Sales in August increased 4% year over year, resulting in an increased year-to-date sales growth of 4%. This growth was largely driven by gains in apartments and semi detached units. August saw a 2% increase in new listings, which led to slightly higher inventory levels year over year. With 532 units in inventory and 178 sales, the supply for July increased to 5.1 months compared wot 4.5 months in June.

Year -to-date average prices are flat compared to the previous year. Prices have increased for detached properties year to date. However, prices have decreased for semi-detached homes.

The end of August 2024 marks my eighth year as a REALTOR® in Fort McMurray.  Today, I find myself reflecting on a journey that has been both challenging and deeply rewarding. From the moment I began my career in real estate with Coldwell Banker United, I was determined to immerse myself in every neighbourhood, quite literally driving through the streets, learning their names and the unique characteristics of the homes in each area. It wasn’t just about understanding the market; it was about becoming a part of the community.

If I could go back and have a conversation with my past self—the one who was just starting out in August 2016—I would tell them how much they would grow, how many incredible people they would meet, and how deeply fulfilling it would be to help so many families buy and/or sell their homes. The Fort McMurray market has been anything but easy. Over the past eight years, we’ve faced many challenges. Each challenge tested our resilience, but it also strengthened our bond as a community.

Through it all, I’ve remained committed to this incredible city as a full-time, dedicated real estate agent with Coldwell Banker United. I’m immensely proud of the career I’ve built here, but even more so, I’m proud of the trust and relationships I’ve cultivated with my clients, colleagues, work-fam and other industry professionals. This network is truly something special and I am grateful for you all!

As I look ahead, my goal is to continue sharing the knowledge and experience, and continued education I’ve gained, helping you navigate your real estate journey with confidence. Whether you’re buying your first home, selling a property, or investing in real estate, know that you can rely on my transparent and honest, no B.S approach to guide you every step of the way. Fort McMurray isn’t just where I work—it’s my home, and it’s a privilege to be a part of your real estate story.

Here’s to many more years of growth, connection, and success in this incredible community we all call home!  #weloveymm<3

Sales in June increased 17 percent year over year, resulting in a year-to-date sales growth of 12 percent. This growth was largely driven by gains in detached and row-style units. June saw a 1 percent decline in new listings, which led to lower inventory levels year over year. With 516 units in inventory and 124 sales, the supply for June decreased to 4.2 months, compared to 4.4 months in May.

Despite minor monthly variations, year-to-date average prices are up 2 percent compared to the previous year. Prices have increased 1 percent for detached properties and 11 percent for apartments year to date. However, prices have decreased for semi-detached and row-style homes.

One of my favourite pieces of advice to pass along to Fort McMurray residents is to take advantage of summer photos! Even if you’re not planning to list your home for sale right now, summer is an excellent opportunity to enhance your property and get it ready for the market. Taking advantage of the warm weather and vibrant surroundings can yield significant benefits. Here are a few reasons why you should make the most of the summer season:

1. Capturing Stunning Exterior Photos

Summer provides the perfect backdrop for beautiful exterior photos. Your home looks its best this time of year, and we know our long winters make us look forward to brighter, warmer days! Even if you aren’t ready to commit to hiring a professional photographer to snap exterior shots, consider taking good quality photos on your phone and save them to an album for later use. Lush green lawns, blooming flowers, and clear blue skies can make your home look its best. High-quality photos taken during this time can be an invaluable asset when you decide to sell. These images showcase your property in the best possible light, attracting potential buyers who can see the full potential of your home. Let me know if you want a copy of my Professional Photography Top Tips Checklist!

2. Making Exterior Repairs

Consider a pre-listing home inspection! This can help you gauge what deficiencies may need to be rectified prior to listing. Whether it’s re-shingling , repainting the exterior, cleaning your dryer vents, or making sure your grading is sufficient, now is the time to address these issues. On a budget? Focus on cleaning and tidying – pressure wash siding and driveways, wash windows, paint any rusted light fixtures. Tackling these repairs now not only enhances your home’s curb appeal but also ensures that it’s in top condition when you decide to sell. If you are looking for Property Inspector recommendations, let me know!

