Skip to Main content

25.32°^C Vancouver

News Entertainment Sports 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

mission-rcmp-seize-firearms-issue-tickets-during-crackdown-on-illegal-shooting-along-forest-service-road

Mission RCMP seize firearms, issue tickets during crackdown on illegal shooting along forest service road

Mission RCMP say officers seized multiple firearms and issued several violation tickets during an enforcement operation targeting illegal recreational shooting along the Lost Creek Forest Service Road area over the June 13–14 weekend. According to a Mission RCMP release, officers responded to a report on June 13 of people shooting near the 7.5-kilometre marker of the forest service road. Police located five men from Abbotsford and seized five firearms from two 21-year-old gun owners. The pair later received $690 violation tickets for discharging firearms in a designated no-shooting area. RCM

Suspect Arrested in Langford Sexual Assault Investigation Involving Youth

West Shore RCMP say a 33-year-old man has been arrested in connection with a sexual assault investigation involving a youth in Langford. According to an RCMP release, the incident was reported to have occurred on June 9 at about 3 p.m. near the intersection of Jacklin Road and Station Avenue. Police said a female youth was approached by an unknown adult male at a bus stop, where a brief conversation took place before the youth was allegedly sexually assaulted. West Shore RCMP issued a public appeal for assistance on June 12 as investigators worked to identify the suspect. Police said officers

CanadaJun 18, 2026

IRCC pauses final processing of some citizenship cases approved under Bill C-3

Immigration, Refugees and Citizenship Canada (IRCC) has temporarily paused the final processing of some citizenship cases approved under Bill C-3, commonly known as the "Lost Canadians" legislation. According to IRCC, several dozen individuals have received notices asking them to surrender citizenship certificates that had already been issued while the department reviews their files. The department says the affected cases are undergoing additional document verification. In a statement, IRCC said individuals who have already received citizenship certificates and moved to Canada may continue to

b-c-launches-hydroelectric-upgrades-aimed-at-boosting-power-supply-by-7

B.C. launches hydroelectric upgrades aimed at boosting power supply by 7%

The British Columbia government has announced a series of upgrades to its hydroelectric system that it says will increase the province's electricity supply by about seven per cent. Energy Minister Adrian Dix said the largest project will involve adding a sixth generating unit at the Revelstoke Dam, increasing capacity by approximately 500 megawatts by 2032. According to the provincial announcement, the first four generating units at the Revelstoke generating station will also undergo modernization work. The government said upgrades are also planned at six other generating stations and at the W

smith-says-timing-may-prevent-coal-mining-referendum-question-from-appearing-on-october-ballot

AlbertaJun 18, 2026

Smith says timing may prevent coal mining referendum question from appearing on October ballot

Alberta Premier Danielle Smith says it may be too late for a citizen-led petition seeking a ban on new coal mining projects to be included in the province's Oct. 19 referendum vote. Earlier this month, Alberta musician Corb Lund submitted what he said were more than 200,000 signatures in support of a petition that would require the Alberta government to consider legislation banning new coal mining or submit the matter to a provincewide referendum if the signatures are verified. According to Alberta's citizen initiative rules, a successful petition can compel the government to either introduce

Related News

Smith says timing may prevent coal mining referendum question from appearing on October ballot

Smith says timing may prevent coal mining referendum question from appearing on October ballot

Alberta Premier Danielle Smith says it may be too late for a citizen-led petition seeking a ban on new coal mining projects to be included in the province's Oct. 19 referendum vote. Earlier this month, Alberta musician Corb Lund submitted what he said were more than 200,000 signatures in support of a petition that would require the Alberta government to consider legislation banning new coal mining or submit the matter to a provincewide referendum if the signatures are verified. According to Alberta's citizen initiative rules, a successful petition can compel the government to either introduce

Alberta to Provide $100 Energy Rebate to Eligible Adults Instead of Fuel Tax Relief

Alberta to Provide $100 Energy Rebate to Eligible Adults Instead of Fuel Tax Relief

The Alberta government has announced that it will replace fuel tax relief on gasoline and diesel with direct cash payments under a new Alberta Energy Rebate program. According to the government, the program will begin on July 1, 2026. Adults in households with annual incomes below $225,000 will receive a $100 rebate payment. Premier Danielle Smith said the province opted for direct payments after a previous fuel tax suspension did not fully translate into savings at the pump for consumers. Smith said the government is returning a portion of increased revenues generated by higher oil prices dir

11-year-old boy dies after incident during school field trip in Medicine Hat

11-year-old boy dies after incident during school field trip in Medicine Hat

An 11-year-old boy has died after a suspected drowning during a school field trip at Echo Dale Regional Park in Medicine Hat, according to Alberta RCMP. Police said officers responded Monday afternoon after receiving a report that a child had gone missing during a school outing at the park. Staff from the school division, park employees and emergency responders searched the area, while drones were deployed to assist in locating the child. Staff Sgt. Darren Lole said the boy was found in the water within about an hour of the initial report. He was taken to hospital, where he was pronounced dead

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Broadcasting Notice of Consultation

BC Children's Hospital