Fort Saskatchewan Real Estate Market Statistics – July 2024

Fort Saskatchewan, a charming city just northeast of Edmonton, is known for its blend of urban amenities and small-town feel. With a robust industrial sector, beautiful parks, and a strong sense of community, Fort Saskatchewan has become an attractive destination for homebuyers. This blog delves into the real estate trends and statistics for Fort Saskatchewan in 2024, providing a comprehensive overview of the market’s performance and what it means for buyers, sellers, and investors.

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

There were 82 new listings in July 2024, a slight decrease of 2.38% from July 2023.

Fort Saskatchewan Average List Price

Fort Saskatchewan Home Sales

There were 70 properties sold in July 2024, a 7.69% increase from July 2023. Year-to-date (YTD) 2024 saw 496 properties sold, marking a substantial 27.84% increase from 2023.

Fort Saskatchewan Average Home Sale Price

The average sale price was $462K in July 2024, reflecting an 11.38% increase compared to the previous year.

Average Sale Price YTD: The YTD average sale price in 2024 is $436K, up 7.69% from $405K in 2023.

Monthly Sales Price Trends: The monthly sales price has seen consistent growth, with July 2024 reaching $460K compared to $412K in July 2023, showing the market’s upward trajectory.

Average Ask to Sell Ratio YTD: The ratio has improved from 0.982 in 2023 to 0.991 in 2024, indicating that homes are selling closer to their asking prices.

Fort Saskatchewan -Average Days on Market

The average number of days on market (DOM) until sale has decreased from 74 days in 2023 to 63 days in 2024, a reduction of 14.86%. This metric is crucial as it reflects the market’s speed and the demand for properties. A lower DOM typically suggests a seller’s market, where homes sell faster due to higher demand.

Several factors contribute to the current trends in Fort Saskatchewan’s real estate market:

1. Economic Growth: Fort Saskatchewan’s economy has been bolstered by its industrial sector, particularly in oil and gas, petrochemicals, and manufacturing. This economic stability attracts new residents and boosts demand for housing.
2. Population Growth: The city’s population growth has been steady, driven by its affordability compared to nearby Edmonton and its appeal to families and professionals seeking a suburban lifestyle.
3. Infrastructure and Amenities: Fort Saskatchewan offers excellent infrastructure, including schools, healthcare facilities, parks, and recreational areas, making it a desirable place to live.
4. Proximity to Edmonton: Its close proximity to Edmonton provides residents with easy access to urban amenities while enjoying a quieter, more relaxed environment.

Investment Opportunities

The Fort Saskatchewan real estate market presents several investment opportunities:

• Rental Properties: With the city’s growing population and economic stability, rental properties can offer steady income. The demand for rental housing remains strong, particularly among workers in the industrial sector.
• New Developments: Investing in new housing developments can be lucrative given the rising demand and limited inventory. Developers can capitalize on the need for modern, energy-efficient homes.
• Commercial Real Estate: The industrial growth in Fort Saskatchewan also opens opportunities for commercial real estate investments, particularly in retail and office spaces catering to the growing workforce.

Challenges and Considerations

Despite the positive trends, there are challenges and considerations for potential buyers and investors:

• Market Competition: The increased demand and limited new listings can lead to intense competition among buyers, driving up prices and making it challenging to secure desired properties.
• Economic Dependence: The city’s economy is heavily reliant on the industrial sector, particularly oil and gas. Fluctuations in these industries can impact the real estate market.
• Interest Rates: While current low-interest rates have fueled market growth, any potential increases could affect affordability and demand.

Future Outlook

The future outlook for Fort Saskatchewan’s real estate market remains positive. Continued economic growth, population increases, and infrastructure development are expected to sustain demand. The market is likely to remain competitive, with steady price appreciation and reduced days on market.

Investors and buyers should stay informed about market trends and be prepared to act quickly in this dynamic environment. With the right strategies, there are ample opportunities to benefit from Fort Saskatchewan’s thriving real estate market.

Conclusion

Fort Saskatchewan’s real estate market in 2024 has shown robust growth and resilience. The increase in sold properties, rising average prices, and reduced days on market highlight a vibrant and competitive market. While there are challenges to navigate, the city’s economic stability, population growth, and excellent amenities make it an attractive destination for homebuyers and investors alike.

As the market continues to evolve, staying informed and adaptable will be key to making the most of the opportunities in Fort Saskatchewan’s real estate landscape. Whether you’re looking to buy, sell, or invest, this thriving market offers promising prospects for the future.

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 Fort Saskatchewan? CONTACT ME HERE 

City of Fort Saskatchewan Website