The Real Estate market in Fort McMurray is moving fast. You have heard the news, seen the posts and likely experienced it if you are currently looking to buy or sell. But what does that look like exactly:ย
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99 homes SOLD in January
70 homes pending going into February
16 Sold either at list price or over
12 firm sales within the first two weeks of being listed
385 Active Listings
125 New Listings
Average List Price to Sales Price ratio: 97.1%
โAverage Days on Market: 61โ
*Based on Fort McMurray, Anzac, Gregoire Lake Estates & Saprea Creek
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We have two sections of the market right now that are selling very well.
๐)Between $400,000-700,000 has seen a high number of sales so far. This range is typically sold to individuals looking to either get into the market as a first time home buyer or a move-up buyer looking for more space in that “forever” home. Within this pricing you are able to find a wide range of options including: duplexes, single family homes, age ranging from 1967-brand new, with/without garage, lot size variances, legal/illegal suites, family homes etc. With the potential of having rental income, this section of the market can be quite affordable to many. Monthly mortgage amounts would range from roughly $1800-3000 based on the minimum downpayment requirement.
๐) We are also seeing a large number of sales under $150,000. Over the last couple years I have personally worked with quite a few investors looking to start or build their portfolio. Having inventory in this price range gives individuals the chance to become a landlord whether it may be their first or tenth investment property. This price range not only serves investors but also first time home buyers, flippers, commuters and families. Within this range you are able to secure a home anywhere from a 1 bedroom apartment (or studio apartment) to a 3 bedroom townhouse with an attached garage.
At the end of the day, if you are in the market to buy or sell, being informed and prepared is essential. Talk to your realtor about your wants and needs and ensure you have a plan on how you are able to reach your end goals. A busy market does not mean you have to settle, we are able to pivot with the market and apply different strategies to finalize that sale or find you the house of your dreams.
As always, if you or someone you know is looking to buy or sell, I am happy to help!
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Krystal Jessome
Coldwell Banker Fort McMurray
D: 587-919-7499
E: krystaljessome@gmail.com