Condo prices plummet 8% in Fort McMurray
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