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Strathcona County Real Estate Market: A 2024 Review
Strathcona County real estate has become an increasingly sought-after market. A sprawling area to the southeast of Edmonton, is a desirable location for those looking for a rural escape while staying close to urban amenities. With its abundance of acreages, beautiful landscapes, and proximity to the city. This blog provides a comprehensive look into the Strathcona County real estate market in 2024, using the latest statistics to give buyers and sellers a clearer understanding of the market dynamics.
2024 Market Overview
The Strathcona County real estate market has seen notable shifts in key metrics over the past year. When comparing 2024 to 2023, the market shows a mix of price increases, higher listing activity, and a boost in sales. Let’s take a closer look at some key trends that have defined the market in 2024.
Bar graphs below are interactive
Strathcona County -Acreage Listings
Listings and Inventory
In 2024, Strathcona County saw a 10.83% increase in the number of new listings, rising from 554 properties in 2023 to 614 properties listed in 2024. While the increase in listings indicates a more active market, it also shows that sellers are responding to the rising demand in the area. However, when comparing 2024 to the past few years, there was a 4.51% decrease in new listings compared to 2022, and a more significant 9.84% decrease compared to 2021. This could suggest a market correction after the surge in listings in earlier years.
Strathcona County – Average Acreage List Price
The average list price for properties in Strathcona County increased by 2.04%, rising from $886,000 in 2023 to $904,000 in 2024. This increase follows a trend of rising property values in the area, marking a 13.45% increase from 2021. This upward trajectory is reflective of growing demand for larger properties, particularly those on acreages, as more buyers seek rural living with modern conveniences. Despite this increase, the average list price has remained relatively steady compared to 2022, showing only a 3.10% growth.
Total Inventory Cost
The total cost of listed inventory in Strathcona County saw a notable increase of 13.10%, reaching $555 million in 2024. This marks a significant shift from $491 million in 2023. However, it’s worth noting that this increase comes after a slight decrease of 1.55% from 2022, and an increase of 2.29% when compared to 2021. Higher total inventory costs are consistent with higher listing prices and the increased demand for premium properties, particularly larger estates and acreages.
Strathcona County –Acreage Sales
The total number of sales in Strathcona County saw a remarkable increase of 30.24% in 2024. From 291 sales in 2023, the number jumped to 379 sales in 2024. This uptick is a positive sign for the market, as more buyers are finding their way to Strathcona County. The sales volume increase can also be attributed to the strong demand for rural properties with space for larger homes and outdoor amenities. Despite the growth from 2023, sales are down 20.88% compared to 2021, a sign that the market is stabilizing after the surge seen during the pandemic.
Strathcona County Real Estate Market –Acreage Average Sales Price
The Strathcona County Acreage Market: Pricing Trends
Average Sales Price
In 2024, the average sale price for properties in Strathcona County reached $756,000, reflecting a 6.22% increase from 2023. This growth in sales price is indicative of a market that has been experiencing upward pressure due to high demand and a lack of sufficient inventory. The price increase is further evidenced when comparing 2024 to previous years, showing an 11.52% rise from 2021, where the average sale price was $678,000.
List-to-Sell Ratio
The average list-to-sell ratio (LSR) in 2024 stands at 0.968, which is slightly down from 0.969 in 2023. However, the decrease is minimal, indicating that properties are still selling close to their asking prices. This suggests that the market remains competitive, with buyers willing to pay near the listing price for properties that meet their needs. When comparing 2024 to earlier years, the LSR is slightly lower than in 2022, where it stood at 0.979.
Strathcona County Acreage Average Days on Market
Properties in Strathcona County are selling faster in 2024, with the average days on market (DOM) decreasing by 4.49%, from 89 days in 2023 to 85 days in 2024. The decrease in DOM indicates a quicker turnover, likely driven by higher buyer demand. Compared to 2021, when properties sat on the market for an average of 94 days, the current market is showing positive signs of faster transactions, which is attractive for both sellers and buyers.
The Outlook for 2025 and Beyond
As we move through 2025, Strathcona County’s real estate market is showing signs of steady growth. The increased number of listings and the upward trend in both listing prices and sales volumes highlight a healthy and competitive market. Buyers are finding that Strathcona County offers an excellent mix of rural charm and proximity to Edmonton’s amenities, making it an attractive location for families, professionals, and those looking for a more peaceful lifestyle.
While the increase in sales is a positive sign, the decrease in total sales volume when compared to 2021 may indicate that the market has cooled slightly after the frenzy of previous years. Nonetheless, with the average days on market decreasing and properties selling close to their asking prices, it’s clear that demand remains high, and the market remains competitive.
For buyers looking for rural properties in Strathcona County, the market in 2025 presents a great opportunity, with a variety of options available across different price ranges. Sellers, on the other hand, can expect competitive offers and relatively quick sales, especially if they price their homes correctly.
Conclusion
The Strathcona County real estate market in 2024 has seen significant growth in listings, sales, and prices, making it a vibrant and dynamic market. Whether you’re a buyer or a seller, understanding the trends in this market is essential for making informed decisions. With a rise in property values, increased demand for acreage properties, and faster sales, Strathcona County is poised for continued growth and success in the real estate sector.
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.
