What’s going on in Our Fort McMurray Market?
Real Estate Markets are constantly in flux and Fort McMurray is no exception. Our Group would love to share with you real information based on facts and statistics, and clear up some of these common recent misconceptions. For home sellers, knowing all the data and facts surrounding the market is critical to helping you maximize the selling price.
#1 The market is flooded with listings;
Currently there are only 610 active and conditional listings on the market in the Fort McMurray Region. With the exception of 2018 (a very low listing month) This is actually a 12-25% decrease in number of homes for sale compared to the same month (January) during the last 5 years.
#2 All Homes are taking a long time to sell.
This is a Myth…There are many variables which impact the number of days it takes for a home to sell. Price, marketing, area, type of property, etc. While certain properties may take longer, the average days on market in Fort McMurray for January was only 78 days… so less than 3 months. So with the right price and a great marketing team on your side your home may be sold very quickly.
#3 Spring is the best time to sell.
Historically our busiest time of year is late spring. These months tend to mean higher number of sales, as well as lower average days on market. But does that mean you should wait? Sometimes, listing your home PRIOR to the spring market can give you an advantage. There is LESS competition, and buyers are out shopping for their homes in hopes to move in before the summer.
What does this mean for Sellers? January market stats still indicate a Buyer’s market, but the market IS moving, and homes ARE selling. If you are considering selling your home, and would like professional advice and our teams strategy for a timely & successful sale, at no obligation, we would love to hear from you.
Please contact us anytime.