Rural Strathcona Country Real Estate Market- Sales Statistics June 2024

Rural Strathcona County real estate market continues to be a highly sought-after region for homebuyers and investors looking for acreages. With its picturesque landscapes, close proximity to Edmonton, and a blend of rural tranquility and urban convenience, it’s no wonder that the real estate market here remains vibrant. In this analysis, we delve into the latest trends and statistics for rural Strathcona County acreage sales, drawing on data from the first half of 2024.

Bar graphs below are interactive

Strathcona County -Acreage Listings

New listings have also seen an uptick. There were 72 new listings in June 2024, a 7.46% increase from the previous year. YTD new listings in 2024 reached 360, up from 309 in 2023, which is a 16.50% increase. The growing inventory provides more options for buyers and reflects a healthy and dynamic market.

Strathcona County – Average Acreage List Price

The average asking price has seen a significant rise, highlighting seller confidence. The YTD average asking price in 2024 was $936K, up 16.07% from $866K in 2023. This substantial increase indicates that sellers are optimistic about achieving higher returns on their properties.

Strathcona County –Acreage Sales 

The first notable trend is the increase in the number of sold properties. In June 2024, there were 37 properties sold, marking a 5.71% increase from June 2023. Year-to-date (YTD) figures are equally promising, with 185 properties sold in 2024 compared to 152 in 2023, representing a significant 21.71% increase. This surge in sales indicates a strong demand for rural acreages in Strathcona County.

Strathcona County Real Estate Market –Acreage Average Sales Price

One of the most critical indicators of market health is the average sale price. In June 2024, the average sale price for rural Strathcona County acreages was $779K, a 3.46% increase from June 2023. Despite this month-to-month increase, the YTD average sale price showed a slight decrease of 2.55%, falling to $731K in 2024 from $751K in 2023. This minor decline suggests some market stabilization following previous rapid price increases.

The sale-to-ask ratio, which compares the final sale price to the initial asking price, provides further insight into market conditions. The YTD sale-to-ask ratio in 2024 is 0.970, slightly down from 0.975 in 2023. This small decrease indicates that while properties are still selling close to their asking prices, buyers may have a bit more negotiation power than in the previous year.

Strathcona County Acreage Average Days on Market

Another vital metric is the number of days properties spend on the market before being sold. In 2024, properties in rural Strathcona County have spent an average of 86 days on the market, down from 98 days in 2023. This 12.24% decrease suggests that properties are selling more quickly, likely due to the increased demand and competitive pricing.

To provide a clearer picture of market trends, it’s helpful to look at monthly and yearly comparisons. In June 2024, the average sales price was $779K, a 3.46% increase from June 2023. The monthly sold properties have seen slight fluctuations, with 37 properties sold in June 2024, compared to 44 in May 2024 and 32 in June 2023. These variations are typical in real estate markets and reflect seasonal changes and market dynamics.

The rural Strathcona County acreage market in 2024 shows promising signs of growth and stability. With increased sales, rising new listings, and competitive pricing, the market remains attractive to both buyers and sellers. As the region continues to develop and evolve, it will undoubtedly maintain its status as a desirable destination for those seeking the perfect blend of rural and urban living.

Looking ahead, the rural Strathcona County real estate market is expected to remain robust. The continued demand for acreages, coupled with limited inventory, will likely sustain price growth. However, buyers may benefit from the slight decrease in the sale-to-ask ratio, indicating some room for negotiation.

Investors and homebuyers should keep an eye on economic indicators and interest rate trends, as these can significantly impact market dynamics. Additionally, regional developments and infrastructure projects could further enhance the area’s appeal, driving future demand.

Whether you are a potential buyer looking for your dream acreage or a seller aiming to maximize your investment, understanding these market trends and dynamics is crucial. Stay informed, work with experienced real estate professionals, and make well-informed decisions to navigate this vibrant market successfully.

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. 

Are you considering buying or selling or just interested in more information on the real estate market in Strathcona County? CONTACT ME HERE

Strathcona County Website