What Does Fort McMurray's fall: A housing bust hits Canada's energy Do?
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Share this Story: The average home in Fort Mc, Murray has actually lost $117,000 or 20% of its in worth in one year Breadcrumb Path Links The average home in the heart of the oilsands has actually lost $117,000 or 20% of its worth in simply one year as the collapse of oil prices hit realty markets across Alberta Author of the short article: Postmedia News Publishing date: Nov 23, 2015 November 23, 2015 3 minute checked out Postmedia News Post material The slumping oilpatch in Alberta continues to take its toll on the Fort Mc, Murray housing market, as the typical MLS list price of a home in that northern community plunged by more than $117,000 in October.
Article material Information acquired from the Canadian Property Association shows that the average sale rate for the month of $468,199 was down 20 per cent from $585,438 in October 2014. Sales likewise plunged by 41 percent to 85 from 144 a year earlier. Year-to-date, MLS sales in Fort Mc, Murray are down by 44.
The oilpatch slump is being felt in real estate markets across the province. In October, Lloydminster saw MLS sales dip by 54. 3 per cent, being up to 43 deals from 94 in 2015 while the Alberta West area experienced a decrease of 52. 7 per cent, dropping to 70 from 148 a year earlier.
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Article content Year-to-date MLS sales in Alberta are down 21. 1 per cent from last year. Besides Fort Mc, Murray, the CREA statistics show the hardest hit areas in the province are Lloydminster (down 34. 1 percent); South Central Alberta (down 31. 6 percent) and Calgary, (down 28.
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Calgary's resale housing market led the country in October in an unfavorable way. MLS sales in the Calgary region were 1,810 for the month, down 36. 4 per cent from a year ago. The rate of decrease was the highest among Canada's major real estate markets, according to a report by the Canadian Property Association.
9 per cent to 4,327 transactions. Across the country, however, MLS sales were up 0. 1 per cent to 41,653. eXp Realty said national activity stood near the peak tape-recorded earlier this year and reached the second greatest monthly level in practically six years. Advertisement This ad has not loaded yet, however your short article continues listed below.