The average price for single-family detached homes sold is seeing a sizable jump year-over-year.

That’s according to the Fort McMurray REALTORS® who note 78 homes were sold in March averaging around $558,000.

This is around $34,000 more than the 41 properties sold last March brought in.

In fact, the first quarter was the best seen in the region since 2014.

“Improving economic conditions especially in the energy sector combined with lower lending rates likely contributed to some of the gains,” read the Realtors report.

In the first three months, there were nearly 300 sales with the majority being for single-family detached homes. Apartments have been the second most popular space during this time.

Meanwhile, the Realtors also noted inventory levels remain low, the lowest the community has seen since 2011.