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Share this Story: The typical house in Fort Mc, Murray has lost $117,000 or 20% of its in worth in one year Breadcrumb Path Hyperlinks The typical house in the heart of the oilsands has actually lost $117,000 or 20% of its value in just one year as the collapse of oil prices hit property markets across Alberta Author of the article: Postmedia News Publishing date: Nov 23, 2015 November 23, 2015 3 minute read Postmedia News Article material The slumping oilpatch in Alberta continues to take its toll on the Fort Mc, Murray real estate market, as the average MLS sale price of a home in that northern neighborhood plunged by more than $117,000 in October.

Article content Data obtained from the Canadian Genuine Estate Association indicates that the average sale rate for the month of $468,199 was down 20 per cent from $585,438 in October 2014. Sales likewise plunged by 41 per cent to 85 from 144 a year back.  Reference -to-date, MLS sales in Fort Mc, Murray are down by 44.

The oilpatch recession is being felt in property markets throughout the province. In October, Lloydminster saw MLS sales dip by 54. 3 percent, being up to 43 transactions from 94 in 2015 while the Alberta West area experienced a decline of 52. 7 percent, dropping to 70 from 148 a year earlier.

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Short article material Year-to-date MLS sales in Alberta are down 21. 1 percent from in 2015. Besides Fort Mc, Murray, the CREA stats show the hardest hit areas in the province are Lloydminster (down 34. 1 per cent); South Central Alberta (down 31. 6 per cent) and Calgary, (down 28.

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Calgary's resale housing market led the country in October in a negative method. MLS sales in the Calgary area were 1,810 for the month, down 36. 4 per cent from a year ago. The rate of decline was the highest among Canada's significant housing markets, according to a report by the Canadian Realty Association.

9 per cent to 4,327 transactions. Across the country, nevertheless, MLS sales were up 0. 1 percent to 41,653. CREA said nationwide activity stood near the peak recorded previously this year and reached the second greatest month-to-month level in practically six years. Advertisement This ad has actually not loaded yet, however your post continues listed below.