Market Trend Summary
Year over year gains in December sales were not enough to offset earlier
pullbacks as annual sales totalled 1,101, an 18 per cent decline over the
previous year. This is the weakest level of sales seen since the 2016 recession.
Unlike other centres, Grande Prairie did not see the same pullback in new
listings and inventory levels rose over the previous year. This also caused the
months of supply to trend up to levels that are more consistent with the buyer's
With no significant supply adjustment to offset slower sales, prices generally
trended down. However, like many other centres, the declines were higher for
both row and apartment style products versus the adjustments recorded in the
detached sector of the market.