Central Alberta Market Stats 

Central Alberta residential MLS sales in June slowed by 10% compared to May. That is a normal trend as consumers focus on the end of school, graduations and summer holidays rather than home purchases. The number of active listings at the beginning of July was up almost 11% compared to the beginning of June. The very close relationship between supply and demand may be starting to ease.

In spite of that easing, all the central Alberta markets we serve, except Clearwater County, are still strong seller markets. We expect supply to increase in the coming months as builders start to ramp up new construction. New data from Canada Housing and Mortgage Corporation shows that May was very strong with 4,113 housing starts in Alberta, a historic high. A recent report by ATB Financial shows that over 40 percent more residential building permits have been issued year-to-date in 2024 compared to 2023 and some of those starts are happening in central Alberta.

The average single family sale price in central Alberta is up almost 12% in 2024 compared to 2023 and up 43.6% compared to 2019. Those higher resale prices have created an environment in which new home construction can compete. Another factor contributing to more new construction: The province is leading the country in having the fastest permit approval times and the fewest roadblocks to building according to Jason Nixon, Alberta Minister of Seniors, Community and Social Services.