Stony Plain Housing Market: Trends and Insights Annual 2024 Statistics

The Stony Plain housing market, has witnessed significant changes in 2024, offering both challenges and opportunities for buyers, sellers, and investors. As the market evolves, understanding the key metrics and trends is essential for making informed decisions. Whether you are looking to buy, sell, or invest in Stony Plain, this blog will dive into the most recent data and market insights to help guide you through the process.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings 

Total Listings and Inventory

In 2024, Stony Plain saw an increase of 6.26% in new property listings, bringing the total number of new listings to 611. This is a significant improvement from 2023, which had 575 new listings. However, compared to 2022 (663 listings), the market has seen a slight decrease of 7.84% in the number of new listings. This decrease may indicate a tightening of the inventory, which could result in increased competition among buyers.

The rise in new listings is likely a response to the growing demand for homes in the area. More listings mean more options for potential buyers, but the reduced number of listings compared to previous years suggests that sellers are holding onto properties longer, waiting for the right price.

Average Asking Price of Homes in Stony Plain

Average List Price: A Rising Trend

One of the most noticeable changes in 2024 is the increase in the average list price. The average price of properties listed in Stony Plain rose by 9.08%, from $377,000 in 2023 to $411,000 in 2024. This is a clear indicator of the demand for homes in the area, as well as the rising value of real estate.

Looking at historical trends, we see that the average list price in 2022 was $373,000, and in 2021 it was $349,000. This shows a steady increase in prices, with a 10.27% increase from 2022 to 2024 and a 17.81% increase from 2021 to 2024. This upward trend in prices suggests that Stony Plain is becoming an increasingly desirable location for buyers, especially as the area continues to grow and develop.

December 2024 Stony Plain Home Sales

Total Sales and Sales Volume

Sales activity in Stony Plain has experienced significant growth in 2024. The total number of sales has increased by 31.61%, rising from 386 sales in 2023 to 508 in 2024. This is a positive sign for the market, as it indicates strong buyer interest and a robust economy.

The total sales volume has also seen an impressive jump, increasing by 41.41% from $136 million in 2023 to $192 million in 2024. This growth reflects not only the increased number of sales but also the higher average sale prices, as discussed earlier.

Interestingly, the number of sales has outpaced the increase in listings, which suggests that demand is currently surpassing supply. This could result in a more competitive market for buyers, with quicker sales and potentially higher sale prices.

Average Home Sale Price

Sales Average Price: Higher Prices Reflect Demand

The average sale price in Stony Plain has increased by 7.45%, from $351,000 in 2023 to $377,000 in 2024. This rise is in line with the increase in list prices and reflects the overall upward trajectory of property values in the area.

When we compare these numbers to previous years, we see that the average sale price in 2022 was $358,000, and in 2021 it was $342,000. This represents a 5.36% increase from 2022 to 2024 and a 10.35% increase from 2021 to 2024. These increases are indicative of a growing demand for homes in Stony Plain, likely driven by factors such as new developments, improved infrastructure, and the area’s proximity to Edmonton.

Average List to Sell Ratio

The average asking-to-selling ratio (LSR) is an important indicator of how close the final sale price is to the original list price. In 2024, the LSR for Stony Plain is 0.988, up from 0.979 in 2023. This increase of 0.94% means that homes are selling for a higher percentage of their asking price, which is a positive sign for sellers.

Historically, the LSR in 2022 was 0.982, and in 2021 it was 0.977, so the market has seen steady growth in this metric over the past few years. A higher LSR is typically a sign of a seller’s market, where demand is high and buyers are willing to meet asking prices.

Average Days on Market

One of the most significant improvements in the Stony Plain housing market is the decrease in the average days on market. In 2024, homes are selling in an average of 53 days, down from 66 days in 2023. This represents a decrease of 19.7%, which is a clear indicator that homes are moving faster in the market.

This reduction in days on market may be attributed to several factors, including increased demand, fewer listings, and higher buyer confidence. With fewer homes on the market, competition for available properties is fiercer, leading to quicker sales.

What This Means for Buyers and Sellers

For buyers, the current market in Stony Plain presents both opportunities and challenges. On one hand, the increase in inventory and sales indicates that there are still options available. However, the rising prices and faster sales mean that you’ll need to act quickly and be prepared for competitive bidding situations.

For sellers, now is an excellent time to list your property. With prices on the rise, homes are selling faster, and sellers are receiving a higher percentage of their asking price. However, it’s essential to price your home strategically to attract the most qualified buyers, especially given the higher competition in the market.

Conclusion

The Stony Plain real estate market was thriving in 2024, with increasing listings, rising prices, and stronger sales numbers. Buyers and sellers alike can benefit from these positive trends, but it’s crucial to stay informed and act quickly in this fast-moving market. Whether you’re buying your first home, selling a property, or investing in real estate, understanding the latest data and trends will help you make the most informed decision.

If you’re considering buying or selling in Stony Plain, contact Christina Reid, REALTOR®, for expert guidance and personalized service.

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 are considering buying or selling a home in Stony Plain or just want more information on the Stony Plain real estate market, CONTACT ME HERE.

Town of Stony Plain Website