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Spruce Grove Real Estate Market Statistics – March 2024
The Spruce Grove real estate market has shown remarkable growth and resilience throughout the early months of 2024. This signals a vibrant and dynamic housing environment for both sellers and buyers.
Starting with sold properties, Spruce Grove has witnessed a significant increase in market activity. In March 2024 alone, the number of properties sold jumped to 110, marking a 39.24% increase compared to March 2023. The year-to-date (YTD) figures are equally impressive, with 252 properties sold, up by 38.46% from the same period last year. This uptick in sales volume underscores the growing demand and buyer confidence in the local real estate market.
Turning our attention to the average asking price, there’s a notable rise that reflects the market’s health. The average sale price in March 2024 soared to $417K, a robust 17.31% increase from the previous year. The YTD average sale price also grew to $399K, up by 7.30% from 2023, demonstrating a consistent upward trend in property values. These figures are bolstered by an encouraging average ask to sell ratio of 0.992 in 2024, a slight improvement from 0.979 in 2023, indicating that properties are selling closer to their asking prices.
Furthermore, the monthly sales price data reveals a continuous growth pattern in the average selling price, with a notable increase to $417K in March 2024. This represents a significant 17.31% rise year-over-year and highlights the positive momentum in Spruce Grove.
Another critical metric, the days on market until sale, has seen a positive shift with properties now selling faster. The average days on market decreased to 71 in 2024, from 77 in 2023, a -7.79% change. This faster turnover rate is a clear indicator of a competitive market where well-priced homes are quickly attracting buyers.
More detailed information below
The below graphs are interactive
New MLS® Listing Count
163 new listings came on to MLS® in Spruce Grove during March 2024. That’s an increase from 132 in March of 2023.
Average Listing Price
The average listing price of homes in March was $465k. This is an increase of 12.85% over last year March.
Home Sales Numbers
Home sales in Spruce Grove were up to 110 during the month. This is an increase of 39.24% over March 2023
Average Home Sale Price
Home prices in Spruce Grove were up significantly during the month. With homes selling at an average of $416.5k, up from $355.1k last March.
Average Days on MLS®
Homes in Spruce Grove were on MLS® an average of 68 days before sale.
The Spruce Grove real estate market in 2024 showcases strong growth, increased buyer interest, and a healthy uptick in property values. Whether you’re considering buying, selling, or simply keeping an eye on the market, these statistics offer valuable insights into the local real estate dynamics.
For more information on buying or selling in Spruce Grove CONTACT CHRIS REID
