Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 7, 2022

Fall Cleanup around Your Home

Fall Cleanup around Your Home

Fall is a time for hearty meals and pumpkin spiced lattes! It's also time to get your yard ready for winter. Taking the right precautions now will save you time and energy when spring arrives, and keep you and your family safe in the yard all year long. Following our checklist of fall cleanup musts will help you get the most out of your yard next year.

1. Get rid of debris

It is easy for pests to nest in fallen leaves and weeds during the winter months. Keep critters away from flower beds by clearing them out. The foliage of rose beds can facilitate disease over the winter, so be sure to take special care of them.

2. Clean up the vegetable garden

After the final harvest, pull out old vegetable plants and remove debris. If you compost, now is the time to add a layer of compost to help nurture your soil for planting next spring.

3. Trim branches

You don't want rogue branches to fall or break off during snowfall. Trim branches that might cause issues over the winter.

4. Clean out the gutters

Not all fall cleanup is in the yard. This is the perfect time to clear leaves and other debris from rain gutters. Check for proper drainage around the home and clear out any blockages.

5. Dry everything out

Drain all water from hoses, fountains, and drip irrigation systems, and store them in a dry place. Water left standing over the winter may damage your equipment or cause hoses/pipes to freeze.

6. Aerate

Break up soil to keep water from pooling and guarantee that nutrients will reach the roots over the winter. A garden fork will do the job for small yards, but larger yards may require a walk-behind aerator.

7. Fertilize the lawn

Send your yard into winter with the nutrients it needs to survive the long, cold sleep. Add a fall lawn fertilizer with high phosphorous content to encourage root growth and enjoy a lush, green lawn come spring.

8. Rake and mulch

Don’t let fallen leaves get the best of you; if left unattended they can suffocate the grass. Rake them up, shred them, and use them as mulch for young trees, shrubs, and flower beds.

9. Prune trees and shrubs

Trim any dead branches and cut back overgrown trees and bushes. If you have spring-blooming perennials like lilac, now is the time to prune without risking blooms.

10. Give it one last mow

Set your mower to a low setting and give the lawn a close buzz before winter sets in. This helps the soil dry out more quickly in the spring, which leads to a lusher lawn.

11. Divide and cut back perennials

If your perennials really took off this year, go ahead and spread the love. Divide plants and add them to other beds where they will also do well. This saves money and time in the spring.

12. Protect cold-sensitive plants

Keep sensitive perennials, shrubs, and roses in top shape through the cold days of winter. Add mulch to the base and wrap plants in cloth barriers to prevent damage from freezing. Depending on the hardiness of the plant, you can use a single sheet or blanket or wrap them in a combination of cloth and plastic.

13. Plant bulbs, shrubs, and fall annuals

Some plants do best when planted in the fall. If you want to add new shrubs or spring bulbs, now is the time to get them in the ground. Fall annuals like pansies are also a great addition to keep some color in your yard as other plants go to sleep.

14. Protect the deck

Prevent the growth of mold and mildew by giving the deck a good power wash. Once the deck is clean and dry, add a weatherproofing stain to protect the wood from moisture damage over the winter.

15. Clean tools and store them

Don’t throw your gardening tools in the shed and forget about them until spring. Take time to give them a good cleaning and add a light coat of oil to prevent rust during the cold season.

 

When the warm weather returns, your garden will be ready to wow you with lush, green bounty if you follow this checklist.

