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Parkland County Real Estate: A Year of Strong Growth and Optimistic Projections
As we close out another successful year in the Parkland County real estate market, it’s important to reflect on the trends, data, and insights that have shaped acreage sales over the past twelve months. The year 2024 has shown remarkable growth in the sale of properties in this area, painting a picture of a robust market with increasing buyer interest and rising property values. This analysis will delve into the specifics of these trends, providing a comprehensive overview of what has happened and what to expect in the future.
Below Graphs Are Interactive
Parkland County Acreage Listings
57 New listings came to market in November a 29.5% increase over same time last year. Year to date listings are down only 24 from 2023.
Parkland County Average List Price
One of the most noteworthy trends in Parkland County’s real estate market this year has been the substantial rise in property values. The average asking price for acreages shot up by an impressive 50.87% to $831,000, up from $715,000 the previous year. This sharp increase is reflective of the high demand for spacious, rural properties—an appeal that has grown exponentially in the wake of urban congestion and the seeking of more serene, spacious living environments.
Parkland County Acreage Sales
Parkland County has witnessed a substantial increase in both the number of properties sold and their respective selling prices. A total of 602 properties were sold this year, marking a significant 15.99% increase compared to the 519 properties sold in 2023. This spike in sales volume is a clear indicator of heightened market activity and growing buyer confidence.
In November 2024 alone, there were 49 sold properties, a dramatic 40.00% increase from November 2023. This surge is part of a larger trend observed throughout the year and can be attributed to several factors, including increased marketing efforts, more competitive pricing strategies, and a general uptick in the economy which has bolstered consumer confidence.
Parkland County Acreage Average Sale Price
The average sale price saw a robust increase, climbing to $638,000, which is a 20.39% increase from the previous year’s average of $596,000. These figures underscore the strong investment potential of Parkland County’s acreage properties, with both sellers and buyers seeing significant returns and value appreciation, respectively.
The Average Ask to Sell Ratio, an indicator of how close the final selling price is to the listed asking price, stood at 96.8% for the year. This high ratio is a strong indicator of a seller’s market, where bidding wars and competitive pricing strategies often result in sales prices very close to, or sometimes even above, the asking prices.
Parkland County Acreage Days on Market
The average number of days that properties stayed on the market before being sold was 112 days in 2024, slightly up by 4.67% from 2023. While this might suggest a slight cooling, it actually reflects a more stabilized market where buyers are willing to take the time to find their perfect match in a property, indicating healthy demand and a robust market.
The real estate market in Parkland County has experienced a year of strong growth and optimistic future projections. With an increase in the number of properties sold, a significant rise in property values, and a high sell-to-list ratio, the market dynamics indicate a healthy and thriving environment for both buyers and sellers. As we look forward to 2025, the trends suggest that this growth is not just a temporary spike, but rather a sustainable upward trajectory. For anyone considering investing in real estate, Parkland County presents a compelling opportunity, especially for those looking to buy acreage properties in a market that promises both tranquility and profitability.
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
