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Parkland County Acreage Sales Statistics – June 2024
Parkland County acreage sales has experienced notable trends in its real estate market for acreages in 2024. The overall YTD figures highlight the market’s resilience and potential for growth. The increase in sold properties suggests that while monthly figures may vary, the general trend is positive, signalling strong buyer interest and successful sales.
Parkland County, renowned for its stunning landscapes and desirable rural properties. Understanding these trends is crucial for both buyers and sellers aiming to make informed decisions. This analysis delves into the key metrics and changes observed in the market this year.
Below Graphs Are Interactive
Parkland County Acreage Listings
The number of new listings saw a noticeable decline, with 96 new listings in June 2024, down by 25.58% from the previous year. This reduction in new listings could indicate a tightening supply, potentially driving up competition among buyers and contributing to the increase in average sale prices observed YTD.
Parkland County Average List Price
The average asking price for new listings in June 2024 was $685K. This price shows a 16.3% increase from June 2023.
Parkland County Acreage Sales
In June 2024, there were 66 sold properties, marking a 9.59% decrease compared to June 2023. This reduction reflects a broader trend observed over the year. Despite this, the year-to-date (YTD) statistics show a more positive outlook. By mid-2024, 316 properties had been sold, representing a significant 16.18% increase from 272 properties sold during the same period in 2023. This surge indicates growing interest and demand for Parkland County acreages despite short-term fluctuations.
The number of sold properties has varied month-to-month, with some months showing higher activity than others. This variability is normal in real estate markets, often influenced by factors such as weather, economic conditions, and buyer behaviour patterns.
Parkland County Average Sale Price
The average sale price in June 2024 was also $564K, indicating that sellers are pricing their properties realistically, aligning their asking prices closely with the actual sale prices. On a YTD basis, the average sale price reached $604K, up by 9.83% from $550K in 2023. This increase underscores a healthy appreciation in property values, reflecting the desirability and value of acreages in Parkland County.
The average ask to sell ratio stands at 0.979, a slight increase of 1.02% from the previous year. This ratio suggests that properties are selling very close to their asking prices, reinforcing the trend of realistic pricing by sellers and a balanced market where neither buyers nor sellers hold a dominant position.
Monthly average sales prices have seen fluctuations, with notable peaks and troughs. For instance, in January 2024, the average price was $611K, but it decreased to $564K by June 2024. This volatility reflects typical seasonal patterns and market dynamics.
Parkland County Acreage Days on Market
Properties in Parkland County typically spent 121 days on the market before sale, which is a significant 21% increase compared to the previous year. This longer time on the market could be due to various factors, including higher buyer scrutiny or seasonal variations in demand.
The Parkland County acreage market in 2024 presents a dynamic and evolving landscape. Despite short-term fluctuations, the overall trend points towards a robust and appreciating market. Sellers are achieving close to their asking prices, and property values have seen significant increases, especially in the higher-end market segments. For buyers, understanding these trends and acting strategically is key to securing desirable properties in this competitive market.
For more detailed insights and personalized advice, contact local real estate experts who can provide tailored guidance based on your specific needs and goals.
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 would like more information on buying and selling in Parkland County CONTACT CHRIS REID
