Spruce Grove Real Estate Market: March 2025 Update

The Spruce Grove real estate market in 2025 promises to be an exciting year with key shifts in the market that could benefit both buyers and sellers. In this blog, we’ll explore the latest trends, average prices, and predictions for the upcoming months, drawing from the March 2025 data. Whether you’re looking to invest in Spruce Grove or find your dream home, this post will help you stay informed about the local real estate market.

As of March 2025, Spruce Grove’s real estate market has seen steady growth compared to the previous year. The number of sold properties and the average sales price have increased, indicating that Spruce Grove continues to be a desirable place for homebuyers.

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New MLS® Listing Count

While the number of new listings has seen a slight decline, with 148 properties listed in March 2025 (a 9.2% drop from last year), the total number of new listings year-to-date (YTD) remains relatively stable with just a 0.76% increase (398 listings in 2025 vs. 395 listings in 2024). The slight drop in new listings could suggest that sellers are holding back in anticipation of higher prices, creating a competitive environment for buyers.

Average Listing Price in Spruce Grove

The average asking price in March 2025 was $504,000, reflecting an 8.77% increase over the previous year. YTD, the average asking price rose by 15.55%, reaching $516,000 in 2025 compared to $447,000 in 2024. This substantial increase indicates that the demand for homes in Spruce Grove is outpacing supply, pushing prices higher.

Home Sales Spruce Grove

In March 2025, 116 properties were sold, marking a 5.45% increase over the previous year. This shows that more buyers are entering the market, making it a great time for sellers to list their homes. Year-to-date (YTD), there have been 265 properties sold, a 5.58% increase compared to the same period in 2024. This steady increase in sales suggests a positive outlook for the remainder of the year.

Spruce Grove Average Home Sale Price

The average sale price in March 2025 was $476,000, a 14.22% increase from March 2024. Over the course of the year, the YTD average sale price has risen by 19.09%, indicating the strong upward trajectory of home values in Spruce Grove. This is a clear signal for homebuyers to act quickly if they wish to secure a property before prices rise further.

Average Ask to Sell Ratio:
The average ask to sell ratio in March 2025 was 1.000, meaning homes are selling close to their asking price. This is a strong indicator of a seller’s market where demand is driving sale prices to meet asking levels. In 2024, this ratio was slightly lower at 0.987, but the rise to 1.000 shows that buyers are willing to pay asking prices to secure properties in this competitive market.

Days on Market Until Sale

The days on market until sale have significantly decreased, dropping by 42.65% year-to-date. In March 2025, properties sold in an average of 39 days, compared to 57 days in March 2024. This quick turnover highlights the high demand for homes in Spruce Grove and the fact that sellers are getting offers faster, particularly in this competitive market.

Why Spruce Grove is a Strong Real Estate Market

Spruce Grove, located just outside of Edmonton, has long been known for its family-friendly atmosphere, excellent schools, and close proximity to major amenities. The city’s growth over the past decade has led to increased interest in the real estate market. Whether you’re looking for a single-family home, townhouse, or acreage, Spruce Grove offers a variety of housing options that meet the needs of diverse buyers.

Proximity to Edmonton:
One of the key drivers of Spruce Grove’s real estate market is its proximity to Edmonton, Alberta’s capital. Homebuyers are drawn to the area because it offers a more affordable living option while still providing easy access to Edmonton’s employment, shopping, and entertainment hubs. This has led to an influx of people relocating to Spruce Grove for its suburban charm combined with city conveniences.

Expanding Amenities:
Spruce Grove continues to invest in its infrastructure, including new parks, schools, and shopping centres. The city’s growth is driving demand for homes as new residents look for modern amenities and conveniences in a family-oriented environment. These developments make Spruce Grove an attractive option for buyers seeking a high quality of life at a more affordable price than what is available in Edmonton.

Community Appeal:
Spruce Grove is known for its strong sense of community. The city hosts events throughout the year, including farmers’ markets, outdoor concerts, and festivals that attract both residents and visitors. This vibrant community spirit makes Spruce Grove an ideal location for families, retirees, and anyone seeking a welcoming place to live.

What Does This Mean for Buyers?

For prospective homebuyers in Spruce Grove, it’s important to understand the current dynamics of the market. The increase in home prices and the decrease in days on market mean that competition for available homes is fierce. Buyers will need to act quickly when they find the right property.

Tips for Buyers:

1. Get Pre-Approved: In a market with rising prices and competitive bidding, being pre-approved for a mortgage will give you an edge over other buyers. Sellers are more likely to accept an offer from a buyer who is financially ready to make a deal.
2. Stay Informed: Keep a close eye on new listings and market trends. With the average days on market dropping significantly, homes are selling quickly. Consider setting up alerts on real estate websites to be notified as soon as new properties that meet your criteria hit the market.
3. Work with a Local Realtor: A realtor who knows the Spruce Grove market will have valuable insights and help you navigate the competitive environment. They can help you negotiate terms and ensure you’re making an informed decision.

What Does This Mean for Sellers?

For homeowners thinking about selling in Spruce Grove, the market conditions are currently favorable. With higher average sale prices and a quick turnaround on homes, this is a great time to list.

Tips for Sellers:

1. Price Strategically: While home prices have increased, it’s important to price your home competitively. Homes in Spruce Grove are selling close to asking prices, but overpricing could lead to your listing sitting on the market longer than necessary. Work with a realtor to set a competitive price.
2. Stage Your Home: Buyers in this market are looking for homes that are move-in ready. Staging your home, including minor repairs and aesthetic improvements, can make your listing more attractive and lead to a quicker sale.
3. Be Prepared for Multiple Offers: In a seller’s market, you might receive multiple offers. Be ready to review and compare offers carefully. A realtor can help you evaluate offers based on terms, contingencies, and closing flexibility.

Future Outlook for Spruce Grove Real Estate

Looking ahead, the Spruce Grove real estate market is expected to continue its upward trend. With steady population growth and infrastructure investments, demand for housing will remain strong. However, it’s crucial for both buyers and sellers to stay flexible and adjust to the dynamics of the market.

As interest rates and the economy evolve, homebuyers should keep an eye on potential shifts that could impact their purchasing power. Similarly, sellers should be prepared for ongoing market fluctuations but can remain confident that the demand for homes in Spruce Grove is likely to stay strong.

Conclusion:

Spruce Grove’s real estate market in 2025 is an exciting and competitive space. With increasing sales prices, a decrease in the time homes spend on the market, and a steady increase in the number of sold properties, it’s clear that Spruce Grove remains a hot spot for homebuyers and investors alike. Whether you’re looking to buy or sell, understanding these trends and preparing accordingly will help you succeed in this dynamic market.

For anyone looking to buy, sell, or invest in Spruce Grove, working with an experienced local REALTOR® is essential. An expert can provide valuable insights, help navigate the intricacies of the market, and ensure that all transactions go smoothly.

For more information on buying or selling in Spruce Grove CONTACT CHRIS REID