Stony Plain Real Estate Statistics Market Update: June 2024 

Stony Plain real estate market latest trends. The real estate market in Stony Plain has experienced significant changes in 2024. As we navigate through the year, it’s essential to understand the dynamics that have shaped the market so far. This comprehensive review will delve into key statistics, trends, and insights, offering a thorough understanding of the Stony Plain real estate landscape.

Stony Plain, known for its charming small-town atmosphere and proximity to Edmonton, has seen a noticeable uptick in real estate activity in 2024. The market has been characterized by an increase in both the number of properties sold and the average sale prices. Let’s break down the numbers to see what this means for buyers, sellers, and investors.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings 

New listings in the market have also seen a positive trend. The YTD figure for new listings in 2024 is 331, up 10.71% from 322 in 2023. While this indicates a healthy supply of properties entering the market, it also underscores the sustained demand as these properties are being absorbed at a fast pace.

Average Asking Price of Homes in Stony Plain

The average asking price in Stony Plain has also seen a rise. In 2024, the average asking price was $414K, reflecting a 2.64% increase from the previous year. When comparing YTD figures, the average asking price rose from $373K in 2023 to $420K in 2024, a notable 12.65% increase. This upward trend suggests that sellers are confident in the market’s ability to sustain higher prices, likely due to increased demand and a competitive buying environment.

Stony Plain Home Sales

In June 2024, Stony Plain recorded 49 sold properties, marking a 16.67% increase from June 2023. Year-to-date (YTD) figures are even more impressive, with 268 properties sold in 2024, up 32.02% from the 203 properties sold in the same period in 2023. This increase in sales volume indicates a robust demand for homes in the area, driven by a combination of factors including economic conditions, buyer confidence, and attractive property prices.

An analysis of monthly sold properties shows a consistent increase throughout the year. From January to June 2024, the number of sold properties each month ranged from 29 to 56, indicating a robust market with sustained sales activity. This monthly breakdown underscores the market’s resilience and the steady demand for real estate in Stony Plain.

Stony Plain Real Estate Market- Average Home Sale Price

Perhaps the most significant indicator of market strength is the average sale price. In June 2024, the average sale price reached $401K, which represents a substantial 20.17% increase from June 2023. The YTD average sale price was $388K in 2024, up from $347K in 2023, showing an 11.69% increase. These figures highlight a strong seller’s market where properties are commanding higher prices and buyers are willing to meet these valuations.

Over the first half of 2024, the monthly average has steadily risen, reflecting the broader trend of increasing property values. For instance, in January 2024, the average sale price was $301K, highlighting a steady climb through the year.

The average ask to sell ratio in 2024 stood at 0.994, a slight increase from 0.976 in 2023. This ratio, which compares the final sale price to the original asking price, suggests that homes in Stony Plain are selling very close to their asking prices, reflecting a balanced negotiation process between buyers and sellers.

Stony Plain Average Days on Market

One of the more dynamic changes observed in 2024 is the reduction in the average days on market until sale. In 2024, properties in Stony Plain were selling in an average of 28 days, down from 57 days in 2023, marking a 41.67% decrease. This rapid turnover indicates a highly competitive market where properties are quickly snapped up, often due to strong buyer interest and well-priced listings.

The Stony Plain real estate market in 2024 has demonstrated significant growth. With increased property sales, rising average prices, and quicker turnaround times, the market has favored sellers. However, the steady inflow of new listings ensures that buyers have options to choose from, maintaining a level of market equilibrium. As we move into the latter half of the year, these trends suggest a continued robust market, driven by strong demand and economic factors that favour real estate investments.

Looking ahead, the Stony Plain real estate market is poised for continued growth. Buyers and sellers should keep an eye on economic indicators, interest rates, and local development projects that could impact market dynamics. For now, the market remains vibrant and full of opportunities for those looking to invest in this charming Alberta town.

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.

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