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Fort McMurray housing market continues to stabilize

Last Updated Oct 16, 2018 at 8:49 am MDT

IMAGE. Supplied by Fort McMurray REALTORS®.

Fort McMurray REALTORS® have reported a month over month increase in home sales this year, showing signs of a stabilizing market.

The report, released Monday, shows that 52 homes were sold this September compared to 32 last year, while the number of active listings continues to decrease.

The average selling price for a single family home decreased by 8.22 per cent from $633,532 in September of 2017 to $581,437 this September.

Current listings on the market have declined by 28.64 per cent with 314 single family homes for sale, compared to 440 last year.

Despite signs of a stable market it’s unknown how many rebuild projects, which are expected to finish in the next few months, will come to market.

Townhouses and condo sales are struggling with decreases of 54.55 per cent and 66.67 per cent respectively.