As we transition into the fall months towards winter, we’ve started to see an even larger increase in the total number of homes available as people are looking to sell before the holidays and get ahead of rising interest rate concerns. Interest rates are still reasonably low and this is a perfect time for buyers to lock in mortgage rates and enter the market.

Check out last week’s Fort McMurray market data: 

• New MLS listings entering the Fort McMurray market decreased last week. Overall market inventory trended downwards a little as more sellers removed their homes from the market.
• The number of homes that received offers and the number of homes rose.  There were 39 price decreases market wide which continue to indicate further softening.
• Average days on market lowered to 79.
• Close price to the original list price came up slightly to 94.1%.

Check out last week’s Fort McMurray Statistics:

What a beautiful Thanksgiving weekend! We were blessed with amazing weather and hope that all of our friends shared a special time with loved ones.

While the weather stayed warm the Real Estate market remains cool and it is predicted this will continue into the winter.

Check out last week’s Fort McMurray market data: 

• New MLS listings entering the Fort McMurray market experienced an increase last week. Overall market inventory trended downwards a little as more sellers removed their homes from the market.
• The number of homes that received offers lowered as did the number of homes sold.  The market saw 40 price decreases.
• Average days on market took another upward swing to 83.
• Close price to the original list price came down to 93.4%.

Check out last week’s Fort McMurray Statistics:

This past summer and fall have seen the Fort McMurray Real Estate market experience significant change. As was predicted, sales have slowed up and the market has definitely softened. The increase in available inventory as well as the increase in interest rates have definitely taken the heat out of the extreme seller’s market that we had earlier this year. This shift gives buyers a great opportunity to have access to a strong listing pool.

A continued gradual cooling trend is anticipated in the upcoming months. The market is still considered to be stable.

We are in a time where it is really important to work with a knowledgeable, experienced Fort McMurray Realtor to get you the most from your experience. A mistake in listing price in these types of conditions can cause Sellers to leave money on the table or buyers to pay more than necessary. Strong negotiation skills are key!

Check out last week’s Fort McMurray market data: 

• New MLS listings entering the Fort McMurray market experienced a significant decline. Overall market inventory trended downwards as many sellers removed their homes from the market.
• The number of homes that received offers increased and the number of homes sold rose slightly.
• The market saw 68 price decreases which indicate continued downward pressure on the Real Estate Market.
• Average days on market took another upward swing to 70.
• Close price to the original list price has increased to 96.4%.

Check out last week’s Fort McMurray Statistics:

While we continue to see the Fort McMurray real estate market cooling down after a record-breaking period earlier this year, there is still a fair amount of activity happening. Although we’ve seen average prices decrease month-over-month across the board homes that are properly positioned in the market are selling. Buyers have a wonderful opportunity to view many homes currently on the market and find the perfect fit for their family.

Check out last week’s Fort McMurray market data: 

• New MLS listings entering the Fort McMurray market were somewhat lower this week. Overall market inventory is still trending upwards.
• The number of homes sold lowered however the number of homes that received increased balancing out the number week over week. There were 55 price decreases which indicate the market continues to cool.
• Average days on market rose to 60.
• Close price to the original list price has dropped marginally to 94.7%.

Check out last week’s Fort McMurray Statistics:

The air is crisp and the leaves have begun to turn. This is a favorite time of year for many. We think of pumpkin pie and spiced hot apple cider and all those beautiful fall walks through the birchwood trails and along the River. This is the time of year that many home buyers begin to shop for that new nest before the cold of winter sets in.

It is a perfect time for home buyers to take advantage of the high inventory, lower prices, and lots of choices. Searching for that perfect family home can be so much fun at this time of year. Grab some coffee and make a day of it.

Being armed with the latest Real Estate information is key to getting the best deal and for sellers this information with prepare you to properly position your home in the market for a faster sale at the best price possible.

Check out last week’s Fort McMurray market data: 

• New MLS listings exploded upwards last week. Overall market inventory is trending upwards.
• The number of homes sold rose slightly however the number of homes that received offers fell. There were 62 price decreases which indicate the market continues to cool.
• Average days on market dropped to 55.
• Close price to the original list price has weakened a bit further to 95%.

