Stony Plain Real Estate Statistics Market Update: October 2024 

# Stony Plain Real Estate Market Analysis: A Comprehensive Look at 2024 Trends

Stony Plain’s real estate market has been showing dynamic activity throughout 2024, with significant year-over-year growth in both sales volume and prices. Here’s a comprehensive look at the latest trends based on the data from October 2024.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings 

In October, Stony Plain saw 40 new listings, a 16.67% decrease compared to the same month last year. YTD, however, the total number of new listings increased 3.91%, reaching 531 listings versus 511 in 2023. The drop in October’s new listings suggests a potential tightening in inventory, which could continue to drive demand and prices up if supply remains limited.

Average Asking Price of Homes in Stony Plain

Despite the high demand, the average asking price in October 2024 was $357,000, which represents a slight decrease of 3.04% from the previous month. However, the YTD average asking price has increased by 8.23%, moving from $372,000 in 2023 to $403,000 in 2024.

Stony Plain Home Sales

In October 2024, Stony Plain recorded 52 sold properties, marking a substantial 92.59% increase compared to October 2023. Year-to-date (YTD) sales for 2024 stand at 446 properties, up 30.03% from 343 properties sold by this time in 2023. This increase reflects strong demand and a competitive market as buyers continue to view Stony Plain as an attractive place to settle.

Stony Plain – Average Home Sale Price

The average sale price in October was $345,000, a 14.37% increase over October 2023. Year-to-date, the average sale price has risen 7.98%, from $351,000 in 2023 to $379,000 in 2024, indicating that properties are selling closer to asking prices, and in many cases, at a premium.

The average ask-to-sell ratio for Stony Plain improved slightly to 0.98, reflecting that homes are selling very close to their listing prices.

Stony Plain Average Days on Market

Properties in Stony Plain are spending an average of 41 days on the market as of October 2024, a 25.45% decrease from the previous year, meaning homes are selling faster.

The data indicates that Stony Plain’s real estate market is thriving, driven by robust demand and steady price appreciation. With properties selling quickly and close to asking prices, both buyers and sellers should remain mindful of competitive conditions in the market. For potential sellers, now may be an opportune time to list, while buyers should be prepared to act swiftly given the quick turnover rate.

Whether you’re looking to buy, sell, or simply stay informed about the Stony Plain market, these insights reveal a strong year for local real estate, with demand likely to persist into 2025.

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 are considering buying or selling a home in Stony Plain or just want more information on the Stony Plain real estate market, CONTACT ME HERE.

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