A recent report issued by the Canadian Real Estate Association, MLS Numbers show that the number of houses sold in Alberta has dropped by 25% in the month of January, compared with the same month last year. New property listings on the MLS have risen by 43%.
The number of residential new listings surged, and hit an all time high in January. This was due in part, according to experts, to the national resale housing market becoming more balanced than it has ever been in the past seven years.
The average house price in Alberta in January (according to sales numbers) sold at C $357,574. In comparison, the country's average house sale price was at C $309,448.
According to Ann Bosley of the Canadian Real Estate Association, as reported by Canada.com, "The MLS residential sales report for January also again shows the difference between the Canadian and U. S. markets. In January, there was an 8.9% drop in the year over year housing price index in the United States. That was the largest decline in 20 years, while the average residential MLS price in Canada rose just over 9% on an annual basis.