The Northeast Alberta real estate market, including Cold Lake, Bonnyville, and St Paul, saw a significant year-over-year decrease in March according to the latest report from the Alberta Real Estate Association.
In March there were 82 sales made in the region, down 41.4 per cent compared to sales in March 2022. Last month 257 new listings hit the market, up 31.8 per cent compared to the same month last year. The average sale price in March was $358,526 seeing a 12 per cent year over-year decrease.
Overall sales in the first three months of 2023 for the region were down 40 per cent, compared to the same period in 2023. 552 new properties hit the market so far this year, up 16 per cent from 2022. The average sales price in Northeast Alberta is down nine per cent at $337,918.
Provincially sales in March were down 41 per cent compared to 2022; with an average sales price in March being $494,166 down six per cent compared to last year. The first quarter of 2023 saw a 41 per cent year-over-year decrease in sales, with the average price of $455,701 down two per cent from 2022.
(With Files from Vista staff Kassandra Patterson)