Local Housing Market Continuing To See Higher Sales, Prices Year-Over-Year

August was another decent month for the local housing market.

According to the Fort McMurray REALTORS® latest report, 60 single-family detached homes were sold at an average price of around $515,000.

This is an increase from the 48 sold in the same period last year, while these new sales averaged around $39,000 more.

Last month’s numbers are down from previous months, however, the REALTORS® note the slight decline was somewhat offset by the sharp pullback in inventory levels.

There are currently 414 listings on the market.

“Overall, the rise in new listings did little to change the low inventory situation in the area and the months of supply sat at just over four months, well below longer-term averages,” read the report.

In the first eight months of 2021, 556 single-family detached homes have been sold at an average price of around $531,000.

When including apartments, mobile with land, and other forms of properties, there have been a total of 926 sales.

There were 881 sales throughout 2020.

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