Local Housing Market Heating Up

After a year-long dip in real estate prices, things are looking up for the area’s residential housing market.

The average housing price in Fort McMurray has shot up by over $35,000, according to a report released from the Canada Mortgage and Housing Corporation.

“There’s been a definite increase in market activity compared to the recession times we’ve seen last year,” said Colin Hartigan, president of Fort McMurray Realtors. “That’s all been a direct reaction to consumer confidence rebounding and interest rates being so historically low.”

In September 2009, the average price of a single-family home was $605,208. At the end of February of this year, it was $640,620.

For the entire article, please visit The Fort McMurray Today.

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