Whats happening to the single family homes in Fort McMurray?
We've seen a 28% increase in sales the first three months of 2017 in comparison to last year and it looks to continue. We already have 31 firm sales in April which is what we saw in the entire month last year. On top of that, we have 31 homes currently under offer which means we'll likely break past 60 sales again. The number of homes on the market has increased from last year by 9% but with the higher number of sales, our months of inventory has fallen from 16 to 8 which is a marked improvement.
Average listing prices fell to their lowest levels in November and have slowly been creeping up since that point.
Conclusion: Head and shoulders above 2016. Improved activity but not to…