Sept. 7, 2022

August 2022 Market Stats

 

Single Family: Buyer's Market

Sales are down to 42 in August from 45 in July

Currently in a buyer's market with 8.8 months of inventory 

Average days on market is up to 75 from 53 DOM in July 

Inventory YTD is up 23% from this time last year

Number of Sales YTD is down 3% from this time last year

AVG price $520,239 is slightly lower from July at $552,781

 

Condo Apartment: Seller's Market

It’s starting to change over to a soft seller's market with 3.12 months of inventory 

Number of Sales: 17 in August with 18 in July

Number of Sales is up 9% YTD over 2021

Average Price has increased to $125,000 over $119,500 in July

 

Townhomes: Buyer's Market 

Inventory is about the same 51 & 53

Buyer's market currently sits at 5.1 months of inventory which is down from July at 8.83 months

Days on Market has increased to 46 from 34 in July 

Average Sale Price is $ 268,340 which has increased from July's $217,817

Inventory Numbers have increased 32 % from YTD August 2021 to 2022

YTD sales numbers are up 5% over 2021

 

Mobile Homes with Land: Just into a buyer's market

Inventory has increased from 3.4 to 6.13 months 

Average Sales Price decreased slightly $ 249,000 in August to $273,000 in July

YTD sales numbers up 31% over 2021

Inventory 62 from 65

Days on Market in August has increased slightly to 60 from 54 in July

 

Duplex: Buyer's Market

Buyer's market with 8.4 months of inventory

An increase in Days on Market to 89 in August from 59 in July

Average Sale price  decreased to $306,000 from $358,800

Sales numbers have increased 42% over last year.

 

OVERALL Market: (All inventory: Single Family, Condo Apt, Townhome, Mobile, Duplex)

It is currently a buyers market with 6.93 months of inventory up from 6.31 in July

We have seen an increase in Days on Market in August where we sit at 66 from 49 in July

Average Sales Price has decreased to $365,252 from $383,717 in August

YTD Inventory has increased 11% over last year

Sales numbers surpassed last year by 4% 

 

_________________
Krystal Jessome
Coldwell Banker Fort McMurray
📱587-919-7499
📧krystaljessome@gmail.com
💻www.KrystalJessome.ca

Posted in Market Updates
Sept. 7, 2022

July 2022 Market Stats

 

Single Family: Buyer's Market

Sales are down to 45 in July from 72 sales in June

Currently in a buyer's market with 7.89 months of inventory 

Average days on market is up to 75 from 33 days on market in June 

Inventory YTD is up 31.55% from this time last year

Number of Sales YTD has increased by 2.29% from this time last year

Average sale price is $546,021 which is 4.7% higher than 2021

 

Condo Apartment: Seller's Market

Seller's market with 2.89 months of inventory 

Number of Sales: 18 in July, 23 in June

Number of Sales is up 6.41% YTD over 2021

Average Price has increased to $133,941, a 17% increase from 2021

 

Townhomes: Buyer's Market 

Inventory rose from 41 to 52

Buyer's market currently sits at 8.67 months of inventory which is up from June at 2.93 months of inventory

Days on Market has increased to 26 from 23 in June

Average Sale Price is $222,542 

Inventory Numbers have decreased by 5.88%

YTD sales numbers are up 30.77% over 2021

 

Mobile Homes with Land: Balanced Market

Continues to be a balanced market with 4.4 months of inventory

Average Sales Price decreased by 10% to $253,461

YTD sales numbers up 26% over 2021

Inventory has stayed relatively the same with 67 in June and 66 in July

Days on Market in July has increased slightly to 56 from 30 in June

 

Duplex: Buyer's Market

Buyer's market with 6.4 months of inventory

An increase in Days on Market to 59 in July from 41 in June

Average Sale price decreased by 0.5% to $390,715

Year to date inventory is up 44% over last year

Sales numbers have increased by 25% over last year.

 

OVERALL Market: (All inventory: Single Family, Condo Apt, Townhome, Mobile, Duplex)

Sitting at 6.32 months of inventory overall

Days on Market increased from June at 36 to 59 in July

Average YTD sales price has increased by 1.2% to $399,083

32 listings in total, up from 29 in June

YTD Inventory is up 25.57% over last year

Sales numbers are up 6.31% over last year

Posted in Market Updates
July 25, 2022

Are you considering buying a Condo?

