Fort McMurray Real Estate in a Freefall....

The Fort McMurray Real Estate Board reports that overall sales are down 64.7% in February 2015 compared to last year. Although prices are the last statistic to change in any market correction or recovery prices in the Fort McMurray area are dropping as well. The average price of a single-family detached home has fallen from $789,740 to $746,202 in the same period. The story is similar but not as extreme with Calgary and Edmonton. Regardless of the logical explanations for these changes I think this once again proves that there is always a moderating effect. When a market rises or falls dramatically there is a always something that turns that around just as abruptly. 

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Bill Hubbard

Bill Hubbard

Broker/Owner
CENTURY 21 Executives Realty Ltd.
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