3. Maintaining Your Garden and Lawn

A well-maintained garden and lawn are key to creating a positive first impression. Regular watering, mowing, and weeding can keep your outdoor space looking pristine. Consider this your exterior staging, making your yard look fantastic for any potential buyer. First impressions matter, and buyers are savvy. Additionally, planting seasonal flowers and adding mulch can give your garden a fresh and inviting look. A beautifully maintained yard not only adds to your home’s appeal but also demonstrates that you’ve taken good care of the property.

4. Planning Ahead for Winter

Due to our long winters in Fort McMurray, summer photos can be especially valuable. Potential buyers may have difficulty visualizing the property’s full potential during the colder months. By capturing your home’s exterior in its summer glory, you can provide a clear picture of what the property looks like year-round. This foresight can make a significant difference in attracting buyers and securing a sale. As a real estate professional, I learn all of the features of your property to share with potential buyers. However you know all of the special moments with your home like, how you love coffee on your deck because the sun hits it just right, or how your peony bushes grow so well in the south facing garden in the months of June & July. Taking a moment to document the memorable times in the summer can really help a potential buyer see why your home may be perfect for them!

Conclusion

While you may not be ready to list your home right now, taking advantage of the summer season can set you up for success in the future. Stunning exterior photos, timely repairs, and regular maintenance all contribute to showcasing your home in the best possible light. By preparing your property now, you’ll be ready to hit the market with confidence when the time comes. Summer is not just a season for relaxation; it’s also an opportunity to invest in your home’s future sale. Happy summer home improvement! 🌞🏡

If you need professional advice on how to best prepare your home for sale, lets chat! I have tons of resources to help guide you in the right direction! I am always happy to help and pass my knowledge and expertise on to you!

Kate Arnold

While summer is typically a slower season for real estate in Fort McMurray, recent trends have shown a consistent demand for homes during these months. In both 2022 and 2023, the market saw an average of 102 units sold each month during June, July, and August. This indicates that buyers are indeed out there, ready to make a move. As a seller, understanding the market dynamics and buyer preferences can help you achieve a successful sale. Here’s what you need to know.

Understanding Buyer Preferences

Buyers in the current Fort McMurray market generally fall into two categories:

1. Move-In Ready Enthusiasts: These buyers are searching for homes that are in pristine condition, requiring little to no additional work. They desire properties that are well-maintained, updated, and stylish (this last point seems to be huge!).  If your home falls into this category, chat with your agent about how to ensure your home stands out as a picture-perfect, move-in ready option.

2. Deal Seekers: This group is on the lookout for homes that may need some work but are priced competitively. They see potential in fixer-uppers and are willing to invest time and money into renovations. If your property needs a bit of TLC, make sure it’s priced right to attract these buyers.

Market Conditions: A Favourable Climate for Sellers

This summer presents a unique opportunity for sellers in Fort McMurray. Here’s why:

• Interest Rates Have Lowered: For the first time in four years, interest rates have decreased, making it more attractive for buyers to secure financing. This is stimulating buyer confidence!

• Relocations: Fort McMurray has always been transient.  With an influx of people moving to Alberta, our local population is also anticipated to increase.

• Homes Look Their Best in Summer: The vibrant summer months make properties appear more appealing. Lush green lawns, blooming gardens, and sunny skies create a positive first impression, making it the ideal time to showcase your home’s exterior and landscaping.

Conclusion

Selling your home in Fort McMurray’s typically slower summer market can be highly successful with the right approach. By understanding what buyers are looking for and leveraging the favourable conditions this summer, you can make your property stand out. Remember, price and presentation are the cornerstones of a successful sale. Whether you’re offering a move-in ready gem or a fixer-upper with potential, there’s a buyer out there waiting to make your home their own. Embrace the summer market, and take the necessary steps to ensure a smooth and rewarding selling experience.

Written by Kate Arnold