2024 Fort Saskatchewan Real Estate Market Overview

The 2024 Fort Saskatchewan real estate market witnessed growth in several key areas, including sales, listings, and average sale prices.

Bar Graphs Below Are Interactive

Fort Saskatchewan New MLS® Listings

In 2024, the total number of properties listed increased by 6.75% compared to 2023, rising from 889 listings in 2023 to 949 in 2024 . This growth in listings indicates that the market is active, with more properties available for buyers looking to purchase homes.

Inventory Costs: A Marked Increase

Fort Saskatchewan’s total inventory cost has also experienced a significant rise. In 2024, the total cost of listed properties reached $459M, which is a 21.4% increase from the $378M recorded in 2023 . This surge in inventory cost highlights the growing value of properties in the area, and it is indicative of the increased price tags on homes and land. With a higher cost of inventory, sellers may be more inclined to hold out for better offers, further contributing to the competitive nature of the market.

Comparing inventory costs to previous years shows that the market has become more expensive across the board. From 2021 to 2024, inventory costs have risen by 16.23% , emphasizing the ongoing price appreciation in the Fort Saskatchewan market.

Average Asking Price

Fort Saskatchewan Home Sales

Fort Saskatchewan saw a 31.09% increase in the total number of sales, with 780 properties sold in 2024, compared to 595 in 2023 . This surge in sales reflects a strong demand for properties in the area, suggesting that buyers are eager to purchase despite rising prices and a competitive market.

Total Sales Volume: A Remarkable Surge

The total volume of sales in Fort Saskatchewan has seen a remarkable increase of 48.23%, jumping from $235M in 2023 to $349M in 2024 . This substantial rise in sales volume further illustrates the strong market demand and the willingness of buyers to make purchases despite higher prices.

This increase in total sales volume has been consistent over the past few years, as it also marks a 23.42% increase from 2022 and an 18.09% increase compared to 2021 . This trend points to a healthy and robust market, with buyers and sellers continuing to engage at higher levels than in previous years.

2024 Fort Saskatchewan Average Home Sale Price

Sales Average Price: Consistent Growth

In line with the increases in list prices and inventory costs, the average sale price in Fort Saskatchewan also grew in 2024. The average sale price reached $447K in 2024, up by 13.07% from $396K in 2023 . This increase reflects the growing demand for homes in the area, as well as rising construction and material costs that contribute to higher home prices.

The average sale price has steadily increased over the past few years. From 2022 to 2024, the average sale price has risen by 11.71% . Similarly, compared to 2021, prices have gone up by 16.58%, highlighting a consistent upward trend in property values.

Average List-to-Sell Ratio: A Positive Trend

The average list-to-sell ratio (LSR) in Fort Saskatchewan for 2024 was 0.992, which means that properties sold at almost their full asking price . This represents a 1.09% increase from 2023, where the average LSR was 0.981. The fact that properties are selling for nearly their list price is a positive indicator of the market’s strength and suggests that buyers are finding value at current price points.

This positive trend in the list-to-sell ratio has been consistent in recent years, with small increases each year. In 2022, the LSR was 0.988 , reflecting an overall stable and healthy market with competitive offers from buyers.

Average Days on MLS®

Average Days on Market: A Decrease in Time

One of the most noteworthy changes in 2024 was the decrease in the average number of days on the market for properties. In 2023, the average days on market (DOM) was 75, but this figure decreased by 24.00% in 2024, with an average DOM of just 57 days . This decrease suggests that properties are selling faster, which is often a sign of high demand and a competitive environment.

Compared to previous years, the DOM for 2024 is lower than in 2022, where it stood at 53 days . This shows that while properties are selling more quickly, they are not necessarily selling at a faster rate than in some previous years. Nonetheless, the decreased time on the market highlights the overall high demand in the area.

A Strong Market for Buyers and Sellers

The Fort Saskatchewan real estate market in 2024 is showing robust growth across several key indicators. From the increase in listings and sales to the rising average prices and sales volumes, it’s clear that Fort Saskatchewan is a thriving market. The demand for properties is strong, and with shorter times on the market and properties often selling at close to asking prices, it remains a competitive environment for buyers and sellers alike.

Whether you’re a buyer looking for a new home or an investor interested in property in Fort Saskatchewan, the data from 2024 suggests that now is a great time to enter the market. The increase in prices and sales volume points to a healthy, dynamic market, and for sellers, there are many opportunities to secure a great price for your property.

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