Central Alberta Market Stats 

Residential MLS sales in Central Alberta in October were down 12.4% compared to September and down 6.6% compared to October 2023.  The number of active listings on November 1st was down 9% compared to October 1st.  The gap between supply and demand continues to widen which means prices will continue to inflate.  The reasons appear to be simple.  First, recent interest rate cuts are allowing more buyers into the market driving increased demand.  Second, the number of active listings typically drops going into winter when fewer people want to move.

Demand for housing is fueled by population growth.  While the federal government has committed to slowing immigration which will slow growth in most provinces, Alberta’s population is forecast to continue to grow due to natural growth (births) and ongoing inter-provincial in migration driven by new industry including hydrogen technology development, carbon capture and sequestration and the newest phenomenon - data farms, supplementing the perennial favorite, oil and gas production.

While new construction is up dramatically in Alberta the past two years, it still won't be able to keep pace with all that population growth.