April 17th, 2022 to April 24th, 2022

 

With spring in full swing the market continues to be robust. Are we in a seller’s market? This is the case in many sectors of the Fort McMurray Real Estate market.

  • Overall Inventory: The number of new listings entering the Fort McMurray market declined sharply again this weekOverall inventory is down. The number of homes sold increased a bit however the number of homes that received offers took a significant jump upwards.  
  • Average days on market dropped to 73.
  • List to closed price ratio rose at 98%. This means negotiating sale price has become tighter on average.

Higher sales and lower inventory levels caused increased competition among Fort McMurray home buyers, and this can be seen through higher sale prices compared to listing prices.

 

The threat of impending rate hikes have long been looming over Fort McMurray’s housing market as buyers look to lock in mortgage rates before any potential increases. The possibility of higher Alberta mortgage rates and reduced home affordability may drive increased demand over the next few months.

 

Check out last week’s Fort McMurray Statistics:

  • 36 Sold Homes 
  • 46 Pending Homes 
  • 32 New Listings 
  • 274 Active Listings  

Your home has most certainly changed in value from 2021 and condos are following suit with increased sales and strengthening values.

 

Take advantage of a complimentary consultation on how to prepare your home for sale? We would love to share this information with you! 

 

With the shortage in inventory NOW is the perfect time to put your house on the market.

 

The Lore Group offers one of the most comprehensive marketing programs in Fort McMurray designed to sell your home fast and for top dollar. Did you know we have a kiosk at the YMM airport to market your home for better exposure?

 

DON’T WAIT! Reach out to us for a no obligation FREE MARKET EVALUATION  

 

The Lore Group - Coldwell Banker Fort McMurray

Phone: (780) 370-3325

 

Fort McMurray Residential Market Update - Feb 13-20