The province wide average price was $381,452, nearly two per cent lower than last year’s levels.
April demonstrated some early signs of improvements in housing market conditions. However, it will take some time for the overall market to return to more normal conditions as our larger cities continue to struggle with oversupply and easing prices.
Alberta Months of Supply and Price Changes
14 50%
12 40%
10 30%
8 20%
6 10%
4 0%
2 -10%
0 -20% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Months of Inventory Trended Months of Inventory Y/Y Price Change Source: CREA
AREA Monthly Statistics 2 APR- 2019
Alberta Summary Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 5,039 5,169 2.58% 15,988 15,074 -5.72% Total Sales Volume $1,953,257,177 $1,971,722,904 0.95% $6,215,766,416 $5,670,530,146 -8.77% New Listings 12,181 11,729 -3.71% 40,500 38,412 -5.16% Inventory 33,101 33,878 2.35% 28,456 29,812 4.77% Months of Supply 6.57 6.55 -0.23% 7.12 7.91 11.12% Sales-to-new Listings Ratio 41.37% 44.07% 6.53% 39.48% 39.24% -0.59% Average Price $387,628 $381,452 -1.59% $388,777 $376,180 -3.24% Alberta average price and price change 50% 450,000
400,000 40% 350,000 30% 300,000
20% 250,000
10% 200,000
150,000 0% 100,000 -10% 50,000
-20% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Alberta sales and inventory 45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Inventory Sales Trended sales Trended Inventory Source: CREA
AREA Monthly Statistics 3 APR- 2019 Alberta total residential sales
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0 Apr. '09 Apr. '10 Apr. '11 Apr. '12 Apr. '13 Apr. '14 Apr. '15 Apr. '16 Apr. '17 Apr. '18 Apr. '19
Calgary Region Edmonton Region Central Alberta Wood Buffalo
Grand prairie Lethbridge Medicine Hat Lloydminster
South Central Alberta Alberta West 10-year average Source: CREA
Alberta total residential inventory 35,000
30,000
25,000
20,000
15,000
10,000
5,000
0 Apr. '09 Apr. '10 Apr. '11 Apr. '12 Apr. '13 Apr. '14 Apr. '15 Apr. '16 Apr. '17 Apr. '18 Apr. '19
Calgary Region Edmonton Region Central Alberta Wood Buffalo Grand prairie Lethbridge Medicine Hat Lloydminster South Central Alberta Alberta West 10-year average Source: CREA
AREA Monthly Statistics 4 New Months of Average Sales to new Share of sales APR- 2019 Sales Y/Y % Listings Y/Y % Inventory Supply Y/Y% price Y/Y% listings ratio activity Alberta West 124 10.71% 335 15.12% 1,388 11.19 4.91% 364,138 -0.26% 37.01% 2.40% Calgary Region 1,958 3.32% 4,041 -12.29% 9,819 5.01 -5.43% 443,607 -4.02% 48.45% 37.88% Central Alberta 360 -6.25% 1,071 2.68% 3,945 10.96 6.13% 294,071 0.60% 33.61% 6.96% Edmonton Region 1,869 3.55% 4,174 -1.04% 11,044 5.91 -3.98% 369,402 -1.73% 44.78% 36.16% Fort McMurray 129 11.21% 296 18.88% 1,036 8.03 -3.76% 389,384 -0.75% 43.58% 2.50% Grande Prairie 225 -7.02% 552 24.04% 1,842 8.19 31.20% 325,175 8.24% 40.76% 4.35% Lethbridge 238 1.71% 450 8.70% 1,787 7.51 31.02% 280,929 6.67% 52.89% 4.60% Lloydminster 81 3.85% 269 30.58% 1,176 14.52 4.86% 262,498 -3.99% 30.11% 1.57% Medicine Hat 100 -10.71% 241 29.57% 742 7.42 57.10% 287,815 6.82% 41.49% 1.93% South Cetral Alberta 28 16.67% 118 13.46% 490 17.50 -15.49% 162,693 -10.26% 23.73% 0.54% Alberta 5,169 2.58% 11,729 -3.71% 33,878 6.55 -0.23% 381,452 -1.59% 44.07%
Average Price Growth Comparison April
10%
5%
0%
-5%
-10%
-15%
-20%
Apr‐18 Apr‐19
Average Price Comparison April Months of Supply Comparison April 500,000 25 450,000 Apr‐18 Apr‐19 Apr‐18 Apr‐19 400,000 20 350,000 300,000 15 250,000 200,000 10 150,000 100,000 5 50,000 0 0
AREA Monthly Statistics 5 APR- 2019
Alberta West
Year-to-date sales activity generally improved in the region. However, like many other centres, new listings continue to rise pushing up inventory levels and months of supply. While months of supply have edged up, they generally remain below historical highs.
Prices in the region tend to fluctuate significantly from month-to-month. However, prices have generally remained relatively stable so far this year.
Alberta West Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 112 124 10.71% 351 377 7.41% Total Sales Volume $40,890,433 $45,153,065 10.42% $118,692,761 $132,678,526 11.78% New Listings 291 335 15.12% 839 905 7.87% Inventory 1,195 1,388 16.15% 1,083 1,222 12.88% Months of Supply 10.67 11.19 4.91% 12.34 12.97 5.10% Sales-to-new Listings Ratio 38.49% 37.01% -3.83% 41.84% 41.66% -0.43% Average Price $365,093 $364,138 -0.26% $338,156 $351,932 4.07%
Average price and price change 100% 400,000
80% 350,000
300,000 60% 250,000 40% 200,000 20% 150,000 0% 100,000
-20% 50,000
-40% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 25 100% 90% 20 80% 70% 15 60% 50% 10 40% 30% 5 20% 10% 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 6 APR- 2019 Alberta West Sales
April YTD‐April 180 600 160 500 140
120 400 100 300 80
60 200 40 100 20 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Alberta West 10-year average Alberta West 10-year average Source: CREA Source: CREA
Alberta West New Listings April YTD‐April 400 1,050 350 1,000 300 950 250
200 900 150 850 100
50 800
0 750 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Alberta West 10-year average Source: CREA Alberta West 10-year average Source: CREA
Alberta West Inventory
April YTD‐April 1,600 1,400 1,400 1,200 1,200 1,000 1,000 800 800
600 600
400 400
200 200 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Alberta West 10-year average Source: CREA Alberta West 10-year average Source: CREA
AREA Monthly Statistics 7 APR- 2019 Calgary Region
Improving sales combined with easing new listings caused April inventories to ease compared to last year’s levels. While the decline was not large enough to push the market into balanced conditions and inventories remain elevated based on historical averages, it is the first time that the growth in monthly inventories has declined since 2017.
The months of inventory eased to five months in the region. This is an improvement over the previous year but remains well above typical levels for April. The persistent oversupply continues to cause downward pressure on prices.
Calgary Region Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 1,895 1,958 3.32% 6,286 5,927 -5.71% Total Sales Volume $875,820,687 $868,582,446 -0.83% $2,916,094,318 $2,628,698,534 -9.86% New Listings 4,607 4,041 -12.29% 15,242 14,029 -7.96% Inventory 10,049 9,819 -2.29% 8,432 8,729 3.53% Months of Supply 5.30 5.01 -5.43% 5.37 5.89 9.80% Sales-to-new Listings Ratio 41.13% 48.45% 17.80% 41.24% 42.25% 2.44% Average Price $462,175 $443,607 -4.02% $463,903 $443,512 -4.40%
Average price and price change 100% 600,000
80% 500,000
60% 400,000
40% 300,000
20% 200,000
0% 100,000
-20% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 12 100% 90% 10 80% 70% 8 60% 6 50% 40% 4 30% 20% 2 10% 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 8 APR- 2019 Calgary Region Sales
April YTD‐April 4,000 12,000 3,500 10,000 3,000 8,000 2,500
2,000 6,000
1,500 4,000 1,000 2,000 500
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Calgary Region 10-year average Calgary Region 10-year average Source: CREA Source: CREA
Calgary Region New Listings April YTD‐April 6,000 20,000 18,000 5,000 16,000
4,000 14,000 12,000 3,000 10,000 8,000 2,000 6,000
1,000 4,000 2,000 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Calgary Region 10-year average Source: CREA Calgary Region 10-year average Source: CREA
Calgary Region Inventory
April YTD‐April 12,000 10,000 9,000 10,000 8,000 8,000 7,000 6,000 6,000 5,000 4,000 4,000 3,000 2,000 2,000 1,000 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Calgary Region 10-year average Source: CREA Calgary Region 10-year average Source: CREA
AREA Monthly Statistics 9 APR- 2019
Central Alberta
Sales activity continued to ease in the region in April resulting in year-to-date sales of 1,004 units, 12 per cent lower than last year’s levels. However, new listings also have eased compared to last year’s levels keeping inventories at levels comparable to the previous year.
While there have been some indications that the amount of oversupply is easing from recent highs, overall conditions continue to favour buyers thus causing prices to generally trend down compared to last year.
Central Alberta Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 384 360 -6.25% 1,142 1,004 -12.08% Total Sales Volume $112,252,222 $105,865,457 -5.69% $330,387,146 $288,995,978 -12.53% New Listings 1,043 1,071 2.68% 3,453 3,265 -5.44% Inventory 3,965 3,945 -0.50% 3,445 3,414 -0.90% Months of Supply 10.33 10.96 6.13% 12.07 13.60 12.72% Sales-to-new Listings Ratio 36.82% 33.61% -8.70% 33.07% 30.75% -7.02% Average Price $292,323 $294,071 0.60% $289,306 $287,845 -0.51%
Average price and price change 100% 350,000
80% 300,000
250,000 60% 200,000 40% 150,000 20% 100,000
0% 50,000
-20% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 25 100% 90% 20 80% 70% 15 60% 50% 10 40% 30% 5 20% 10% 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 10 APR- 2019 Central Alberta Sales
April YTD‐April 600 1,800 1,600 500 1,400 400 1,200 1,000 300 800 200 600 400 100 200 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Central Alberta 10-year average Central Alberta 10-year average Source: CREA Source: CREA
Central Alberta New Listings April YTD‐April 1,150 4,500 4,000 1,100 3,500 3,000 1,050 2,500 2,000 1,000 1,500
950 1,000 500 900 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Central Alberta 10-year average Source: CREA Central Alberta 10-year average Source: CREA
Central Alberta Inventory
April YTD‐April 4,500 4,000 4,000 3,500 3,500 3,000 3,000 2,500 2,500 2,000 2,000 1,500 1,500
1,000 1,000
500 500 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Central Alberta 10-year average Source: CREA Central Alberta 10-year average Source: CREA
AREA Monthly Statistics 11 APR- 2019 Edmonton Region
Following sharp declines in sales over the previous two quarters, sales activity in April improved by over three per cent compared to the previous year. Improved sales and easing new listings prevented any further growth in inventories in the region and helped push the months of inventory to below six months.
Despite the monthly shift, overall the Edmonton market remains oversupplied and prices continue to trend down compared to last year.
Edmonton Region Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 1,805 1,869 3.55% 5,554 5,168 -6.95% Total Sales Volume $678,478,396 $690,411,917 1.76% $2,068,088,500 $1,862,114,905 -9.96% New Listings 4,218 4,174 -1.04% 14,315 13,543 -5.39% Inventory 11,108 11,044 -0.58% 9,412 9,685 2.90% Months of Supply 6.15 5.91 -3.98% 6.78 7.50 10.59% Sales-to-new Listings Ratio 42.79% 44.78% 4.64% 38.80% 38.16% -1.65% Average Price $375,888 $369,402 -1.73% $372,360 $360,316 -3.23%
Average price and price change 20% 450,000
15% 400,000
10% 350,000
5% 300,000
0% 250,000
-5% 200,000
-10% 150,000
-15% 100,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 12 80%
70% 10 60% 8 50%
6 40%
30% 4 20% 2 10%
0 0% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 12 APR- 2019 Edmonton Region Sales
April YTD‐April 3,000 8,000
2,500 7,000 6,000 2,000 5,000
1,500 4,000
3,000 1,000 2,000 500 1,000
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Edmonton Region 10-year average Edmonton Region 10-year average Source: CREA Source: CREA
Edmonton Region New Listings April YTD‐April 4,500 16,000
4,000 14,000 3,500 12,000 3,000 10,000 2,500 8,000 2,000 1,500 6,000 1,000 4,000 500 2,000
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Edmonton Region 10-year average Source: CREA Edmonton Region 10-year average Source: CREA
Edmonton Region Inventory
April YTD‐April 12,000 12,000
10,000 10,000
8,000 8,000
6,000 6,000
4,000 4,000
2,000 2,000
0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Edmonton Region 10-year average Source: CREA Edmonton Region 10-year average Source: CREA
AREA Monthly Statistics 13 APR- 2019 Fort McMurray For the third month in a row, sales activity has improved compared to the previous year. While year-to- date sales remain well below typical levels seen in the area, this is the third consecutive year that sales have improved from post-recession lows in 2016. Meanwhile, new listings also trended up causing a slight gain in inventories. However, months of supply have remained comparable to the previous year. While the amount of oversupply has eased, levels remain elevated compared to pre-recessionary figures and continue to weigh on prices. Despite some monthly fluctuations prices continue to ease over last year’s levels.
Fort McMurray Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 116 129 11.21% 364 384 5.49% Total Sales Volume $45,511,300 $50,230,482 10.37% $150,178,579 $145,079,392 -3.40% New Listings 249 296 18.88% 824 879 6.67% Inventory 968 1,036 7.02% 897 943 5.10% Months of Supply 8.34 8.03 -3.76% 9.85 9.82 -0.37% Sales-to-new Listings Ratio 0.47 0.44 -6.45% 0.44 0.44 -1.11% Average Price $392,339 $389,384 -0.75% $412,579 $377,811 -8.43%
Average price and price change 100% 700,000
80% 600,000
60% 500,000 40% 400,000 20% 300,000 0% 200,000 -20%
-40% 100,000
-60% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 25 120%
100% 20
80% 15 60% 10 40%
5 20%
0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 14 APR- 2019 Fort McMurray Sales
April YTD‐April 250 800
700 200 600
150 500 400 100 300
200 50 100
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Fort McMurray 10-year average Fort McMurray 10-year average Source: CREA Source: CREA
Fort McMurray New Listings April YTD‐April 400 1,400
350 1,200 300 1,000 250 800 200 600 150
100 400
50 200
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Fort McMurray 10-year average Source: CREA Fort McMurray 10-year average Source: CREA
Fort McMurray Inventory
April YTD‐April 1,400 1,400
1,200 1,200
1,000 1,000 800 800 600 600 400 400 200 200 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Fort McMurray 10-year average Source: CREA Fort McMurray 10-year average Source: CREA
AREA Monthly Statistics 15 APR- 2019
Grande Prairie
Further easing in April caused year-to-date sales to total 690 units, nearly 16 per cent lower than last year and 12 per cent lower than longer-term averages. The easing sales were also companied by strong gains in new listings causing inventories to reach new highs with 1,842 units.
Gains in supply relative to sales have caused the months of supply to trend up. However, prices have managed to remain slightly higher than levels recorded last year.
Grande Prairie Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 242 225 -7.02% 819 690 -15.75% Total Sales Volume $72,701,813 $73,164,450 0.64% $240,921,198 $211,343,515 -12.28% New Listings 445 552 24.04% 1,478 1,722 16.51% Inventory 1,510 1,842 21.99% 1,410 1,578 11.94% Months of Supply 6.24 8.19 31.20% 6.88 9.15 32.86% Sales-to-new Listings Ratio 54.38% 40.76% -25.05% 55.41% 40.07% -27.69% Average Price $300,421 $325,175 8.24% $294,165 $306,295 4.12%
Average price and price change 50% 350,000
40% 300,000
30% 250,000
20% 200,000
10% 150,000
0% 100,000
-10% 50,000
-20% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 16 120%
14 100% 12 80% 10
8 60%
6 40% 4 20% 2
0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 16 APR- 2019 Grande Prairie Sales
April YTD‐April 400 1,200 350 1,000 300 800 250
200 600
150 400 100 200 50
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Grande Prairie 10-year average Grande Prairie 10-year average Source: CREA Source: CREA
Grande Prairie New Listings April YTD‐April 600 2,000 1,800 500 1,600
400 1,400 1,200 300 1,000 800 200 600 100 400 200 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Grande Prairie 10-year average Source: CREA Grande Prairie 10-year average Source: CREA
Grande Prairie Inventory
April YTD‐April 2,000 1,800 1,800 1,600 1,600 1,400 1,400 1,200 1,200 1,000 1,000 800 800 600 600 400 400 200 200 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Grande Prairie 10-year average Source: CREA Grande Prairie 10-year average Source: CREA
AREA Monthly Statistics 17 APR- 2019
Lethbridge
Sales activity continues to improve in April, pushing year-to-date sales to 706 units, slightly higher than last year’s figures and in-line with long-term averages for the centre. However, the number of new listings rose again in April and inventories reached 1,787 units reflecting some of the highest inventory levels recorded since 2011.
As the pace of inventory growth has exceeded the pace of sales growth, the months of supply continues to trend up compared to levels that are typical for this time of year. The recent gain has caused some fluctuations in prices. However, prices remain above levels recorded last year.
Lethbridge Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 234 238 1.71% 687 706 2.77% Total Sales Volume $61,626,944 $66,861,145 8.49% $181,340,127 $195,601,520 7.86% New Listings 414 450 8.70% 1,324 1,583 19.56% Inventory 1,341 1,787 33.26% 1,201 1,596 32.90% Months of Supply 5.73 7.51 31.02% 6.99 9.04 29.33% Sales-to-new Listings Ratio 56.52% 52.89% -6.43% 51.89% 44.60% -14.05% Average Price $263,363 $280,929 6.67% $263,959 $277,056 4.96%
Average price and price change 50% 350,000
40% 300,000
30% 250,000
20% 200,000
10% 150,000
0% 100,000
-10% 50,000
-20% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 16 120%
14 100% 12 80% 10
8 60%
6 40% 4 20% 2
0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 18 APR- 2019 Lethbridge Sales
April YTD‐April 300 900 800 250 700 200 600 500 150 400 100 300 200 50 100
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Lethbridge 10-year average Lethbridge 10-year average Source: CREA Source: CREA
Lethbridge New Listings April YTD‐April 500 1,800 450 1,600 400 1,400 350 1,200 300 1,000 250 800 200 150 600 100 400 50 200 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Lethbridge 10-year average Source: CREA Lethbridge 10-year average Source: CREA
Lethbridge Inventory
April YTD‐April 2,000 1,800 1,800 1,600 1,600 1,400 1,400 1,200 1,200 1,000 1,000 800 800 600 600 400 400 200 200 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Lethbridge 10-year average Source: CREA Lethbridge 10-year average Source: CREA
AREA Monthly Statistics 19 APR- 2019 Medicine Hat
Sales continued to ease in April, casing year-to-date activity to fall to 328 units, slightly lower than last year’s levels and well below typical levels of activity. At the same time new listings have been on the rise causing further gains in inventory levels. In April, there were 742 home on the market, some of the highest levels recorded since 2011.
Elevated inventories along with weaker sales have caused the months of inventory to rise above seven months. The gains have weighed on prices, which have generally trended down compared to levels recorded last year.
Medicine Hat Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 112 100 -10.71% 346 328 -5.20% Total Sales Volume $30,175,800 $28,781,500 -4.62% $98,021,274 $87,579,850 -10.65% New Listings 186 241 29.57% 623 725 16.37% Inventory 529 742 40.26% 476 615 29.19% Months of Supply 4.72 7.42 57.10% 5.51 7.50 36.28% Sales-to-new Listings Ratio 60.22% 41.49% -31.09% 55.54% 45.24% -18.54% Average Price $269,427 $287,815 6.82% $283,298 $267,012 -5.75%
Average price and price change 40% 350,000
30% 300,000
20% 250,000
10% 200,000
0% 150,000
-10% 100,000
-20% 50,000
-30% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 14 100% 90% 12 80% 10 70%
8 60% 50% 6 40%
4 30% 20% 2 10% 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 20 APR- 2019 Medicine Hat Sales
April YTD‐April 180 500 160 450 140 400 120 350 300 100 250 80 200 60 150 40 100 20 50 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Medicine Hat 10-year average Medicine Hat 10-year average Source: CREA Source: CREA
Medicine Hat New Listings April YTD‐April 300 1,200
250 1,000
200 800
150 600
100 400
50 200
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Medicine Hat 10-year average Source: CREA Medicine Hat 10-year average Source: CREA
Medicine Hat Inventory
April YTD‐April 900 800 800 700 700 600 600 500 500 400 400 300 300
200 200
100 100 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Medicine Hat 10-year average Source: CREA Medicine Hat 10-year average Source: CREA
AREA Monthly Statistics 21 APR- 2019
South Central Alberta
Sales in the region continue to improve this year. At the same time, new listings are starting to ease causing inventories to trend down from previous year’s levels. Improving sales and easing inventories have helped reduce the amount of oversupply in the market. However, it will take some time for this to reflect on prices which continue to generally trend down relative to last year.
South Central Alberta Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 24 28 16.67% 97 115 18.56% Total Sales Volume $4,351,000 $4,555,400 4.70% $20,013,600 $22,277,038 11.31% New Listings 104 118 13.46% 327 303 -7.34% Inventory 497 490 -1.41% 447 445 -0.61% Months of Supply 20.71 17.50 -15.49% 18.44 15.46 -16.17% Sales-to-new Listings Ratio 23.08% 23.73% 2.82% 29.66% 37.95% 27.95% Average Price $181,292 $162,693 -10.26% $206,326 $193,713 -6.11%
Average price and price change 80% 300,000
60% 250,000
40% 200,000 20% 150,000 0% 100,000 -20%
-40% 50,000
-60% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 30 90% 80% 25 70% 20 60% 50% 15 40% 10 30% 20% 5 10% 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 22 APR- 2019 South Central Alberta Sales
April YTD‐April 60 250
50 200
40 150 30 100 20
50 10
0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 South Central Alberta 10-year average South Central Alberta 10-year average Source: CREA Source: CREA
South Central Alberta New Listings April YTD‐April 140 450
120 400 350 100 300 80 250 60 200 150 40 100 20 50 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 South Central Alberta 10-year average Source: CREA South Central Alberta 10-year average Source: CREA
South Central Alberta Inventory
April YTD‐April 600 500 450 500 400 400 350 300 300 250 200 200 150 100 100 50 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 South Central Alberta 10-year average Source: CREA South Central Alberta 10-year average Source: CREA
AREA Monthly Statistics 23 APR- 2019
Lloydminster
April did not bring about any significant change in this market. Sales continue to remain comparable to last year’s levels and rising new listings are keeping inventories elevated. Overall the market continues to favour buyers, causing further downward pressure on prices.
Lloydminster Apr-18 Apr-19 % Change YTD 2018 YTD 2019 % Change Total Sales 78 81 3.85% 213 219 2.82% Total Sales Volume $21,325,400 $21,262,300 -0.30% $58,387,231 $53,314,496 -8.69% New Listings 206 269 30.58% 773 814 5.30% Inventory 1,080 1,176 8.89% 984 1,040 5.64% Months of Supply 13.85 14.52 4.86% 18.48 18.99 2.74% Sales-to-new Listings Ratio 37.86% 30.11% -20.47% 27.55% 26.90% -2.36% Average Price $273,403 $262,498 -3.99% $274,118 $243,445 -11.19%
Average price and price change 50% 400,000
40% 350,000 30% 300,000 20% 250,000 10% 200,000 0% 150,000 -10% 100,000 -20%
-30% 50,000
-40% 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Y/Y Price Change Trended Price Change Average Price Trended Average Price Source: CREA
Months of supply and sales to new listings ratio 30 100% 90% 25 80% 70% 20 60% 15 50% 40% 10 30% 20% 5 10% 0 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Months of Supply Trended Months of Supply Trended S/NL Source: CREA
AREA Monthly Statistics 24 APR- 2019 Lloydminster Sales
April YTD‐April 160 450 140 400
120 350 300 100 250 80 200 60 150 40 100 20 50 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Lloydminster 10-year average Lloydminster 10-year average Source: CREA Source: CREA
Lloydminster New Listings April YTD‐April 300 900 800 250 700 200 600 500 150 400 100 300 200 50 100 0 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Lloydminster 10-year average Source: CREA Lloydminster 10-year average Source: CREA
Lloydminster Inventory
April YTD‐April 1,400 1,200
1,200 1,000 1,000 800 800 600 600
400 400
200 200
0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 0 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 Lloydminster 10-year average Source: CREA Lloydminster 10-year average Source: CREA
AREA Monthly Statistics 25 REPORTING REGIONS
* Data is collected and reported by each board, then aggregated by the Canadian Real Estate Association. Detailed information regarding how the data is aggregated should be directed to either the Specific Board or CREA.
The average price information listed can be useful in establishing trends over time, but do not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical area
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ABOUT AREA
The AREA represents more than 10,000 REALTORS® and 10 real estate Boards/Associations province-wide and provides worldclass leadership that positively shapes the Alberta real estate profession, enhances member professionalism, and reinforces the critical value REALTORS® deliver to both buyers and sellers.
Board & Association Information Board & Association Information
The Grande Prairie & Area Association of REALTORS® represents more than 240 REALTORS® located in Grande Prairie and across the Peace Region. All MLS® listings processed by the Board can be found on the national public web site www.grandeprairie-mls.ca
The Fort McMurray REALTORS® are a member service organization made up of approximately 200 real estate members consisting of Brokers, Associate Brokers and Associates. The Board also has 12 Affiliate members providing support and service to the real estate industry. Our trading area includes the Regional Municipality of Wood Buffalo and the Lac LaBiche County. For more information please go to www.fmreb.com
Alberta West REALTORS® Association represents 174 real estate industry professionals in various communities throughout West Central Alberta. For more information please go to www.abwra.com
The REALTORS® Association of Edmonton is a professional services association comprised of over 3,200 Brokers and Associates serving the greater Edmonton area. For more information please go to www.realtorsofedmonton.com
The REALTORS® of Lloydminster and District is comprised of approximately 100 REALTORS® located in offices in Lloydminster as well as the surrounding communities of Wainwright and VermilionFor more information please go to www.rald.realtyserver.com
The Central Alberta REALTORS® Association is a professional trade organization, whose members are licensed Real Estate professionals. Our membership currently includes more than 650 real estate brokers and agents working across Central Alberta. For more information please go to www.carassociation.ca
The Calgary Real Estate Board (CREB®) is a professional association of over 5,200 licensed REALTORS® across the Calgary region. As one of the largest real estate boards in Canada, CREB® provides members with essential resources to enhance professionalism, advance the industry’s development and enrich the communities they serve. For more information please go to www.creb.com
The Lethbridge and District Association of REALTORS® is a member service organization made up of 294 real estate members consisting of Brokers, Associate Brokers and Associates. The Board also has 39 Contract Subscribers who are Appraisers, Home Inspectors, Builders, and Mortgage Brokers. For more information please go to www.ldar.ca
The Medicine Hat Real Estate Board was chartered in 1955 and serves the 140 local REALTORS®, in eleven brokerages, which provide real estate brokerage services to buyers and sellers of all types of property - residential, commercial, industrial and information please go to www.mhreb.ca
AREA Monthly Statistics 26