Check out last week’s Fort McMurray Statistics:

The headwind growing in front of all Canadian housing markets is the rise in mortgage rates. On September 7th the Bank of Canada raised the overnight lending rate by .75%. That sends us a message that they are not finished with their interest rate increases to reduce inflation. The mortgage rates are already following. With each increase, a small sliver of the population can no longer buy at all or can no longer buy the type of house they want to buy.

Mortgage rates are still affordable. We don’t want to sound like a broken record but if they continue to push those interest rates up the downward pressure on prices and sales will continue proportionally. It’s possible that we will actually see a bit of an increase in absorption and sales activity when we do the statistics for September.

Kids are back in school, parents have a little more time to house shop and traditionally we see a little bump in early fall. Sellers we encourage you to properly position and prepare your homes to take advantage of the fall market. Are you a buyer considering a purchase we encourage you to lock in your rate and get shopping, there are some great options in Fort McMurray. Want to know what homes are for sale in your neighbourhood? We would love to share that information with you and provide daily updates about new homes coming to market.

Check out last week’s Fort McMurray market data: 

• New MLS listings entering Fort McMurray decreased last week. Overall market inventory dropped just slightly but continues to support a buyer’s market.
• The number of homes sold dropped however the number of homes that received offers took a leap upwards. There were 52 price decreases which indicate the market continues to soften.
• Average days on market rose to 61.
• Close price to the original list price has weakened further to 94.9%.

Check out last week’s Fort McMurray Statistics:

Well folks this is it. School is in and the last days of summer are behind us as we look towards the fall Real Estate market. Conditions remain uncertain with growing inventory and rising interest rates. It is a buyer’s market.  

What is a Buyer’s Market?

Well, folks, this is it. School is in and the last days of summer are behind us as we look towards the fall Real Estate market. Conditions remain uncertain with growing inventory and rising interest rates. It is a buyer’s market. The market is when there are six months of inventory It’s a more challenging market, but you have more time to plan.

Time is one of the biggest benefits for sellers listing in a buyer’s market.

In a buyer’s market, you list your home knowing maybe two or three months before you get an offer. That gives you plenty of time to pack and to line up a place to move into—which is another big bonus. After selling your home, you get to reap the benefits of being a buyer in a buyer’s market. It can be a good trade-off.

Of course, market conditions impact your home’s value.  Luckily, for homeowners who list in a buyer’s market, there are ways to ensure you sell in a timely manner and for a respectable price and The Lore Group has the resources and skills to do just that. Is now a good time to sell a house. It absolutely could be there are buyers coming into the market with the goal of being in a new home before the Christmas Holidays.

Check out last week’s Fort McMurray market data: 

• New MLS listings in Fort McMurray increased again last week outpacing the weekly listing number thus far in 2022. Overall market inventory continues to increase supporting a buyer’s market.
• The number of homes sold dropped as did the number of homes that received offers. There were 53 price decreases which indicate the market is further softening.
• Average days on market lowered to 56.
• Close price to the original list price has weakened to 96.6% meaning that there is more negotiating space in the overall market than previously.

Check out last week’s Fort McMurray Statistics:

Fall is in full swing and as families enjoy the final days of holidays, warm weather, and preparing the kids for school we are gearing up for the autumn Real Estate market. Traditionally when school commences buyers turn renewed attention towards finding a home before the Christmas holiday season.

Great news for Fort McMurray home buyers is double the inventory we had in May 2022 so there are lots of fantastic homes to choose from.

People currently planning to sell a home will take heart because home values have held reasonably well in many sectors over the summer and they might want to push ahead and sell. Keep in mind that it will be important to price correctly as inventory levels continue to rise.

• New MLS listings in Fort McMurray trended downwards. However overall market inventory has slightly increased.
• The number of homes sold lowered. Homes that received offers increased week over week.
• Average days on market increased to 87.
• The list price to closed price remained steady at 96.6%.

Check out last week’s Fort McMurray Statistics: