December 2024 Parkland County Real Estate Acreage Sales Statistics

December 2024 Parkland County Real Estate Acreage Sales Statistics

December 2024 Parkland County, several trends and statistics provide valuable insights into the current state of the market for those interested in purchasing acreage properties. Parkland county is located in the heart of Alberta, is an area that blends rural charm with proximity to the city of Edmonton, making it an appealing choice for those looking for larger plots of land, tranquility, and the freedom to build their ideal home.

Parkland County: An Overview

Parkland County is a growing rural region situated just west of Edmonton. It spans over 2,500 square kilometres and offers a variety of landscapes, from lakes and forests to open fields, making it a popular choice for people looking to buy large properties away from the hustle and bustle of the city. The county is especially attractive to those seeking acreages, equestrian properties, or homes with extensive yards and personal space. The region’s close proximity to Edmonton also offers the perfect balance of seclusion and accessibility to urban amenities.

Below Graphs Are Interactive

Parkland County Acreage Listings

Market Activity: Listings 

When it comes to new listings, 2024 has seen a slight decline. There were 19 new listings in December 2024, a significant 34.48% decrease from the previous year. However, looking at the entire year-to-date, the market saw 1,016 new listings, which is just a 3.61% decrease from 2023.

Average List Price

In terms of pricing, the average asking price for properties in Parkland County has seen some fluctuations. As of December 2024, the average asking price was $678,000, marking a 6.03% decrease from the previous year. Despite this drop, the overall trend for the year shows that the average asking price for acreage properties has risen significantly. The YTD asking price in 2024 is $717,000, which is an 11.95% increase compared to 2023.

Parkland County Acreage Sales

Real Estate Activity: Sold Properties in 2024

The rural Parkland County acreage market has seen significant changes in 2024. Looking at the data, the number of sold properties has experienced a marked increase. In December 2024, there were 30 properties sold, a 20% increase from the same month in 2023. This uptick in sales highlights a growing demand for acreage properties in the region.

For the year-to-date (YTD) period in 2024, a total of 632 properties were sold, representing a 16.18% increase from the 544 properties sold in 2023. This continued rise in sales volume suggests that more buyers are seeking rural properties and acreages in Parkland County, as the trend for rural living continues to gain momentum.

December 2024 Parkland County Average Sale Price

Price Trends: What Buyers Are Paying

The average sale price, however, reflects a slight dip, standing at $575,000 in December 2024, a decrease of 7.11% from December 2023. The YTD sale price for 2024 was $595,000, indicating an 8.13% increase compared to 2023. These figures suggest that while there has been some price fluctuation, the general trajectory of acreage prices is upward, reflecting a growing demand for rural properties in Parkland County.

The Average Ask-to-Sell Ratio: A Positive Outlook

One of the most encouraging indicators for sellers in Parkland County is the ask-to-sell ratio. In December 2024, this ratio was 0.963, reflecting a 1.71% increase from the same month in 2023. This suggests that, on average, sellers are getting closer to their asking prices, which is a sign of a healthy market. The YTD ratio stands at 0.971 in 2024, which is a 1% increase from 0.962 in 2023, further reinforcing the trend that sellers are seeing success in meeting their pricing expectations.

Parkland County Acreage Days on Market

The days on market until sale also reveal interesting insights. In December 2024, properties were on the market for an average of 119 days, a decrease of 11.85% from the previous year. YTD data shows a slight increase in days on the market, up to 122 days in 2024 from 105 days in 2023, a 16.19% increase. This suggests that while properties are still selling relatively quickly compared to the previous year, the market is experiencing some slower sales, likely due to a more competitive market or potential buyers taking their time with significant decisions about acreage purchases.

What’s Driving Demand in the Parkland County Market?

Several factors are contributing to the growing interest in rural acreage properties in Parkland County. These include:

1. Desire for More Space: After the global pandemic, many buyers are prioritizing larger properties that offer more space for personal enjoyment and outdoor activities. Parkland County offers generous acreages, giving residents the space to grow their own gardens, build workshops or barns, and have privacy that can’t be found in urban settings.
2. Proximity to Edmonton: While Parkland County offers a rural setting, it is only a short drive from Edmonton, making it an ideal location for people who want to enjoy the benefits of both city and country living. Buyers can commute to work, access shopping, dining, and cultural activities, while retreating to the peace and quiet of rural life at the end of the day.
3. Affordability: Acreage properties in Parkland County, compared to other regions in the Edmonton Metropolitan Area, tend to be more affordable. This makes it an attractive option for those who might find land prices in nearby municipalities prohibitive.
4. Outdoor Recreation Opportunities: With its natural landscapes, lakes, and wildlife, Parkland County offers numerous recreational opportunities such as hiking, boating, and horseback riding. These amenities are appealing to individuals looking to enjoy a more active lifestyle.
5. Growing Families and Retirement Buyers: As younger families look for larger homes and older buyers seek peaceful retirements, Parkland County has become a desirable destination for both demographics. Acreage properties offer the peace and quiet that retirees long for while providing the space and flexibility that growing families need.

Challenges and Considerations for Buyers

While the Parkland County acreage market is strong, there are also some challenges and considerations that potential buyers should keep in mind:

• Property Maintenance: Acreage properties often require more maintenance than urban homes. Buyers should be prepared for tasks such as maintaining septic systems, wells, and large yards.
• Access to Services: While Parkland County is close to Edmonton, some rural properties may lack immediate access to municipal services like garbage collection and public transportation. Buyers should assess the accessibility of utilities and services before purchasing.
• Zoning and Regulations: It is essential for buyers to be aware of zoning laws and local building codes, particularly if they plan to develop or subdivide their acreage. Working with a real estate agent knowledgeable about the county’s regulations is crucial.

Outlook for 2025 and Beyond

Looking ahead, the real estate market in Parkland County is expected to remain stable, with steady demand for rural acreages. Although there may be some price adjustments and shifts in market conditions, the growing trend of urban-to-rural migration is likely to continue. With its appealing mix of rural living and proximity to Edmonton, Parkland County will likely continue to attract buyers seeking larger properties for various purposes.

Conclusion

December 2024 Parkland County real estate market shows a continued rise in demand for acreage properties, with higher sales volumes and increasing average prices year-over-year. While there are fluctuations in pricing and days on the market, the overall market remains strong, and buyers are increasingly looking for the rural charm that this area offers. Whether you’re looking for a peaceful retreat, more space for your family, or an investment opportunity, Parkland County offers an attractive range of properties that meet diverse needs.

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

Parkland County Website