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Stony Plain Real Estate Statistics
Stony Plain Real Estate Market Statistics Update: A Look at 2024 So Far
The Stony Plain real estate statistics for the month presents an intriguing landscape for buyers, sellers, and investors. With the year unfolding, significant changes and trends are becoming apparent in the local housing market dynamics. Here’s an in-depth analysis based on the latest data, highlighting the year-to-date (YTD) statistics compared to the previous year.
Sold Properties: A Surge in Sales Volume for Stony Plain
One of the most notable trends this year has been the increase in the number of properties sold. As of YTD 2024, Stony Plain witnessed a commendable 18.48% rise in sold properties. 109 sales were recorded, compared to 92 in the same period of 2023. This uptick indicates a growing demand in the local real estate market. Specifically, in March 2024, there were 47 properties sold, marking a 9.30% increase from March 2023, which only saw 40 sales. This reflects an active market, inviting for both potential homeowners and real estate investors.
Pricing Trends in Stony Plain: The Ups and Downs
In terms of pricing, the landscape shows a mix of fluctuations that are critical for market stakeholders to understand. New listings have seen a significant dip of 35.21%, and listing prices up by 23.78%.
Stony Plain Market Dynamics: Days on Market and Sale-to-List Ratio
Another critical aspect to consider is the time properties spend on the market and the average ask-to-sell ratio. The days on the market until sale have slightly decreased by 12.36% YTD, indicating a quicker turnover and a more dynamic market environment. Concurrently, the average ask-to-sell ratio has shown a slight improvement, moving from 0.973 in 2023 to 0.986 in YTD 2024. This subtle change suggests that properties are selling closer to their asking prices.
Stony Plain Real Estate Market numbers below…
Below Graphs Are Interactive
Stony Plain Real Estate – New MLS® Listings
A total of 46 homes came to market in the month of March, a decrease or 35% from 71 last March.
Stony Plain Average Listing Price
The average ask price of homes was up 23.78% to $435k. In march of 2023 the average list price of homes was $351.7k.
Stony Plain Home Sales
Home sales were up by 9.3% totalling 47 for the month. 43 homes sold on Stony Plain during March of 2023.
Stony Plain Real Estate Market- Average Home Sale Price
The average sale price of a home in Stony Plain was relatively flat to last year a 1% decrease to $400.4k.
Stony Plain Average Days on Market
Homes in Stony Plain were on MLS® an average of 80 days prior to sale.
As we analyze the Stony Plain real estate market, it’s evident that 2024 is shaping up to be a year of growth and recovery. The increase in sales volume, coupled with the rising average sale prices, suggests a healthy market condition favorable to sellers. For buyers, the decrease in average asking prices for new listings offers opportunities to enter the market at more accessible price points.
The real estate market is ever-evolving, and staying informed about these trends is crucial for making educated decisions. Whether you’re looking to buy, sell, or invest in Stony Plain, understanding these dynamics can provide a significant advantage. As the year progresses, it will be interesting to see how these trends develop and what new patterns emerge in this vibrant community.
Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information.
If you are considering buying or selling a home in Stony Plain or just want more information on the Stony Plain real estate market, CONTACT ME HERE.
