Fort McMurray Realtors® released its monthly report for May.
Realtors® made some adjustments due to the COVID-19 pandemic and flood recovery.
“We are experiencing a late spring market and agents are working hard for their clients. Open Houses are being held with the new normal of following all AHS standards while showing properties.”
Fort McMurray’s housing market saw more reductions in inventory last month.
The current inventory of single-family detached homes decreased by 32 per cent from 2019’s figures and new listings lowered by 29 per cent from last year.
Realtors® sold 40 of this property type last month, down 38 per cent from the 65 properties sold at this time in 2019.
The average sale price of detached homes in May 2020 is $436,966, which is almost 17 per cent lower than May 2019’s price of $508,848.
According to the Alberta Real Estate Association (AREA), the average price of detached homes is $500,706 year-to-date (YTD).
That figure is down seven per cent from 2019’s YTD.
Sales decreased for mobile with land, townhomes or row houses, and apartment condominiums.
Apartments were the only property type in May 2020 to see an increase in new listings with 22, which is up 10 per cent from last year.
So far this year, their average price is $129,864, which is down 22 per cent from last year’s YTD price.
This year, mobile with land sold at $214,867 YTD at 17 per cent lower than last year, and townhomes at $223,042 YTD or 15 per cent less than its YTD in 2019.
AREA said the total residential price YTD is $391,258, which is on par with 2019’s price.
More information on the Fort McMurray housing scene is available on the Realtors® website.
