Grande Prairie home sales are off to the slowest start to a year since 2009. According to data from the Canadian Real Estate Association and the Grande Prairie and Area Association of Realtors, the first three months of 2016 saw sales drop by more than 25 per cent.
There were 142 homes sold in March, down nearly 30 per cent from last year. Home sales have reportedly gone down by around that amount every month since the beginning of 2015.
GP isn’t the only place feeling a slump. Residential sales in all of Alberta are down 12.7 per cent from what they were last March.
The provincial average price for homes sold last month is also down 1.7 per cent to $392,000. Here in the Swan City, the average price has also fallen 7.2 per cent from the first three months of last year to $282,000.
Active residential listings in the CREA’s system are up 16.9 per cent from this time last year.