Facebook
X
Pinterest
Copy Link
Rural Strathcona Country Real Estate Market- Sales Statistics September 2024
Rural Strathcona County offers a unique opportunity for those seeking the quiet of the countryside with easy access to the bustling urban amenities of nearby Edmonton. The rural acreage market in Strathcona County has shown strong, notable trends in 2024, offering insights that can benefit buyers, sellers, and real estate investors. In this post, we’ll explore the trends driving demand, market performance data, and provide a forecast for this market.
Strathcona County Acreage Market: A 2024 Snapshot
In 2024, the rural acreage market of Strathcona County continued to captivate buyers looking for expansive properties. Data collected shows a generally active market with fluctuations in demand and value.
Key Market Highlights for 2024:
- Sold Properties in September 2024: 32, marking a 3.03% decrease compared to September 2023.
- Year-to-Date (YTD) Sold Properties: 291 in 2024, an 18.29% increase from 246 in 2023.
- Average Asking Price: $1.07M, reflecting a 23.11% increase year-to-date compared to last year.
- Average Sale Price for September 2024: $769K, a 20.28% rise from the previous year.
- Days on Market Until Sale: While data is not specified, other metrics suggest quickened sale times.
- Average Ask-to-Sell Ratio: 81.00, up by 6.58%, signalling a strong seller’s market.
Bar graphs below are interactive
Strathcona County -Acreage Listings
The rural Strathcona County acreage market saw 49 new listings in September 2024, a year-to-date decline of 10.91% compared to last year’s figures. With 529 listings so far in 2024, up 13.28% from 467 in 2023, it’s clear that there’s still a steady influx of properties.
The decline in new listings on a month-to-month basis points toward tightening inventory. This could mean buyers are moving quickly on available properties, potentially driving up prices as demand outpaces supply. For sellers, this might be an ideal time to list, as less competition can lead to higher sale prices.
Strathcona County – Average Acreage List Price
Strathcona County’s acreage market is seeing impressive price increases, highlighting the demand for rural properties:
- Average Asking Price: The average asking price as of September 2024 is $1.07 million, a remarkable 23.11% increase year-to-date over 2023. This substantial hike could be due to increased demand, limited supply, and higher-quality listings in the rural market.
Strathcona County –Acreage Sales
The number of sold properties in Strathcona County’s rural acreage market has experienced noticeable growth in 2024. By September, 291 properties had been sold year-to-date, an impressive increase of 18.29% over last year’s 246 properties sold during the same period. This rise suggests a growing interest among buyers, particularly in rural acreage properties, driven by the appeal of extra space and proximity to nature.
In September 2024 alone, 32 properties were sold, a slight dip of 3.03% from September 2023. Although this is a minor decrease, the overall annual growth trajectory indicates a robust market.
Why is this important?
The rising number of property sales reflects both sustained interest and a possible limited inventory in Strathcona County. Buyers are eager to secure these properties, suggesting they see long-term value in rural real estate here. Investors and potential sellers can take note: with an 18.29% increase in YTD sales, demand is evidently strong.
Strathcona County Real Estate Market –Acreage Average Sales Price
Average Sale Price: In September 2024, properties sold for an average of $769,000, up 20.28% from last year. Year-to-date, the average sale price stands at $753,000, which is 6.10% higher than in 2023.
The rise in both asking and selling prices indicates a strong seller’s market, where properties are commanding higher values. This price increase underscores that buyers value the benefits of Strathcona’s rural lifestyle and are willing to pay a premium.
Analyzing the Ask-to-Sell Ratio
An essential metric for understanding the market’s health, the ask-to-sell ratio in Strathcona County is 81.00, a 6.58% rise compared to last year. This ratio indicates that properties are selling close to the asking price, which suggests high buyer interest and limited room for negotiation. A ratio of this level indicates that sellers are achieving their desired price points, which is beneficial for sellers but adds urgency for buyers who may be looking to enter the market.
Strathcona County Acreage Average Days on Market
Days on Market: Faster Sales Reflect a Hot Market
While precise data on days on the market for September 2024 is not detailed, we know that the reduced inventory and increased demand likely correlate with shorter sales periods. Homes that are priced competitively and marketed effectively are selling quickly, highlighting a market where motivated buyers are ready to close deals promptly.
For buyers, this means moving quickly to secure desired properties. For sellers, it provides confidence that a well-priced, desirable property is likely to attract offers soon after listing.
Monthly Sales Performance: Year-Over-Year Comparison
Looking at the monthly basis for the number of sold properties:
- 2024 Monthly Average Sold Properties: 84
- 2023 Monthly Average Sold Properties: 86
This -2.33% change indicates slight monthly volatility. However, the consistent YTD sales increase shows that these slight fluctuations are part of a larger trend of growth in interest.
Investment Outlook for Strathcona County Acreages
For those considering investment in rural Strathcona County acreages, the data paints a promising picture. The consistent rise in average asking and selling prices, coupled with the strong demand, suggests that properties are likely to appreciate in value. The 23.11% increase in average asking price and the 20.28% surge in average sale price indicate a high potential for return on investment in this area.
Given the appeal of spacious rural properties and the proximity to urban centres, Strathcona County’s real estate appears to be an excellent investment option, particularly as land availability near urban centres diminishes.
Strathcona County Acreages: Future Outlook and Trends
The rural acreage market in Strathcona County has demonstrated remarkable resilience and growth. Looking ahead, we anticipate continued interest and demand for properties in this area, supported by several factors:
- Post-Pandemic Lifestyle Shifts: Many buyers are seeking rural spaces that provide tranquility and proximity to nature, especially with increased opportunities for remote work.
- Limited Inventory and Rising Demand: With fewer properties coming on the market, scarcity could continue to push prices higher, making it an opportune time for sellers.
- High-Quality Amenities and Access to Edmonton: Strathcona County offers a balance of rural lifestyle with access to modern amenities, making it attractive for families, retirees, and investors alike.
Conclusion
Strathcona County’s rural acreage market in 2024 reflects strong growth and solid investment potential. With an 18.29% increase in sold properties year-to-date, a 23.11% rise in average asking price, and a 20.28% boost in average sale price, the numbers indicate a vibrant and competitive market. The reduced monthly listings, high ask-to-sell ratio, and shorter days on the market reflect a seller’s advantage, while buyers continue to show willingness to meet rising price expectations.
For those interested in exploring the acreage market in Strathcona County, these trends offer compelling reasons to act now, whether buying, selling, or investing. Strathcona’s blend of natural beauty, strong market demand, and proximity to Edmonton makes it one of the most desirable rural locations in Alberta. As we move forward, staying informed about these shifts will empower you to make the most of this flourishing 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.
Looking to Buy or Sell Acreages in Strathcona County?
Whether you’re a buyer eager to find your perfect rural retreat or a seller ready to capitalize on this favourable market, I’m here to help. Reach out to explore available properties or to discuss your goals.
