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Local housing market starts strong in 2020

Last Updated Feb 10, 2020 at 12:02 pm MST

IMAGE. Supplied by Fort McMurray REALTORS®.

Fort McMurray Realtors® reports a strong start to the city’s real estate market.

They report sales in single-family detached homes were the strongest since the 2019 spring market.

Realtors® sold 51 total properties, which is up nearly 89 per cent from last year’s figures.

However, inventory remains low with reports of multiple offers.

The average sale price is $506,607, which is down 4.7 per cent from January of last year.

Despite the decrease, it’s still above the December 2019 sale price of $451,714.

There are 230 current listings including 78 new listings, but both are decreases of at least 17 and 21 per cent respectively in both categories.

Realtors® suggest getting homes in order for the 2020 spring market.

Meanwhile, sales for apartment condominiums exceeded last year’s results despite a reduced inventory of 26 per cent from 138 to 102.

Although inventory increased more than seven per cent, mobile with land remains consistent to last year.