𝗔𝗥𝗘 𝗬𝗢𝗨 𝗖𝗢𝗡𝗦𝗜𝗗𝗘𝗥𝗜𝗡𝗚 𝗕𝗨𝗬𝗜𝗡𝗚 𝗔 𝗖𝗢𝗡𝗗𝗢?

 

What does “Condominium” mean?

“The system of ownership by which condominiums operate, in which owners have full title to the individual apartment or house and an undivided interest in the shared parts of the property.”

 

🌆 Buying a condo can be a great option for many. Living in a complex where the exterior is maintained for you can give you the ease of being able to lock the doors and know that you don’t need to hire landscaping/snow removal etc. Paying condo fees to a corporation also gives you the peace of mind that if the roof/windows/siding etc needs replacing or repair, the cost will come from the reserve fund that you have been paying into rather than footing the cost on your own. Of course there can be situations where the corporation may not have the funds necessary, however by doing our due diligence before the purchase we can try to avoid these scenarios.

 

Purchasing a condo is quite different than buying a single family home. Before purchasing ensure you have considered the following items:

🔹Home Inspections

🔹Condo Document Inspections

🔹How much are the condo fees?

🔹Are there any utilities included in the condo fees?

🔹What is the pet policy?

🔹Is parking and/or storage assigned or titled? Underground or above ground?

🔹Is the complex owned as bareland or conventional?

🔹Who is the management company?

🔹Will the bylaws affect how you plan on living in the unit?

🔹Will visitor parking be an issue?

🔹Are there any on-site amenities?

 

If you have any questions about buying or selling condos, please reach out!

_________________
Krystal Jessome
Coldwell Banker Fort McMurray
📱587-919-7499
📧krystaljessome@gmail.com
💻www.KrystalJessome.ca

Posted in Market Updates
July 7, 2022

June 2022 Market Stats

 

We are now in a balanced market.  The overall inventory has gone up 38% since April to June with sales staying about the same.  Single family inventory is over 300 and it hasn't been that high since November 2019.

 

Single family

72 sales in June, 78 in May 

Balanced market 4.65 months of inventory

33 DOM down from 54 in May '22

Inventory YTD up 23% to this time last year

Sales YTD up 7.8 to this time last year

YTD AVG price $553,145 up 6%

 

Condo Apt

Condo market back to seller's market with 2.52 months of inventory

Sales 23, up from  16 in May  '22 and the exact same June '21

Inventory down 9.62% YTD over 2021

Sales up 4.35% YTD over 2021

AVG Price up 18% YTD $135,581

 

Townhomes

Inventory rose again from 38 to 41

It's a soft seller's market with 2.93 months of inventory

DOM went down to 23 from 30

AVG $ $223,402 YTD up 16% over 2021

Inventory down 5%

YTD sales are up 12.66% over 2021

 

Mobile Homes with Land

Big change here to a balanced market 5.5 months of inventory

May AVG sale price $310,180 

YTD sales up 37%

Inventory up 9%

DOM 30 down from May

 

Duplex for sales north of the bridge (there isn't a lot activity in the rest of the city)

Also a balanced market with 5 months of inventory

36 DOM

AVG YTD price $394,985

32 listings

Inventory is up 40% over last year

Sales are up 7% over last year.

Posted in Market Updates
July 7, 2022

May 2022 Market Stats

The overall market has increased in inventory by over 100 properties April 2022 to May 2022.  It's still a soft seller’s market with 3.73 months of inventory.  

