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Parkland County Acreage Sales Statistics – March 2024
Parkland County acreage sales statistics for 2024 reveal trends that are reshaping the landscape for both sellers and buyers.
Sold Properties Analysis
Parkland County witnessed a slight contraction in sold properties, with 40 transactions marking a 9.09% decrease compared to March 2023. However, when we broaden our lens to the year-to-date (YTD) figures, there’s a silver lining. The YTD count in 2024 tallies at 104 sold properties, demonstrating a 9.47% uptick from the previous year. This rebound underscores a resilient market that, despite short-term fluctuations, shows an overall positive trajectory.
Pricing Trends: A Seller’s Market
A pivotal factor fuelling Parkland County’s market dynamics is the pricing trend, which significantly leans towards a seller’s advantage. The average asking price has surged to $750K, marking a notable 27.09% increase YTD in 2024 compared to 2023. The escalation is slightly mirrored in the YTD change from 2023, where the average asking price was $745K, a 28.67% hike from $579K in 2023. Furthermore, the average sale price stands at $730K, a staggering 43.34% increase YTD in 2024, compared to the same period in 2023. Significant appreciation in property values indicates a robust demand and a competitive market environment.
Market Liquidity and New Listings
Turning our attention to market liquidity, the number of new listings in Parkland County tells a story of cautious optimism. With 95 new listings YTD in 2024, there’s a slight 6.86% decrease compared to 2023. This marginal decline suggests a tighter market, with fewer homeowners willing to sell, potentially due to the attractive price appreciations.
The Selling Process: Days on Market and Sale Ratios
The days on market until sale have shown a fascinating shift, with properties now taking slightly longer to sell. However, the average ask to sell ratio presents a compelling narrative of market efficiency and negotiation dynamics, standing at 0.952 in 2024. This minor adjustment reflects a balanced negotiation environment between buyers and sellers, ensuring fair market value transactions.
Implications for Buyers and Sellers
For sellers, the current market presents an opportune moment, with property values appreciating significantly. However, it’s crucial to price properties competitively, considering the slight increase in days on market. Buyers, while the market appears challenging due to rising prices, the slight increase in negotiation room and the robust year-over-year growth in property values indicate a strong investment potential in Parkland County.
Below Graphs Are Interactive
Parkland County Acreage Listings
95 New listings came to market in Parkland for the month, this is down from 102 in March of 2023.
Parkland County Acreage Average List Price
Average list price for acreages for March was $750.4k and increase of 27% from same time last year.
Parkland County Acreage Sales
40 acreages sold in Parkland during the month, a decrease of 4 acreages from last March.
Parkland County Acreage Average Sale Price
Acreages sold at an increase of 43% over last year’s price of $509.1k, averaging out to $730k.
Parkland County Acreage Days on Market
Acreages were on MLS® an average of 145 days before sale.
Parkland County’s acreage sales in 2024 showcases a dynamic interplay of factors, with a strong seller’s market emerging. Despite the decreased number of sold properties in March, the overall increase in sales, coupled with significant price appreciations, underscores a healthy and growing market. Whether you’re a buyer looking to invest or a seller aiming to capitalize on your property, understanding these trends is crucial for making informed decisions in this vibrant real estate landscape.
If you would like more information on buying and selling in Parkland County CONTACT CHRIS REID
