Skip to Main content

22.81°^C Vancouver

News Entertainment Videos Shows Podcast Contact Us

Nov 8, 2023 9:07 PM - The Canadian Press

Real estate prices continue to decline in Fort McMurray

Share On

real-estate-prices-continue-to-decline-in-fort-mcmurray

The price of a single-family home that once exceeded $700,000 a decade ago has dropped to $467,848. (Photo: The Canadian Press)

Real estate prices in Fort McMurray continue to decline.

The state's housing market was once very active, but now it is facing a major drop in prices.

In the early 2010s, when a single-family home in the northern community was worth more than $700,000, prices have dropped by hundreds of thousands of dollars due to the oil boom, according to Melanie Gelea, a Fort McMurray real estate agent.

The overall median home price in Fort McMurray dropped nearly 16 percent compared to October 2022, from around $336,000 in October 2022 to around $282,000 in October this year.

The price of a single-family home that once exceeded $700,000 a decade ago has dropped to $467,848.

Gelea says these market conditions are not new to her as a real estate agent as she saw similar conditions in 2015 before the 2016 wildfires.

Latest news

alberta-ndp-leader-nenshi-wins-seat-in-one-of-three-byelections

AlbertaJun 24, 2025

Alberta NDP Leader Nenshi wins seat in one of three byelections

Alberta NDP Leader Naheed Nenshi has held Edmonton-Strathcona for the New Democrats in one of three provincial byelections. Unofficial results from Elections Alberta put him well ahead of the nearest competitor, United Conservative Party candidate Darby Crouch. The NDP was also leading in Edmonton-Ellerslie where the party's candidate, Gurtej Singh Brar was ahead of United Conservative Party candidate Naresh Bhardwaj by over 500 votes with 46 of 55 polls reporting. The United Conservatives' Tara Sawyer won Olds-Didsbury-Three Hills, where the third byelection was being held. S

canadas-3x3-women-begin-the-world-cup-with-back-to-back-wins

CanadaJun 23, 2025

Canada's 3x3 Women begin the World Cup with back-to-back wins

Canada's 3x3 Women's National Basketball Team has made a strong start to the FIBA 3x3 World Cup 2025. The Canadian team won both of its first matches today. The Canadian team defeated Latvia 17-10 in their first match. In the second match, Canada faced Austria. Canada won the match by a margin of 20-15. Saicha Grant Allen’s performance for Canada today was tremendous, as she yielded a total of 15 points today for Canada. Now the Canadian team will face France and Hungary on Wednesday.

judge-refuses-to-allow-more-avian-flu-tests-on-ostriches-at-b-c-farm

Judge refuses to allow more avian flu tests on ostriches at B.C. farm

The Federal Court of Appeal is refusing to allow the owners of a British Columbia ostrich farm to conduct further testing of their flock for avian flu in a bid to avert a cull ordered by the Canadian Food Inspection Agency. The same ruling that was issued on Friday but only published online on Monday grants a temporary stay of the cull until a ruling on an appeal that will be held no later than the week of July 21. It says Universal Ostrich Farms has satisfied all three tests required for a temporary stay on the cull of about 400 birds at the farm in Edgewood, B.C., that has become the focus o

police-warn-about-elaborate-bank-scam

BC: Police warn about elaborate bank scam

A bank fraud case has been reported in British Columbia, where a 68-year-old woman from Mission lost $60,000. The RCMP said the woman reported the money to police on May 28 after losing the money to the scam. Investigators said the woman received a call from a person who claimed to be from the bank, saying that her bank card had been compromised and that new cards were being issued. According to police, a rideshare driver was sent to her home to collect the card and the woman handed it over. An hour later, the scammer called back to say that all of her bank accounts had been compromised and

nanaimo-rcmp-is-investigating-an-assault-at-a-local-mall

Nanaimo RCMP is investigating an assault at a local mall

On June 16, 2025, at approximately 7:30 pm, police responded to a report of an assault at North Town Center Mall, 4750 Rutherford Road in Nanaimo.A woman’s dog, which was off-leash, ran aggressively at a male and his leashed dog. The male stepped in to prevent his dog from getting hurt and kicked the woman’s dog. The woman tried to intervene, and the male pushed her to the ground. The woman got up, facing the male and he struck her head with his head, causing her to crumple to the ground. Witnesses reported that the suspect then ran away, looking for his dog.The witnesses stayed on the sc

Related News

Alberta NDP Leader Nenshi wins seat in one of three byelections

Alberta NDP Leader Nenshi wins seat in one of three byelections

Alberta NDP Leader Naheed Nenshi has held Edmonton-Strathcona for the New Democrats in one of three provincial byelections. Unofficial results from Elections Alberta put him well ahead of the nearest competitor, United Conservative Party candidate Darby Crouch. The NDP was also leading in Edmonton-Ellerslie where the party's candidate, Gurtej Singh Brar was ahead of United Conservative Party candidate Naresh Bhardwaj by over 500 votes with 46 of 55 polls reporting. The United Conservatives' Tara Sawyer won Olds-Didsbury-Three Hills, where the third byelection was being held. S

Alberta surpasses 1,000 total cases of measles after reporting 24 new infections

Alberta surpasses 1,000 total cases of measles after reporting 24 new infections

Alberta has surpassed a thousand cases of measles, making it the second province in Canada after Ontario to do so within this year. Data from the provincial government's dashboard shows 24 more cases were confirmed as of Friday, bringing Alberta's total to 1,020. Officials say most cases have been found in children between the ages of five and 17. Alberta is grappling with a spike in measles cases not seen for almost 40 years and is falling short of the 95 per cent immunization rate experts say is needed to protect the population. Alberta Medical Association president Dr. She

Alberta voters to decide today if NDP's Nenshi, separatists to hold legislature seats

Alberta voters to decide today if NDP's Nenshi, separatists to hold legislature seats

Alberta NDP leader Naheed Nenshi is looking to finally win a seat in the legislature after a year of sitting on the sidelines. He's running in one of three provincial byelections today as a candidate in Edmonton-Strathcona, where his predecessor Rachel Notley last won 80 per cent of the vote. In Edmonton-Ellerslie, NDP candidate Gurtej Singh Brar could solidify the opposition party's hold on the city, but United Conservative Party candidate Naresh Bhardwaj is hoping to make an inroad. In rural central Alberta, the separatist Republican Party of Alberta is aiming to capitalize on

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

BC Children's Hospital