The prices in real estate in Fort Mcmurray, in the Alberta region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Fort Mcmurray has increased strongly during the last 6 months. In February, the average price per sq.feet was $277. In the following month the price per sq.feet increased to $303. In the following two months the price per sq.feet has increased 111 %, going from $290 to $323 per sq.feet. The price per sq.feet has increased 107 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $306.5 to $328.5 during June, and July.
Based upon to the price in Fort Mcmurray (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during February, is $352,063. During March the price went through a considerable rise reaching $427,353. During the following two months (April, May) the average price had a considerable increase of 118 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 116 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $502,999 they are 82 % more affordable than the average price for Fort Mcmurray. The properties with the highest average price have 4 bedrooms, Their price is 6 % more costly than the average. After that we have properties with 3 bedrooms priced at $383,312.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $162 / sq.feet, with an average $332 / sq.feet price in Fort Mcmurray. The properties with the highest average prices have 4 bedrooms. They are 14 % more expensive than the average followed by properties with 3 bedrooms with a price at $289 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $502,999 it is 59 % cheaper than the average price in Fort Mcmurray. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of $566,507 it is 302 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $201 / sq.feet followed by "Townhouse" priced at $281 / sq.feet. "Land" is the most costly type of property with a $593,598 / sq.feet cost followed by "Office" with an average price of $57,595 / sq.feet.