Fort McMurray inventories tighten amid cooling housing market
As the housing market cools across the country, that trend has visited homes in Fort McMurray.
In a release, Fort McMurray Realtors® said strong sales and low inventories caused supply to drop to just over two months.
Year-to-date sales totaled 526, which represents a 20 per cent increase over levels from this time last year.
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Inventory stood at 373 units in April, nearly 50 per cent below long-term trends.
Realtors® noted as the market tightens its belt, total home prices have only risen by three percent in 2022.
According to the Alberta Real Estate Association, the price of a single-family detached home in Fort McMurray stands at $568,576, which represents a nearly five per cent increase year-over-year.
Apartments sold for just over $128,000, which is an increase of about 11 per cent compared to 2021.
Meanwhile, townhomes sold at around similar numbers year-over-year at $225,742.