The number of homes sold through the MLS® System of the Lethbridge and District Association of REALTORS® was down from year-ago levels in August 2012.

Home sales numbered 212 units in August 2012, a seven per cent decline compared to the same month last year. There were 165 single family home sales in Lethbridge, just two sales fewer than in August 2011.

By comparison, home sales in all of Alberta rose five per cent compared to August 2011.

A total of 1,561 homes have traded hands in Lethbridge and surrounding areas so far this year. This is running nine per cent ahead of levels in the first eight months of 2011, and stands above the same period in 2010 as well.

The average price of homes sold in August 2012 was $241,317, down two per cent from August 2011. The average selling price for all of Alberta was $356,488 in August 2012, up four per cent from the previous August.

The dollar value of all residential sales activity in August 2012 totaled $51.2 million, down nine per cent from a year earlier. The dollar volume of home sales in all of Alberta, by comparison, increased nine per cent on a year-over-year basis.

New listings for all types of properties in Lethbridge totaled 473 units in August, down 10 per cent from the previous August. New residential listings on the Association’s MLS® System numbered 444 units in August 2012, down six per cent from a year earlier.

There were 2,279 active listings for all types of properties on the Association’s MLS® System at the end of August, down five per cent from August 2011.

The number of active residential listings climbed 11 per cent on a year-over-year basis to 2,057 units at the end of the month.

The number of months of inventory stood at 9.7 at the end of August, up from 8.2 months recorded a year earlier. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all types of properties in Lethbridge numbered 217 units in August, down eight per cent from a year earlier. The total value of these sales was $51.9 million, a decline of 12 per cent from year-ago levels.

The statistics quoted in this report are provided by the Lethbridge and District Association of REALTORS®, serving more than 324 REALTORS® in member offices in the City of Lethbridge, the County of Lethbridge, Cardston County, County of Warner, the municipal districts of Taber, Warner, Willow Creek, Pincher Creek, and the municipality of Crowsnest Pass.