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The market of Strathcona County acreage sales has experienced a significant transformation. As we reflect on the data from November 2024, a clear picture emerges: an invigorated market that is swiftly adapting to the changing demands of home buyers and investors alike. This blog post delves into the nuances of Strathcona’s acreage sales, offering insights that are crucial for both potential buyers and current homeowners.
Bar graphs below are interactive
Strathcona County -Acreage Listings
The influx of new listings in November 2024 increased by 52.94%, with 26 new properties hitting the market. This increase in inventory is a positive development, as it provides more options for buyers and helps stabilize prices in a dynamic market environment. Throughout the year, the total number of new listings rose by 14.64% to 603, ensuring a steady supply in response to growing demand.
Average Asking Price Trends
Average Acreage List Price
While the number of sales showed impressive growth, the pricing dynamics offer a mixed view. The average asking price for acreages saw a slight dip of 5.92%, settling at $938,000. Conversely, the year-to-date figures paint a more stable picture, with a modest increase of 2.47% from the previous year, bringing the average asking price to $908,000.
Strathcona County –Acreage Sales
November 2024 marked a period of extraordinary growth in the number of properties sold in rural Strathcona, witnessing a staggering 150% increase compared to November 2023. The total properties sold throughout the year also rose by 30.36%, with 365 properties changing hands, up from 280 the previous year. This surge reflects a robust demand and a thriving market, underscoring the growing allure of spacious, rural living.
Acreage Average Sale Price
While the number of sales showed impressive growth, the pricing dynamics offer a mixed view. The average asking price for acreages saw a slight dip of 5.92%, settling at $938,000. Conversely, the year-to-date figures paint a more stable picture, with a modest increase of 2.47% from the previous year, bringing the average asking price to $908,000.
The average sale price in November 2024 stood at $714,000, marking an 8.78% decrease from November 2023. However, looking at the year-to-date data provides a reason for optimism, as the average sales price saw a 6.02% increase from the previous year, highlighting the long-term value retention and appreciation potential of properties in the area.
The ask-to-sell ratio, an indicator of how close the final sale price is to the listed price, stood at 0.974, improving by 4.23%. This suggests that properties are selling closer to their asking prices, a sign of a healthy market where buyers are willing to meet sellers’ valuations.
Strathcona Acreages Average Days on Market
The efficiency of the market has also improved, with properties spending less time on the market. The average number of days on market until sale was significantly reduced by 47.77%, with properties selling in about 82 days compared to 89 days in the previous year. This increase in market velocity indicates a higher turnover rate, facilitating quicker sales and benefiting both sellers and buyers.
A Year of Dynamic Change and Opportunities
As we analyze the Strathcona acreage sales market, it’s evident that 2024 has been a year of dynamic changes and significant opportunities. The substantial increase in sales volume, combined with the nuanced shifts in pricing and market efficiency, paints a picture of a vibrant and evolving market landscape.
For those considering an investment in the area, the current trends offer promising potential for both short-term gains and long-term prosperity. Rural Strathcona continues to attract a diverse array of buyers, drawn by its natural beauty, spacious properties, and the promise of a serene lifestyle away from urban hustle.
Conclusion
The acreage sales in Strathcona County reflect a robust and adaptable real estate market. With an increasing number of properties sold, a healthy pace of sales, and a market that continues to attract significant interest, the outlook for acreage sales in Strathcona is overwhelmingly positive. Whether you are a potential buyer looking to make a rural move or a seller considering listing your property, the current market conditions are ripe with opportunity.
As we look forward to 2025, the trends established in November 2024 will undoubtedly influence the market’s trajectory. With strategic planning, informed decision-making, and an understanding of the local market dynamics, stakeholders can look forward to a prosperous year in the Strathcona 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.
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.
CONTACT ME HERE with your questions regarding Strathcona County Acreage Sales
