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Parkland County Acreage Sales Statistics – October 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
The dynamics of new listings and inventory levels also provide key insights into the market. Although there was a slight decrease in new listings with 937 in 2024 compared to 979 in 2023, this 4.29% drop hasn’t dampened the market enthusiasm, as evidenced by the rising sales and prices. It may, however, indicate a tightening market with fewer new properties becoming available, potentially leading to increased competition among buyers.
Parkland County Average List Price
As demand grows, so does the value of acreage properties. The average asking price has seen a steady climb, reaching $721K in 2024, up by 7.25% from the previous year. This is part of a continuing trend of rising property values, with a significant jump of 11.69% in average asking prices from $634K in 2023 to $709K in 2024. The rising prices are indicative of a competitive market where buyers are willing to pay a premium for the unique blend of rural tranquility and accessibility that Parkland County offers.
Parkland County Acreage Sales
The year 2024 has been remarkable for acreage sales in Parkland County. By October, the county had seen a significant increase in property transactions, with a total of 60 properties sold, marking a substantial 22.45% rise from October 2023. This trend is mirrored in the year-to-date (YTD) data, which shows a 14.26% increase in sold properties, climbing from 484 in 2023 to 553 in 2024. Such figures underscore a thriving market that is attracting more interest from potential homeowners and investors seeking spacious, rural living options.
Parkland County Acreage Average Sale Price
The average sales price provides another lens through which to view the market’s strength. October 2024 recorded an average sale price of $609K, reflecting a modest increase of 1.56% from October 2023. However, the YTD average sales price shows a more robust growth of 8.05%, rising from $548K in 2023 to $593K in 2024. This trend suggests that while monthly fluctuations are relatively minor, the overall trajectory for acreage property values is upward.
The average ask-to-sell ratio has remained steady, moving from 0.962 in 2023 to 0.972 in 2024. This slight increase reflects a market where sellers are achieving sales very close to their asking prices, indicating strong buyer agreement on property values.
Parkland County Acreage Days on Market
One of the metrics closely watched by real estate professionals is the days on market until sale, which offers a gauge of market velocity and buyer urgency. In 2024, properties in Parkland County have been selling faster, with the average days on market decreasing to 154, a notable 20.31% faster than the previous year. This decrease suggests that properties are being snapped up more quickly, a sign of high demand in the acreage market.
The Parkland County acreage market in 2024 has demonstrated vibrant growth and robust activity, making it an attractive option for those seeking space and serenity without straying too far from urban amenities. With sold properties on the rise, increasing property values, and a market dynamic characterized by quick sales and efficient transactions, Parkland County stands out as a prime location for buyers looking for rural real estate investment opportunities and for sellers to capitalize on the increasing property values.
Prospective buyers and sellers are encouraged to stay informed and consider these trends when making real estate decisions in this increasingly popular area. As we move towards 2025, the market’s resilience and the growing interest in acreage properties suggest a continued upward trajectory, promising opportunities for those ready to engage with the Parkland County real estate 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
