Fort McMurray Housing Market: February 2025 Update

Fort McMurray had a busier February and inventory started with a low base this year. Most importantly, the rate of new listings this year has so far been down 20% vis-a-vis last year.

The result is that we are heading into real estate season, but the number of homes on the market is the same as it was on January 1 2024.

We expect prices to rise in the Fort McMurray market this year, and this is the first time we have ever made that call, except after the 2016 wildfire.

Interestingly, when you look at the table, you will see that the only parts of the market which are not in a seller's market are the lower ranges without condo fees, because they remain well supplied with foreclosures. The move-up market is strong, as is the middle market.

BUYERS: This could be a good moment to pick up a foreclosure for a flip.

SELLERS: If you value low-stress & ease this spring: Now is a good moment to reach out to Breanna for an updated pricing document for your property. That being said, we're only just coming off the bottom of the market, so the numbers might not be thrilling. If maximizing the home sale value matters more than a stress-free sale, the advice might be to wait a few months or even to last year - but that also entails risk that appreciation is derailed either by an unknown unknown, or by a rush of listings this spring in response to positive news in the real estate market.

Next month we will likely be marking Fort McMurray as a "seller's market" as sentiment and stats will have been flashing blue for a full quarter by the end of this month.

There is a growing sense around town that political winds of change in Canada & abroad may ultimately lead to a more favourable investing environment for oil & gas in Canada. Pipelines anyone?