Condo prices plummet 8% in Fort McMurray

penhorwoodcondos1

Oct 4, 2012 at 1:50 pm in News by tyler.king

Here’s something you don’t hear every day – homes getting cheaper in Fort McMurray.

The Royal LePage house pricing survey for the third quarter shows standard condos in the city dropping 8 percent in price.

It’s still about $100k above the national average, at 350 thousand dollars.

President Phil Soper says the change in the maximum mortgage length from 30 to 25 years had a major effect.

But nationally, standard condo prices are up almost 2 percent.

October 4, 2012

Share