Central Alberta Market Stats 

The Central Alberta real estate market was very active again in July with the number of sales just slightly below June’s.  Year to date sales are up almost 5% compared to 2023 in spite of lower inventory levels which are down 11% compared to last year at this time.  The average price of all residential MLS sales in Central Alberta is up 9.33% from a year ago while the average sale price of single family homes is up 7.6% which supports our theory that properties in the lower price ranges have experienced the most inflation.

There are a number of reasons why the Alberta market is very strong while historically strong markets like Toronto and Vancouver have cooled.  People from those markets are moving to Alberta in large numbers for affordable home prices, lower taxes, more job opportunities and our quality of life.

Recent good new stories in Alberta include a 100,000 sq. ft. distribution facility for Keurig Dr Pepper outside Calgary; Alberta has received its fourth credit rating upgrade in the last year and sixth in the last 18 months; a Government of Alberta investment of $215 million for new schools and teachers; 496 new physicians registered in Alberta since the second quarter of 2023 (a net gain of 229 of registered family physicians); a 54% increase in building starts in the first half of 2024 making it the busiest first half in history (including a 193% increase in Red Deer).