Parkland County Acreage Sales Statistics – September 2024

## Parkland County Acreage Sales: Trends and Insights for 2024

Nestled in Alberta, just west of Edmonton, Parkland County offers a blend of rural charm and modern convenience, making it a sought-after destination for those looking to escape the city’s bustle without sacrificing amenities. As 2024 unfolds, the Parkland County real estate market has experienced significant shifts, offering both opportunities and challenges for buyers and sellers. This article will analyze the latest data on sold properties, average asking prices, days on market, and more to provide a comprehensive overview of the current real estate trends in Parkland County.

Below Graphs Are Interactive

Parkland County Acreage Listings

Inventory levels play a crucial role in determining market dynamics, affecting both price trends and buyer competition. Data from 2024 shows a nuanced view of Parkland County’s inventory situation:

• September 2024 New Listings: A total of 107 new listings were recorded in September, representing a 7.00% increase from the prior year.
• Year-to-Date New Listings: The YTD figures indicate a slight decline in new listings, dropping by 4.89% from 921 in 2023 to 876 in 2024.

This decrease in YTD new listings, combined with an increase in sold properties, points to a tightening inventory, which could fuel further price increases if demand continues to outpace supply. For sellers, this may be a golden opportunity to list their property and capitalize on the competitive market conditions. Buyers, however, may need to act more decisively and be prepared for fewer options and potentially quicker decisions.

 Parkland County Average List Price

Rising asking prices have been a defining feature of Parkland County’s market in 2024, which could signal a shift toward a seller’s market.

• Average Asking Price for September 2024: The average asking price in Parkland County has increased by 26.75%, reaching $807K. This significant increase highlights strong seller confidence and an upward trend in property values.
• Year-to-Date Comparison: YTD figures also show a rise in asking prices from $632K in 2023 to $708K in 2024, marking a 12.06% increase.

The rise in asking prices can be attributed to heightened demand, increased property values, and potentially limited inventory, making it a favourable market for sellers. Buyers looking to invest in Parkland County should be prepared for higher price points and the potential for competition on sought-after properties.

Parkland County Acreage Sales

Parkland County’s monthly sold properties data showcases a steady growth trend throughout 2024.

• Monthly Sold Properties in 2024: The current year has consistently outpaced 2023 in monthly sold properties, with a 19.00% increase in monthly figures YTD.

This steady rise month-over-month signals sustained buyer interest and market resilience. Despite economic variables, Parkland County has maintained robust sales activity, further cementing its status as a preferred location for those seeking a balance between rural and accessible suburban living.

Parkland County’s real estate market has seen a noteworthy rise in sold properties, both in year-to-date (YTD) data and monthly figures for September 2024. Here’s a closer look:

• September 2024 Sold Properties: There were 54 sold properties in September, a 10.20% increase from the previous year, highlighting the growing interest in Parkland County properties.
• Year-to-Date 2024 Sold Properties: With a total of 493 sold properties YTD in 2024, Parkland County has seen a 13.33% increase compared to 2023.

This growth suggests that demand remains strong, likely driven by the unique combination of lifestyle and property value that Parkland County offers. The increase in sold properties indicates that more buyers are choosing to invest in the area, attracted by the blend of rural living, larger property sizes, and access to nature.

Parkland County Acreage Average Sale Price

Examining monthly sales prices helps illustrate how the market has performed on a more granular level. Notably:

• September 2024 Average Sales Price: The average sales price in September was $532K, which is a 25.39% increase from the same month in 2023. This sharp rise showcases a hot market and reflects the increased value perception of Parkland County properties.
• Year-to-Date 2024 Average Sales Price: YTD 2024 shows an average sales price of $591K, marking an 8.83% increase compared to YTD 2023.

The upward trajectory in monthly sales prices could indicate that buyers are increasingly willing to pay premiums for the lifestyle and space that Parkland County offers. Properties in this area likely appeal to those seeking larger, rural lots or acreage without the premium prices often associated with properties within Edmonton city limits.

Parkland County Acreage Days on Market

The average number of days on the market for properties in Parkland County has increased slightly to 139 days in September 2024, up by 37.6% from 2023. Despite this increase, the average time to sell remains relatively short, indicating a healthy demand for rural acreages.

Forecasting Future Trends: What Lies Ahead for Parkland County

With all indications pointing toward a sustained demand for Parkland County properties, here’s what to expect in the coming months:

• Sustained Price Growth: The upward trend in asking and selling prices will likely continue, fuelled by strong demand and limited new listings.
• Buyer Competition: With fewer days on the market and high ask-to-sell ratios, buyers should prepare for a competitive environment. Acting quickly on desirable properties may become the norm.
• Attractive Seller Conditions: Sellers are well-positioned to capitalize on the current market. The high ask-to-sell ratio, coupled with quick sales, suggests minimal need for price negotiation, as buyers remain willing to meet listing expectations.

Key Takeaways for Buyers and Sellers

For buyers, this market requires readiness to act decisively. Properties are moving quickly, and asking prices continue to rise, meaning waiting could lead to higher costs or fewer options. Consider your must-have criteria and be prepared to negotiate, especially if a property aligns with your vision.

For sellers, it’s an opportune time to list. With buyers showing a high willingness to pay close to asking prices and competition driving quick sales, sellers can confidently set competitive prices. It’s crucial, however, to present properties in their best possible light to maximize appeal.

Final Thoughts: Why Parkland County?

Parkland County represents a blend of rural peace and urban convenience, offering larger lots, a connection to nature, and a thriving community atmosphere. This combination appeals to families, professionals, and retirees alike, contributing to its resilience and growth in the real estate market. For those looking to buy or sell in Parkland County, 2024 continues to bring exciting opportunities.

In conclusion, Parkland County remains a strong real estate market with upward trends in demand, prices, and sold properties. Both buyers and sellers can navigate this market successfully by staying informed, prepared, and willing to act quickly as this dynamic market unfolds. Whether you’re looking to invest, relocate, or sell in Parkland County, understanding these trends will give you a clear advantage in making the most of this vibrant and evolving market.

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

Parkland County Website