Fort McMurray Real Estate Market Overview: August 2015
Headed into the summer season, all eyes were on the housing market in Fort McMurray. With the downward trend in oil prices and uncertainty throughout the industry, many wondered how the housing market would fare.
HISTORIC SALE PRICE TRENDS: Single Family
Median sale prices for single family homes were down compared to the same time period in 2013 and 2014. In August 2013 and August 2014, the median sale price for single family homes was $710,000 and $711,500 respectively. In August 2015, the median sale price for a single family home was $655,000.
LIST TO SALE PRICE RATIO: Single Family Homes
The close price to list price ratio for the month of August was strong with homes selling at 97.60% of the list price.
NUMBER OF SALES: Single Family Homes
The main difference noted when comparing August 2015 to previous years was the decrease in the number of sales. In August 2013 and August 2014 there were respectively 121 and 92 sales of single family homes. This year saw 52 sales during the same time period.
Headed into the fall season, we are still seeing an excellent inventory of homes on the market alongside motivated Buyers and Sellers.
* Disclosure* This report is released by Brett Campbell who is a licensed agent with RE/MAX Fort McMurray. All information in this report is based on the opinions of Brett Campbell.