Royal LePage CEO Phil Soper is in Fort McMurray today to donate more than $47,000 to the Red Cross and to Unity House, the local emergency women’s and children’s shelter.
$15,000 will go to the Red Cross on behalf of Royal LePage as a corporation, to assist in general rebuilding and restoration efforts in Fort McMurray.
“Canadians watched in horror as wildfires raged out of control in Northern Alberta, engulfing Fort McMurray, laying waste to homes and businesses and threatening the lives of many,” said Phil Soper, president and chief executive officer, Royal LePage. “As soon as the extent of the tragedy became evident, people from Royal LePage offices across the country began to reach out to me, asking simply, ‘what can we do?’. Our brand promise is ‘Helping you is what we do’ and it was in that spirit that the women and men of Royal LePage came together to raise funds with the hope that rehabilitation efforts in Fort McMurray will be accelerated, allowing many to close the book on one of the most trying chapters in the region’s history.”
More than $32,000 will support Unity House thanks to the generosity of individual Realtor® contributions, and brokerages which elected to earmark proceeds generated from the Royal LePage Shelter Foundation’s flagship event, the National Garage Sale for Shelter, to Unity House.
In honour of Royal LePage True North Realty in Fort McMurray, a longstanding and generous supporter of Unity House, the company raised approximately $32,000 for the emergency shelter.
“Due to the wildfires in the region, this year for the first time in many, we were sadly unable to participate in the National Garage Sale for Shelter, a fundraiser that contributes much needed support to Unity House, our local shelter,” said Marian Barry, broker/owner, Royal LePage True North Realty. “My team and I were truly overwhelmed by the staggering amount of support received from our Royal LePage colleagues across the nation, who stepped in to fill, and exceed, this need, raising funds that will go a long way in helping many women and children seeking shelter during this difficult time.”
All the donated funds will be used locally.
Royal LePage has also released spring housing numbers for the region and a forecast for what’s to come.
Despite the devastating effects of the fires, Fort McMurray’s real estate market has been remarkably resilient, according to Royal LePage.
Home prices have remained relatively stable throughout the first half of the year, as low inventory levels have been met by a renewed sense of demand. During the second quarter of 2016, the aggregate price of a home within the region slipped a mere 2.09 per cent quarter-over-quarter to $588,843.
When broken out by housing type, the median price of a single family detached home declined by 1.3 per cent quarter-over-quarter to $652,077 while the median price of a semi-detached dwelling remained relatively stable, slipping 0.26 per cent to $473,910. During the same period of time, the median price of a standard condominium actually saw a healthy increase, rising 5.77 per cent to $220,957.
Looking ahead to the remainder of 2016, Royal LePage forecasts that prices of homes across Fort McMurray will remain relatively unchanged.
“From a housing perspective, the most obvious challenge in Fort McMurray is the availability of homes,” added Soper. “The wildfires destroyed thousands of properties – this in a region where inventory is always straining to keep up with demand.”
The good news, he said, is twofold.
“Firstly, people have kept the faith, fully expecting that the energy economy will rebound. This optimism has supported home prices, which have been remarkably resilient in the face of such adversity,” he said. “Secondly, there is a renewed sense of buyer confidence evident in Fort McMurray’s real estate market as the plans for rebuilding begin to take shape. With each passing day, the market is returning to normality, with new listings coming on-stream.”
Soper said that while 2015 sales levels were hampered by low oil prices, it is nonetheless very encouraging that we now see 2016 sales eclipsing last year’s activity levels.
