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All Blog Entries by Dickason Homes

Found 35 blog entries published by Dickason Homes.

As many of you might already know, Joelle and I have recently made the very large decision to start a new adventure together. We were married in Halifax nearly 18 months ago and since that time, we’ve had a feeling that one day we would call Halifax our home. A place nearer Joelle’s family in New Brunswick and my grandparents in England. That day it appears, has come much sooner than we first imagined. It is with mixed emotions, that we are saying good bye to Fort McMurray.

We want to make it extremely clear that this decision does not come because we doubt strength of our city to recover economically and from the disaster of the fire. We are leaving to pursue a new challenge and to be closer to those who will need us more, day by day.

During

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What is RMS and why do we have it?

As of October 1/17, new real estate measurement standards have been put in place which will change the advertised square footage of many properties. Over the past several years, there have been numerous court cases relating to the square footage of property and its value.  Cases where a buyer finds out their new house is actually 200 square feet smaller than they thought, for example.  When the courts asked the Real Estate Council to provide their standards of measurement for residential properties, they did not have one.  The courts then mandated they develop a standard and enforce all members of the industry to abide by it. The goal, to create consistent measurement practices across the province that buyers and

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The equally short answer is yes, it was.  Since our slump started in 2015, we would usually see two months in the year where sales were stronger than the rest.  I had anticipated the same this year, but June fell substantially short of May numbers.  In fact, sales dropped by 30%.  This almost certainly means we will not see a recovery in prices this year (not that we really expected that, anyway).

The Bigger Picture

For some overall perspective, there have been 374 single family sales in 2017 to date.  Coincidentally, the first six months of 2015 saw that exact same number.  All things considered in 2016, it fell short at 183 sales over the same period.  So, we have a dramatically improved market from 2016 and one comparable to 2015.  Prices

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Fort McMurray Real Estate – Your May Market Update

May has nearly come and gone!  For obvious reasons, we aren’t able to compare activity this month to May last year.  What I can tell you is that sales continue to show signs of strength, possibly gaining in momentum for the next month or so.  Currently there have been 51 firm sales in May with a further 44 conditionally under offer.  These numbers mean that May will almost certainly be the busiest month this year to date.

Average prices are creeping up as they often do during the busy months but they will likely stabilize moving into summer. The pace of new listings remains fairly consistent and using a three month average, our inventory has eight months of supply.  If we see sales

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What is the Fort McMurray real estate market doing in April?

This month, I've broken down the three different segments of the market to include Single Family homes, Mobiles and Condominiums. To access the information you are most interested in, follow the links below:

Single Family

Condominium

Mobile

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What's happening to the mobile home market in Fort McMurray?

The mobile sector is showing signs of improvement from last year but there is still a lot of pressure on the sector.  We have fewer homes on the market this year and sales are definitely higher.  Last February for example, only one mobile sold in comparison to 12 this year.  However, with 83 listings and at the current rate, it would take 10+ months for everything to sell.  Anything above six months is considered a buyers market.  

Conclusion:  An improvement? Absolutely.  But pressure remains and prices will likely continue to reflect the high competition between sellers.  

Buying a home in Fort McMurray?  

Ask us about our Exclusive Buyer Program.  When you work with

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What's happening to the condo market in Fort McMurray?

While 2017 sales have outpaced those in 2016, the condominium market is still lacking activity moving into spring.  Sales increased fairly dramatically in February which could be because of companies buying condos to house their employees for the rebuild.  However, since that time, sales have slowed again.  Average prices crept up in March because of the increased activity in February but it looks as though that will be short lived.

We have 183 listings which is 12% less than last year.  At the current rate of sales and if nothing else were listed, it would take 8 months for everything to sell.  3-6 months is considered a balanced market but we aren't far off that now. This time last year we

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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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