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Real Estate Blog

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

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Fort McMurray Real Estate Sales - Mid Month Update

Single Family Home Sales

We've got ten days left in March with 42 firm sales already and 19 pending (under offer).  It looks like we are going to get close to March 2015 sales numbers which is great to see.  More interesting than that, we are already at 119 sales for the year.  In 2015 we saw 129 sales over the same period so it looks like the balancing of our market is continuing.  We haven't felt the Spring rush yet but it could be just around the corner!

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Fort McMurray Single Family Real Estate Market

With February at its end, our market is continuing to show a similar trend in comparison to the last two years.  However, sales this month have been slightly better than in the last two years.  More encouraging than that statistic is we currently have 33 homes conditionally under offer. The notion of our market being "flooded" with listings is blown out of proportion as well. There are fewer homes for sale this February than in same month the past two years.  Yet, with sales still being fairly slow, we shouldn't expect to see an increase in single family prices at the moment. 

Single Family Sales

Single Family Active Listings

The affect of the re-build is still the biggest

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Include Your Decision Makers

This is especially important for first time home buyers.  Often, parents or relatives will want to be there for you to help you make your decision and give you advice.  This is fantastic! However, it is important to keep in mind that by the time you have chosen a house, you will know more about the market than most of your support network who may not have bought a house for years.  If your advisors only see the house you have already chosen, they will likely question the decision based on nothing more than wanting the very best for you.  However, their point of view at that time might not be the most realistic.  If you know there will be people helping you make a decision, include them in the whole process so they get

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Well it might not be overly busy at the moment but if you look at the past two years, what you do see is consistency in the Fort McMurray Real Estate market.  Obviously the fire altered timing in 2016 but the general trend is the same. January of 2017 posted six fewer sales than last year but the months leading up to it were busier.  We'll likely see the sales continue at this rate until mid March where things pick up through to June.  If you are looking to sell your home in Fort McMurray, it would be best to capitalize on those busy months.  A mid to late March list date will ensure you capture the activity between April and June.  On the other hand if you are looking to buy, its sometimes best to avoid the busy months as there is more buyer

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I loved reading this news.  The project named ReLeaf Fort McMurray will begin in the Spring and will focus on urban green spaces affected by the forest fire. Click the Edmonton Journal link below for more information on this great project!

https://edmontonjournal.com/news/local-news/tree-planting-charity-announces-1m-reforestation-project-near-fort-mcmurray

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I can't say I was sad to see the end of 2016.  It was an incredibly tough year and many are still in the midst of dealing with insurance companies and rebuilding their homes.  I have hope though, that we will remain supportive of one another and start to see some real progress as 2017 unfolds.  I am looking forward to seeing some normality in Fort McMurray, although it might not come until later in the year with several factors playing a part.

The Rebuild:

I’ve read a few articles over the holidays which suggested we were going to see a larger building boom than in the peaks of oil sands activity.  That is not hard to believe and it hasn’t really gotten underway yet.  A few managed to get their homes started before the weather turned but the

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We wanted to let you know that one of our local home builders now has a show home set up in the city.  We have worked with ABI Homes in the past and they are committed to great customer service and quality custom builds.  ABI Homes also offers assistance and advice to their clients when dealing with insurance companies to obtain rebuild funds.  In one such case, they assisted a client in obtaining an additional $100,000 from their insurance company who had grossly underestimated the rebuild value.  

If you know of anyone in need of a builder, please feel free to contact us so that we can provide further information about ABI Homes or set up a time to see the show home.  Similarly,  if we can do anything to help you or if you have general market

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