I am having trouble finding MLS stats for Fort McMurray. I suspect year over year sales are down but I can only find information heavily filtered by the Real Estate Industrial Complex.
The Edmonton Journal qualifies any downward indications with quotes from a local REALTOR.
'Seasonal slowdown' for home prices in Fort McMurray
"It's a seasonal slowdown, which is normal before Christmas," Milly Quark, president of the Fort McMurray Real Estate Board, said Wednesday.Then there was another news item linking to some real estate investment site:
Prices in this northern Alberta centre also dropped slightly in October 2006 -- then rose for 11 consecutive months. "Canada Mortgage and Housing Corporation is predicting a price increase next year," Quark said.
On the supply side, "land is at a premium," Quark said.
Building lots are selling for $345,000.
"I understand they are going quickly," she said.
Capital appreciation is currently very high at around 20% pa meaning investors are faced with a wholly positive real estate outlook. Investing now will allow them to ride the wave of success that Ft. McMurray is enjoying and should guarantee very significant returns.Executive Suites
Gross yields up to 26%With average prices for SFH at $625K is it still reasonable to assume that the 20% yearly appreciation will continue? Is there an equilibrium price even with fast-paced oils sands development or do prices continue upwards?
1-bed Apt (56sqm) = C$ 350,000 (~£176,768)
Based on the price for this investment the gross yield is extreme. With a price of $350K the rent would need to be over $7500/month or $250/day for the stated 26% yield. Rents and even hotels rooms are far below under these amounts.
Still looking for monthly stats i stumble upon more advice
An Important Note for Fort Mcmurray Real Estate BuyersAre there any Fort McMurray stats published online? Just numbers.
Many times Fort Mcmurray Real Estate buyers avoid using the services of a REALTOR under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's real estate Broker. This can be an expensive mistake when buying a home.
Update: Thanks Laura for the link http://www.woodbuffalo.net/AboutCostHouse.html