Well Fort McMurray it’s been a wild ride over the last 18 months for all of us. But our city is no stranger to trying times, be them natural disasters or market fluctuations. Of course, now we can add to the list pandemics. We always prevail! While it does feel like these times will never end, I am hopeful for 2022.
If the real estate market in 2021 had a theme, it would be supply supply supply – specifically a lack of supply of homes for sale. This past Spring was the lowest supply of homes for sale but the trend continued throughout the year. The lack of supply supported listing prices and the modest gains in average sale prices. While detached homes saw the strongest year over year increase in average price, semi-detached, row & apartments all saw increases as well. The real estate market was very active this year with 9 out of 10 months so far seeing double digit increases in the number of homes sold (year over year). Predictably, March (82.1%), April (496%) & May (83.8%) months had the biggest increases in number of homes sold vs. the prior year. You don’t need to take my word on these figures, visit the Fort McMurray Real Estate Board’s stats page to find more/all details.
While things may be a bit quieter this time of year through till the Spring market hits again, we’re still seeing an active market which means you shouldn’t be scared to buy or sell a home in the Winter months. In fact it may be the perfect time! Let’s talk if you’re considering.
So as the final days of 2021 are near, I’m excited for 2022 and wish you, your family and all of Fort McMurray a happy, healthy and safe Holiday Season!
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Source: Colin Blog Import