Fort McMurray leads Alberta detached-home price surge
Detached house prices jumped 14.7% year-over-year in Fort McMurray, while Edmonton saw a 5.7% rise to $589,610.
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Fort McMurray is outpacing every other Alberta city in detached home price growth, with a 14.7 percent year-over-year jump to an average of $532,614, according to Alberta Real Estate Association data released Saturday.
Lethbridge and Medicine Hat followed, with 7.9 and 7.7 percent increases respectively. Edmonton's detached house prices rose 5.7 percent to $589,610, while Grande Prairie saw the smallest gain at 5.5 percent.
Calgary, the province's largest city, was the only major centre to see a decline — down 2.1 percent to $715,000. Red Deer fell 0.7 percent to $470,987.
Across all of Alberta, May saw a 12.2 percent year-over-year drop in sales, the 13th consecutive month of decline. New listings fell 3.8 percent. Edmonton's months of inventory increased 36 percent, indicating a loosening market, while Grande Prairie remains the tightest in the province at 1.4 months of supply.