The Fort McMurray housing market had a standout year in 2024!
Here are the highlights:
- Sales Growth: Residential sales rose significantly, with a staggering 19% year-over-year increase compared to 2023. Last year, just for the month of November there were 79 residential sales, this year there were 114!
- Rising Prices: The average residential price climbed by 9.6%, hitting $378,946—a testament to the market’s resilience and rising demand.
- Fast Market: Months of supply dropped to 3.61, down nearly 35%, highlighting a dynamic, fast-moving market.
How Does This Compare to Previous Years?
While the Fort McMurray market faced its share of challenges over the last few years, 2024 marked a turning point. Sales growth and pricing gains outpaced historical trends, setting a robust foundation for 2025. Buyers and sellers are more active than ever, drawn by market stability and opportunities to achieve their real estate goals.
What’s Ahead for 2025?
Exciting times are on the horizon for Fort McMurray’s real estate market in 2025! With economic growth and population increases continuing to drive demand, we anticipate even greater activity in the housing sector. Adding to the optimism, the Bank of Canada’s recent interest rate cuts have significantly boosted buying power, making it easier for buyers to afford their dream homes. Sellers can look forward to favorable market conditions, while buyers will benefit from lower borrowing costs and enhanced opportunities to invest in the market. It’s a win-win!Let’s Make Your Real Estate Goals a Reality
Whether you’re buying your first home, upgrading, or selling to maximize your property’s value, now is the perfect time to act. With my expertise and personalized approach, I’m here to guide you every step of the way.Stay ahead of the game with automatic market updates tailored just for you! Buyers can easily keep track of new listings or see when properties find their new owners. Sellers, you can monitor comparable listings and stay in the know when properties sell or expire. It’s a smart way to build your market knowledge and make informed decisions. And remember, I’m here to guide you every step of the way with expert advice and support, ensuring your journey to homeownership is as smooth and exciting as possible!Nicole Krull, REALTOR®
Coldwell Banker United in Fort McMurray Alberta
Cell: 780.370.4663 | Email: krull.nicole@gmail.com