Home / Business and Economy / High Level Homes Sit Empty After Mill Closure

High Level Homes Sit Empty After Mill Closure

Summary

  • Dozens of homes vacant following 190 job losses.
  • Realtor reports 24 vacancies, a record high for the town.
  • Home sales slow, with one listing price dropped significantly.
High Level Homes Sit Empty After Mill Closure

Dozens of homes are currently unoccupied in High Level, Alberta, as residents depart following the loss of 190 local jobs in April due to the West Fraser Mill curtailment. Realtor Margaret Carroll, active in the town since 1998, has reported a record number of 24 vacancies among the roughly 200 rentals she manages, a situation she has never encountered previously. She remains optimistic about filling these vacancies, expecting more interest as the school year approaches.

The number of homes listed for sale has also seen a notable increase. Many owners have already moved, often due to job relocations, leaving their properties on the market. Selling these homes, which average between $250,000 and $350,000, has proven challenging. Gerald Hexspoor, for instance, reduced the price of his home from around $600,000 to $499,500 after two years on the market, citing economic factors influencing the real estate landscape.

Town officials acknowledge High Level's history of economic transitions, particularly within the resource sector, but emphasize its role as a resilient service centre. Despite past mill shutdowns and the current economic climate, job opportunities persist in sectors like education and healthcare. The potential for future resource booms also offers hope for real estate market recovery, though residents like Hexspoor and McAskile's daughter face financial strain from owning vacant properties while renting elsewhere.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

Read more news on

Property Code: 5571