 

Single family

78 sales in May, 95 in April 

soft seller’s market 3.73 months of inventory

54 DOM up from 47 in April '22

Inventory YTD up 11% to this time last year

sales YTD up 14.78% to this time last year

YTD AVG price $553,831 up 6.1%

 

Condo Apt

Condo market slowed down from last month’s hot seller’s market with 1.93 months of inventory to a balanced market of 4.38 months of inventory

Sales 16, down from 27 in April  '21

Inventory down 9.6% YTD over 2021

Sales up 20% YTD over 2021

AVG Price up 15% YTD $131,319

 

Townhomes

Last month there were only 14 townhomes for sale, now there are 36

The hot seller’s market has turned into a buyer's market with 6.3 months of inventory in May 2022

DOM 30

AVG $ $226,354 YTD up 17% over 2021

Inventory down 5%

YTD sales are up 9% over 2021

 

Mobile Homes with Land

Soft seller’s market with 3.15 months of inventory 

May AVG sale price $266,076 

YTD sales up 37%

Inventory up 16%

DOM 79 up from April 

 

Duplex for sales north of the bridge (there isn't a lot activity in the rest of the city)

Hottest market category with 1.5 months of inventory

37 DOM

AVG YTD price $401,249

29 listings

Inventory is up 60% over last year

Sales are up 7% over last year

Posted in Market Updates
July 7, 2022

April 2022 Market Stats

 

Single family

95 Sales

The most sales since June 2015

Sellers Market

47 DOM down from 58 in March '22

Inventory YTD down 5% to this time last year

sales YTD up 13.6 to this time last year

YTD AVG price $548,696 up 5%

 

Condo Apt

HOT seller’s market with 1.93 months of inventory

Sales 27,  26 in April  '21

Inventory down 9.6% YTD over 2021

Sales up 7% YTD over 2021

AVG Price up 12% YTD $126, 780

 

Townhomes

Only 14 for sale in the whole city

HOT seller’s market 1.17 months of inventory

DOM 35

AVG $ $228,800 YTD up 16% over 2021

Inventory down 200% (not a typo)

YTD sales are up 20% over 2021

 

Mobile Homes with Land

Soft seller’s market with 3.44 months of inventory 

April AVG sale price $231,247  is close to YTD average $236,861

YTD sales up 18%

Inventory up 36%

DOM 40 down from March 

 

Duplex for sales north of the bridge (there isn't a lot activity in the rest of the city)

Balanced market

40 DOM

AVG price $393,468

27 listings

Inventory is up 60% over last year

Sales are up 61% over last year.

Posted in Market Updates
April 8, 2022

March 2022 Market Stats

 

𝗠𝗔𝗥𝗖𝗛 𝟮𝟬𝟮𝟮 𝗦𝗧𝗔𝗧𝗦

150 Homes SOLD in March
86 Homes pending going into April
26 Sold either at list price or over
18 Firm sales within the first two weeks of being listed
440 Active Listings
202  New Listings
Average List Price to Sales Price ratio: 97.5% 
Average Days on Market: 67

*Based on Fort McMurray, Anzac, Gregoire Lake Estates & Saprea Creek

𝗦𝗜𝗡𝗚𝗟𝗘 𝗙𝗔𝗠𝗜𝗟𝗬
85 sales!   There hasn't been this many sales in one month since July 2014! 
Inventory is down 4%
Sales YTD are up 12%
Average price is up 4% to $545,183
It's a soft seller's market with 2.95 months of inventory.

𝗖𝗢𝗡𝗗𝗢 𝗔𝗣𝗔𝗥𝗧𝗠𝗘𝗡𝗧
Sales YTD are up 8%
Inventory is down 41%
AVG price is up 10%
YTD DOM down 64% to 36
1.99 months of inventory

𝗧𝗢𝗪𝗡𝗛𝗢𝗠𝗘𝗦
Sales YTD are up 30%
Inventory down 166%
Average sale price YTD is up 15%
It is a HOT seller's market with 1.45 months of inventory.
There are only 15 townhomes for sale in the city.

𝗠𝗢𝗕𝗜𝗟𝗘 𝗛𝗢𝗠𝗘𝗦 𝗪𝗜𝗧𝗛 𝗟𝗔𝗡𝗗
Sales YTD are up 40%
Inventory is up 28%
Average YTD Sale price is down 17%
It's a balanced market with 4 months of inventory.

