Devon Real Estate Market Update: April 2025

As the Devon real estate market continues to evolve, both buyers and sellers need to stay updated on the latest trends and market conditions. In this blog, we’ll dive deep into the current real estate market in Devon, offering insights into property values, sales trends, and what buyers and sellers can expect in the coming months.

Devon, Alberta, is a picturesque community located just outside Edmonton, offering the perfect mix of small-town charm and easy access to the city’s amenities.

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Devon New  MLS® Listings

There were 18 new listings in April 2025, representing a 21.74% decrease from 23 new listings in April 2024. However, when comparing year-to-date figures, there has been a slight decrease of 9.26%, with 49 new listings in 2025 compared to 54 listings in 2024. This reduction in new listings can indicate a tightening market, with fewer homes available for sale compared to previous years.

Average List Price

The average asking price for homes in Devon has seen a notable increase. In April 2025, the average asking price was $474K, reflecting an 18.97% rise compared to April 2024. The YTD average asking price in 2025 stands at $533K, a substantial 25.14% increase from 2024’s $426K. This upward trend in asking prices suggests that homes in Devon are becoming more valuable, driven by rising demand and a competitive market.

Devon Home Sales

In April 2025, there were 10 sold properties in Devon, representing a 23.08% decrease from the 13 sold properties in April 2024. Despite this decrease in monthly sales, the year-to-date (YTD) figures show a modest 5.26% increase, with 40 properties sold in the first few months of 2025 compared to 38 in 2024.

Average Sale Price

The average sale price in Devon has decreased slightly over the past year. In April 2025, the average sale price stood at $410K, reflecting a 5.29% decrease from April 2024. The year-to-date average sale price is $407K, down 5.99% from 2024’s $433K. Despite the overall decline in the sale price, the gap between the asking price and sale price remains narrow, indicating that sellers are achieving close to their asking prices.

Ask-to-Sell Ratio:
The average ask-to-sell ratio for properties in Devon in April 2025 was 1.004, a slight increase of 1.03% from 2024. This indicates that, on average, homes in Devon are selling for slightly more than their initial asking price. The increase in this ratio over the year suggests a competitive market where buyers are willing to pay a little extra to secure a property.

Average Days on Market

One of the most important metrics for understanding the health of a real estate market is how quickly homes sell. In Devon, properties are selling faster in 2025. The average number of days on the market in April 2025 was 16, a significant 54.29% decrease compared to 39 days in April 2024. Year-to-date, properties are selling in an average of 22% fewer days than in 2024, highlighting the increasing demand for homes in Devon.

What’s Driving the Devon Real Estate Market in 2025?

Several factors contribute to the ongoing developments in Devon’s real estate market, from rising property values to increased demand for homes. Here are a few key influences:

1. Affordability Compared to Edmonton:
   One of the most attractive features of Devon for homebuyers is its affordability. Compared to Edmonton, which has seen higher property prices due to its large urban population, Devon remains a more affordable option for those looking to buy a home. With an average sale price of $410K, Devon offers more value for money, especially when considering the proximity to Edmonton and its amenities.
2. Family-Friendly Community:
   Devon’s small-town charm, combined with its well-established infrastructure, makes it a desirable place for families. The town offers excellent schools, parks, recreational facilities, and a low crime rate, which appeals to parents seeking a safe and supportive environment to raise their children.
3. