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December 2019 Residential Market update

Dated: February 13 2020

Views: 451

Grande Prairie home sales up year-over-year in December

The number of homes sold through the MLS® System of the Grande Prairie & Area

Association of REALTORS® totaled 106 units in December 2019. This was up 9.3% (nine

sales) from December 2018.

On an annual basis, home sales totalled 2,475 units over the course of 2019, down 9.6%

from the same period in 2018.

Residential sales activity in all of Alberta, by comparison, was up 7.6% in December 2019

compared to December 2018.

The average price of Grande Prairie homes sold in December 2019 was $312,077, up 8.4%

from December 2018.

The more comprehensive annual average price was $307,080; this was little changed,

edging just 0.7% higher compared to 2018.

The provincial average price for homes sold in December 2019 was $371,562, down a slight

0.4% from December 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.

There were 181 new residential listings in December 2019, an increase of 17.5% on a year-

over-year basis. This was the largest number of new listings added in the month of

December on record.

Active residential listings numbered 1,395 units at the end of December, up 15.3% from the

end of December 2018. This was a record for active listings at the end of the year.

Months of inventory numbered 13.2 at the end of December 2019, up a bit from the 12.5

months recorded at the end of December 2018 and above the 10-year average of 10

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 dollar value of all home sales in December 2019 was $33 million, rising 18.4% from the

same month in 2018.

The dollar value of all home sales in Alberta, by comparison, was up 7.2% compared to

December 2018.

Sales of all property types numbered 113 units in December 2019, up 9.7% (10 sales) from

December 2018. The total value of all properties sold was $36.8 million, also up 9.7% from

December 2018.

December 2019 Residential dollar volume

Total dollar

volume Average price

Grande Prairie $33,080,155 $36,800,155 $312,077

Alberta $977,579,141 $1,094,735,919 $371,562

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.REALTOR.ca for

residential, commercial, and investment properties.

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Kate Pieper

My mission is simple; I want to make you say 'WOW, that was easy!' I want to make life simple for those in the midst of a real estate transaction. My mandate is to provide the Grande Prairie & area m....

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