December 2024 Fort Saskatchewan Real Estate Market Statistics

December 2024 Fort Saskatchewan real estate market has shown a remarkable trajectory, with significant gains in key areas such as average sales price, total properties sold, and overall market activity. As we move into December, the market is exhibiting strong trends that reflect both the resilience of the local economy and the evolving preferences of homebuyers. This blog will explore these trends, providing an in-depth analysis of the Fort Saskatchewan real estate market and what buyers and sellers can expect as we close out the year.

Bar Graphs Below Are Interactive

Fort Saskatchewan New MLS® Listings

New Listings: New listings have seen a slight dip. December 2024 had 36 new listings, marking a 10% decrease from the same time last year. However, the YTD numbers for new listings show a 6.75% increase, with 949 new listings compared to 889 last year 

Fort Saskatchewan Average List Price

Fort Saskatchewan Home Sales

Sold Properties: In December 2024 Fort Saskatchewan saw a significant increase in the number of properties sold. With 41 properties sold, this represents a 28.13% increase compared to December 2023. Year-to-date (YTD), there were 780 properties sold, marking a 31.09% increase from the previous year

December 2024 Fort Saskatchewan Average Home Sale Price

Average Sale Price: The average sale price in Fort Saskatchewan saw an impressive jump. For December 2024, the average sale price was $534,000, a 34.77% increase from December 2023. YTD, the average sale price was $447,000, which is a 13.07% increase from the same period last year .

Ask-to-Sell Ratio: The ask-to-sell ratio is a vital indicator of how well homes are priced relative to their final sale price. December 2024 saw an increase in this ratio to 0.984, a modest improvement from 0.981 YTD. This increase indicates that homes in Fort Saskatchewan are selling closer to their asking price .

Real Estate Market Statistics -Average Days on Market

Days on Market Until Sale: Homes are selling faster in Fort Saskatchewan, with properties staying on the market for an average of 54 days in December 2024. This represents a 44.90% decrease from December 2023, when the average was 57 days. The YTD figures also highlight a significant drop, with homes taking 24% less time to sell compared to the previous year .

Factors Driving the Fort Saskatchewan Real Estate Market

Several factors are contributing to the positive momentum in Fort Saskatchewan’s real estate market. Let’s take a closer look at some of the most influential trends:

1. Strong Local Economy

Fort Saskatchewan has benefitted from a growing local economy, which has led to a steady demand for housing. The city’s proximity to major industrial hubs, such as the oil and gas sector, continues to draw in residents looking for more affordable living options outside Edmonton. Fort Saskatchewan offers a desirable alternative for families and professionals seeking more space and a quieter lifestyle while maintaining easy access to urban amenities.

2. Increasing Property Values

As noted in the data, both the average asking price and the average sale price have increased significantly in recent months. This surge is partly due to strong demand combined with limited inventory. The area’s increasing property values reflect the city’s growing appeal to new buyers and investors. People are increasingly recognizing Fort Saskatchewan as a solid investment opportunity, particularly given its affordability compared to Edmonton.

3. Limited Housing Supply

While the number of new listings has decreased slightly in December 2024, the overall housing inventory remains tight. This limited supply, combined with growing demand, has led to quicker sales and higher prices. The market is competitive, and buyers are acting quickly to secure homes before they are gone. The lower number of days on market highlights this trend, as properties are selling faster than in previous years.

4. Affordable Living

One of the biggest draws for buyers in Fort Saskatchewan is the relatively affordable housing market compared to Edmonton and other surrounding areas. While prices have increased, they remain more attainable for first-time homebuyers, growing families, and those looking for more space for their money. The affordability factor continues to make Fort Saskatchewan a desirable location for both buyers and investors looking to enter the real estate market.

5. A Growing Community

Fort Saskatchewan is not just a place to live; it’s a community in growth. The city has seen a rise in amenities, schools, and recreational activities. This continued development fosters a positive atmosphere for families and young professionals looking to plant roots in a welcoming and expanding area.

Predictions for the Fort Saskatchewan Real Estate Market in 2025

As we look ahead to 2025, several trends are likely to shape the Fort Saskatchewan real estate market. Here are a few predictions:

• Continued Price Growth: Given the current demand and limited supply, it’s likely that prices will continue to rise, although at a potentially slower rate. The combination of new listings and the overall market conditions will play a crucial role in determining how quickly prices escalate in the coming months.
• More Competitive Market: With Fort Saskatchewan’s continued popularity and affordability compared to Edmonton, the market will likely remain competitive. Buyers can expect to face competition, particularly in desirable neighbourhoods with limited inventory.
• Development and Expansion: The city’s continued growth means there will be more opportunities for new construction and development. Buyers can expect more new homes and subdivisions coming to market in the coming year, providing a wider selection of properties.
• Investment Opportunities: Investors will continue to view Fort Saskatchewan as a prime area for purchasing properties. The city’s consistent demand and relative affordability make it an appealing market for those looking to purchase rental properties or flip homes.

Conclusion

The Fort Saskatchewan real estate market has proven to be resilient and dynamic through 2024, showing impressive growth in key areas such as sales volume, average prices, and days on market. For both buyers and sellers, this is a great time to take advantage of the opportunities the market presents. As we head into 2025, the continued expansion of the local economy and community, coupled with affordable housing prices, will keep Fort Saskatchewan an attractive place for homebuyers, investors, and families alike.

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. 

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City of Fort Saskatchewan Website