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Condo sales increase amidst dips in July

IMAGE. Supplied by Fort McMurray REALTORS®.

July was the month for decreases in the region’s housing market.

However, Fort McMurray Realtors® reported a steady increase in price for single-family detached units compared to 2018.

Homes went on average for $558,000 during July, up 2.6 per cent from the same time last year.

This means the price of single-family homes climbed nearly five per cent since January.

Fort McMurray Realtors® also said the number of properties sold, as well as new and active listings, were typical for this time of year.

Condo sales

Despite decreases in other property types, apartment condominium sales continue trending upwards.

Condo sales increased 66 per cent from last year’s figures.

New and active listings for this type also increased up to 60 per cent.

Duplex sales fell just over 46 per cent along with the average sale price, which decreased by 15 per cent.

New and active listings for duplexes in Wood Buffalo also dipped slightly.

Townhouses this month saw the biggest decrease in sales among property types falling by 82 per cent.

Active listings did increase by nearly 40 per cent compared to July 2018.

Finally, mobile with land saw mixed results.

Despite a 33 per cent reduction in sales last month, the average sale price increased by just over four per cent.

New listings increased by 14 per cent, while active listings dropped by almost 11 per cent.

Fort McMurray Realtors® said the slight increase in the total number of listings is typical for this time of year.

There are currently almost 700 active listings on the market.