𝗗𝗨𝗣𝗟𝗘𝗫𝗘𝗦
Sales are up 63% YTD
Inventory is up 22%
Average YTD price is up 4%
It's a soft seller's market with 3.21 months of inventory.

If you have any questions, give me a call.

_________________
Krystal Jessome
Coldwell Banker Fort McMurray
📱587-919-7499
📧krystaljessome@gmail.com
💻www.KrystalJessome.ca

Posted in Market Updates
April 7, 2022

Do you have a Sump Pump?

 

𝗗𝗼 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮 𝗦𝗨𝗠𝗣 𝗣𝗨𝗠𝗣?

If you have a sump pump, ensure that it is in proper working condition. The weather is warming up and the snow is melting fast. Your sump pump will ensure that this water is pumped away from the foundation of your home.

 

A secondary pump installed next to the first is also a good idea in the event that the first fails. For the added piece of mind, this back up pump can also be battery operated so in the off chance that the power goes out it will still operate.

 

The options to protect your home from water damage are endless. Water sensors are also available at local hardware stores for a reasonable price that can alert you if water is detected where it shouldn't be. These can be connected to your wifi so you are able to receive these alerts even if you are not home. 

_________________

Krystal Jessome

Coldwell Banker Fort McMurray

D: 587-919-7499

E: krystaljessome@gmail.com

March 18, 2022

Prepare for Spring Thaw

𝗣𝗥𝗘𝗣𝗔𝗥𝗘 𝗙𝗢𝗥 𝗦𝗣𝗥𝗜𝗡𝗚 𝗧𝗛𝗔𝗪

The temperatures are on the rise and the snow is finally melting! Take this weekend to prepare your house for spring thaw to prevent future damages. 

𝟭. 𝗖𝗹𝗲𝗮𝗿 𝗜𝗰𝗲 𝗮𝗻𝗱 𝗦𝗻𝗼𝘄 𝗔𝘄𝗮𝘆 𝗳𝗿𝗼𝗺 𝗬𝗼𝘂𝗿 𝗛𝗼𝘂𝘀𝗲. If you have snow packed against the side of your house or covering drains, clear this away to reduce the amount of water sitting around your foundation.
𝟮. 𝗖𝗹𝗲𝗮𝗿 𝗚𝘂𝘁𝘁𝗲𝗿𝘀 𝗮𝗻𝗱 𝗗𝗼𝘄𝗻𝘀𝗽𝗼𝘂𝘁𝘀. Ice and snow can build up in your gutters through the winter. Your downspouts should be down and clear of debris in order to function properly in keeping water away from the house. 
𝟯. 𝗟𝗼𝗼𝗸 𝗳𝗼𝗿 𝗰𝗿𝗮𝗰𝗸𝘀 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗳𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻. We have extreme temperature changes which cause movement in the ground. This can cause foundation cracks but if found early can be fixed before a larger issue occurs. Take a walk around your property and if cracks are found, consider getting them repaired. 
𝟰. 𝗘𝗻𝘀𝘂𝗿𝗲 𝗬𝗼𝘂𝗿 𝗦𝘂𝗺𝗽 𝗣𝘂𝗺𝗽 𝗶𝘀 𝗪𝗼𝗿𝗸𝗶𝗻𝗴.This is your first line of defense against a flood basement and expensive water damage. If you have a sump pump ensure it is working properly and consider getting a backup monitor incase of failure. 
𝟱. 𝗖𝗵𝗲𝗰𝗸 𝗬𝗼𝘂𝗿 𝗔𝘁𝘁𝗶𝗰 𝗮𝗻𝗱 𝗖𝗲𝗶𝗹𝗶𝗻𝗴𝘀. Snow builds up on roofs over the course of a winter, and while structurally they can handle it, the spring thaw brings with it the risk of a leak. You should always keep an eye on your attic and the ceiling of your top floor, as a small leak can quickly become a huge problem.
_________________
Krystal Jessome
Coldwell Banker Fort McMurray
D: 587-919-7499
E: krystaljessome@gmail.com