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Fort Saskatchewan Real Estate Market Statistics – September 2024
The Fort Saskatchewan real estate market is showing remarkable growth and resilience. With significant gains in both property sales and values, it continues to attract buyers looking for a thriving community within reach of Edmonton. Here’s a comprehensive look at the latest statistics and trends that have shaped Fort Saskatchewan’s real estate market so far this year.
Bar Graphs Below Are Interactive
Fort Saskatchewan MLS® Listings
Although buyer demand is high, new listings have seen a slight dip. In September 2024, there were 76 new listings, a 2.56% decrease compared to the previous year. However, on a YTD basis, there were 767 new listings in 2024, which shows a 1.99% increase from 752 in 2023. The marginal increase in listings YTD contrasts with the significant rise in demand, indicating a tightening market where supply is struggling to keep up with buyer interest.
Fort Saskatchewan Average List Price
The average asking price for homes in Fort Saskatchewan has seen a notable increase, marking a consistent upward trend in 2024. As of the latest data, the average asking price is $476,000, reflecting a 13.71% increase compared to the same period in 2023. When broken down, the asking prices have grown from $417,000 to $475,000 YTD, a 13.97% rise. This increase is a testament to the rising demand for properties in Fort Saskatchewan and signals a competitive market environment.
Fort Saskatchewan Home Sales
On a monthly basis, the number of sold properties has experienced fluctuations. For example, comparing the YTD monthly average reveals a 20.27% decrease in sold properties from the same period last year, with September standing out as an exceptionally strong month. This variability might suggest that seasonal factors, combined with Fort Saskatchewan’s unique market conditions, have influenced buyer activity, driving higher sales during certain periods.
Fort Saskatchewan Average Home Sale Price
The average sale price in Fort Saskatchewan has also surged, indicating that buyers are willing to pay a premium to secure properties in the area. In September 2024, the average sale price was $470,000, which represents a 26.51% increase from September 2023. For the YTD period, the average sale price is recorded at $442,000, marking an 11.44% increase from $397,000 in 2023. This consistent appreciation in sale prices underscores the area’s value growth, making it an appealing option for investors and homebuyers alike.
The ask-to-sell ratio in Fort Saskatchewan shows a market where sellers are receiving offers close to their asking prices. In September, the ratio was recorded at 0.993, marking a 1.45% increase compared to the previous period. The average ratio over the YTD period is around 1.00, indicating that most homes are selling at or near the asking price. This trend reinforces Fort Saskatchewan’s status as a seller’s market, with minimal negotiation on listed prices.
Fort Saskatchewan -Average Days on Market
Homes in Fort Saskatchewan are selling faster, further underscoring the competitive market conditions. While detailed metrics on the average days on market (DOM) aren’t included in this update, the overall trend suggests a swifter turnover. This accelerated sales pace is a strong indicator of the demand and can potentially influence higher offers from buyers eager to secure a home in this high-demand area.
The 2024 Fort Saskatchewan real estate market reflects substantial growth in sales volume, average prices, and strong buyer demand. With a 60.87% increase in property sales and a 26.51% increase in average sales price in September alone, Fort Saskatchewan has emerged as a dynamic and desirable area within the Edmonton region. The 13.71% increase in asking prices and the competitive ask-to-sell ratio further validate that demand is outpacing supply, making it an ideal market for sellers while posing opportunities for buyers willing to act swiftly.
This market data not only highlights Fort Saskatchewan’s current standing but also positions it as a lucrative investment destination moving forward, driven by rising demand, limited inventory, and steadily appreciating property values.
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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