The average price of a single family home was down more than 10 per cent in January, selling for $631,014 on average, according to the Fort McMurray REALTORS®.
Sales were up compared to the same month last year, however, by 45.45 per cent with 32 homes sold last month compared to 22 in January 2015.
There are 404 properties on the market this year, compared to 411 at the same time last year, a 2.19 per cent decrease.
Newly listed properties are down 4 per cent with 144 listed this January compared to 150 in January 2015.
The average days a home stays on the market has increased from January 2015 when it was 144 to January 2016 when homes are staying on the market 168 days on average.
The REALTORS® said the increase in average days on the market reflects that buyers are taking their time considering all their options and buyers responding to current economic conditions.
With a decrease in inventory and sales staying relatively the same the market is remaining stable, they said.
