Rural Strathcona Country Real Estate Market- Sales Statistics July 2024

Rural Strathcona County, known for its picturesque landscapes and expansive properties, continues to attract homebuyers seeking a blend of tranquility and accessibility. In 2024, the acreage market has shown dynamic changes, reflecting broader economic trends and the evolving preferences of buyers. This comprehensive blog explores the key metrics and trends shaping the rural Strathcona County acreage market, offering insights into property sales, pricing, and market dynamics.

Sales Activity Year-to-Date Overview

The year 2024 has been a robust one for acreage sales in rural Strathcona County. A total of 223 properties have been sold year-to-date (YTD), marking a significant 22.53% increase from the 182 properties sold during the same period in 2023. This uptick in sales activity underscores the growing demand for rural properties, likely driven by a combination of lifestyle changes and economic factors.

Bar graphs below are interactive

Strathcona County -Acreage Listings

The number of new listings and their pricing dynamics play a critical role in understanding the market’s health. In 2024, the rural Strathcona County market has maintained a steady flow of new listings, contributing to the overall activity and offering buyers a diverse range of options. However, specific data on the number of new listings and their average prices would further illuminate this aspect.

Strathcona County – Average Acreage List Price

The average asking price for acreages in rural Strathcona County has seen a slight decline YTD. In 2024, the average asking price stood at $857K, down by 1.16% from $866K in 2023. This minor decrease may indicate a market correction or adjustments by sellers to align with buyer expectations and market conditions.

Strathcona County –Acreage Sales 

Focusing on July 2024, there were 38 sold properties, which represents a 26.67% increase compared to July 2023. This monthly surge highlights a particularly strong mid-year performance in the acreage market, suggesting heightened buyer interest and successful closing of transactions during the summer months.

Strathcona County Real Estate Market –Acreage Average Sales Price

Conversely, the average sale price has shown a remarkable increase. In July 2024, the average sale price was $833K, a substantial 29.82% rise from July 2023. YTD, the average sale price reached $749K, up by 2.20% from the previous year. This trend reflects strong buyer willingness to meet seller expectations and potentially increased competition for desirable properties.

Looking at the annual data, the average sale price in January 2022 was $675K, rising to $672K in January 2023, and then to $721K by January 2024. This steady upward trend over the years underscores the long-term appreciation of rural properties in Strathcona County, making it an attractive investment for buyers.

Examining the historical price trends provides valuable context for the current market dynamics. In July 2022, the average sale price was $831K, which decreased to $786K by July 2023. The rebound to $833K in July 2024 marks a significant recovery and growth trajectory, highlighting the market’s resilience and the increasing value of rural properties.

The ask-to-sell ratio, which compares the asking price to the final sale price, offers insights into seller flexibility and market competitiveness. YTD in 2024, this ratio was 0.968, slightly down by 1.75% from 0.975 in 2023. This minor decline indicates that while sellers are still achieving close to their asking prices, there is a slight trend towards more negotiation and price adjustments.

Strathcona County Acreage Average Days on Market

An important indicator of market efficiency is the average number of days properties spend on the market before being sold. In 2024, properties in rural Strathcona County had an average of 77 days on the market, a significant increase of 57.14% compared to previous periods. This extended duration could suggest a more deliberate decision-making process by buyers or potential challenges in closing transactions swiftly.

The rural Strathcona County acreage market in 2024 has demonstrated strong performance, with significant increases in both sales activity and average sale prices. While the average asking price has slightly decreased, the market’s overall health remains robust, supported by the rising demand for rural properties. The extended days on market and slight decline in the ask-to-sell ratio suggest a balanced market where buyers and sellers are engaging in thoughtful negotiations.

As the year progresses, monitoring these trends will be crucial for buyers, sellers, and real estate professionals to make informed decisions. The picturesque landscapes, combined with the strategic location of Strathcona County, continue to make it a desirable destination for those seeking a blend of rural charm and accessibility.

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. 

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