Real Estate Forecasts

Fort McMurray – Year-To-Date Real Estate Forecasts

The monthly real estate growth forecasts for February 2014 on average residential prices are up from a year ago; in particular for Fort McMurray – up 5 percent according to the Canadian Real Estate Association.

Although some statistics indicate a slight decrease in the number of new home listings in February by five percent in some real estate boards, the value of total volume sales and units in Alberta are up to two percent from a year earlier.

The Canadian Real Estate Association reports:

“The value of all home sales in the province totalled $1.9 billion in February 2014, up 10 percent from February 2013.” The report goes on to state “Sales of all property types in Alberta numbered 4,868 units in February, down three-tenths of a percent from February 2013. The value of those sales amounted to $2.0 billion, rising seven percent from a year earlier.”

Fort McMurray’s February Summary shows its Residential Dollar Volume of Sales at $93,579,774, the Year-to-Date total Dollar Volume at $142,523,024, and the Average Residential Price Year-to-Date being $618,533.

Inter-provincial and international immigration into the region continues to be an inspiring and creative factor in the real estate development of Fort McMurray. Local municipalities continue efforts to attract more visitors as well as to build cohesiveness with its local community through expansion efforts and to offer greater attractiveness in the city centre area development plans and projects.