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Summer lulls can't dampen Realtors sunny outlook

Image supplied by Fort McMurray Realtors®

Amidst a cloudy housing market, sales for 2022 presented Fort McMurray Realtors® with a silver lining.

Total sales continued to slide over the summer at 82 for last month for a decline of more than 14 per cent year-over-year.

However, in its monthly update, Fort McMurray Realtors® found some sunny optimism.

“Despite the pullbacks recorded over the past several months, year-to-date sales still improved over last year’s levels and remain well above the levels recorded prior to the pandemic.”

The average price among all property types was more than $365-thousand, which also represents an over 12 per cent drop year-over-year.

New listings also increased in time for the fall, up 23 per cent from 2021 and more than 20 per cent this year-to-date.

Realtors® said inventory levels near about seven months supply.

“This is a significant gain relative to both levels seen earlier this year and August activity prior to the pandemic.”

There are 568 total units across Fort McMurray, including 373 single-family detached homes.

On that subject, the average price of detached homes in August fell to more than $520-thousand, which figures to a three per cent drop compared to last year.

“Despite these recent shifts, year-to-date prices have remained relatively unchanged compared to last year. However, should these conditions persist, we could see further impacts on price.”

Townhomes sold for more than $268-thousand, and apartments at just over $120-thousand.

Year-over-year figures show increases of nearly 34 and 18 per cent, respectively.