There hasn't been a better time to buy in Fort McMurray in the past three years then right now. Since October 2008 we have watched the listing price of single family home drop. The number of sales each month has been in the 30's a compared to the 100's in the past few years. The average price is down about $40,000 over the same period last year, but still up from three years ago. March 2009 will be seen as the turning point in our market, the sales volume has incease to near normal levels for Fort McMurray at just under 100 unit for March.
What has caused this change? Near record low interest rates, oil prices are around the $50 a barrel range. The recent news that Suncor is purchasing PetroCan and the fact that all the major oilsand players are still hiring staff position. Are all signs that Fort McMurray is ready to start leading Canada economy again.
If you have been sitting on the fence waiting for the bottom of the market before you buy, then welcome to the bottom. Things are about to start moving again. Give me Patrick Dardis a call today to find the home of your dreams in Fort McMurray.