The number of single-family detached homes sold across Wood Buffalo is seeing a slight decrease year-over-year.

That’s according to the Fort McMurray REALTORS August report which notes 48 homes were sold last month at an average price of around $476,480.

This is down from the 51 properties sold in 2019 which averaged just over $500,000.

“Following two months of improvements, sales in the area eased in August contributing to the year-to-date decline of 13 per cent,” read the report.

“The decline in sales was somewhat offset by the sharp pullback in inventory levels which currently sit at 447 units, the lowest August recorded since the early 2000s.”

The Realtors note prices throughout 2020 have dropped by four per cent compared to those in 2019. Since 2015, prices have decreased by around 40 per cent.

“Given the challenging economic climate it is not a surprise that prices continue to trend down,” the report added.