These three Alberta cities are seeing the biggest drop in house sales

The real estate market in many spots in Alberta seems to be cooling down, and some cities are seeing a big drop in their overall house sales year-over-year.

According to market statistics from the Alberta Real Estate Association (AREA), just a handful of places are seeing a rise in sales, while others are seeing a drop of more than 10 per cent.

Year-over-year data revealed that the City of Lethbridge has seen a 13.4 per cent drop in sales, while the City of Edmonton saw a 11.2 per cent decline.

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Besting Lethbridge and Edmonton, Fort McMurray led the pack with a 13.6 per cent decline in sales year-over-year.

Calgary and Red Deer are also seeing a year-over-year decline in sales, registering a 5.7 and a 3.4 per cent dip, respectively. Just Grande Prairie is in positive territory, with a small 1.4 per cent year-over-year increase in sales.

Looking at statistics for all of Alberta, the AREA stated that April saw an 8.7 per cent year-over-year drop in sales with the biggest drops seen in row housing and apartments for the 12th consecutive month. New listings decreased by 0.6 per cent year-over-year. Inventory increased 3.3 per cent year over year. The sales-to-new listings rose to 58 per cent.

There were 2.72 months of supply in April, up 13.1 per cent year-over-year. Calgary and Edmonton are continuing to see a loosening of supplies, while Grande Prairie has the tightest conditions in the province, having 1.28 months of supply. There were notable increases in months of supply in Red Deer (36 per cent), Medicine Hat (35 per cent) and Lethbridge (35 per cent).

You can view the full statistics online.