Local Housing Market Continuing Strong Stretch, Average Price Increasing Year-Over-Year

The local housing sector is continuing to have one of its best stretches in recent years.

According to the Fort McMurray REALTORS® June report, 83 single-family detached homes were sold at an average price of around $533,000.

This is an increase from the 70 sold in the same period last year, while these new sales averaged around $47,000 more.

The number of sales is also on par with those seen in March, April, and May.

In the first half of 2021, 426 single-family detached homes have been sold at an average price of around $538,000.

When including apartments, mobile with land, and other forms of properties, there have been a total of 702 sales.

There were 881 sales throughout 2020.

Meanwhile, inventory levels remain at their lowest point since 2007.

As of the end of June, there are 417 listings on the market.

“These tighter conditions are supporting some price growth, but mostly in the detached market,” the report read.

In total, the average price has grown around three per cent.

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