Fort McMurray Real Estate Market Overview: September 2015
The beginning of Fall saw the housing market in Fort McMurray remain active.
There was a healthy inventory of single family homes and residential condominiums on the market in September. There were 761 single family homes for sale in September. This was up marginally from the 742 homes available in August. The market saw a wide variety of homes for sale across several price points. We saw people take advantage of the healthy inventory and helped buyers purchase first homes, move-up homes, as well as investment properties.
There were 370 condominiums on the market in September. This was a slight decrease compared to the 377 condominiums available in August. Fort McMurray buyers are definitely taking advantage of the options in the local condominium market. The variety of condominiums available across the city make this type of purchase attractive to first time buyers looking for budget friendly options as well as luxury buyers who see the value in projects such as The Waters Edge in the Waterfront District.
September was a good month for buyers and investors as many were able to purchase properties at slightly below the original list price. In September, the median price for residential condominiums was $382,400 and the median sale price was $350,880. This was an adjustment from a few months earlier in the year that saw condominiums selling for above the listing price.
Buyers looking for single family homes has a similar experience and many were able to purchase their dream home for less than the original list price. The median list price for a single family homes was $679,900 and the median sale price was $647,500. Most sellers were prepared for this discrepancy and were still pleased at the final selling price of their homes.
Headed into October, there is still a wide variety of homes available. Let us know if we can help you buy or sell a home in Fort McMurray.
*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.
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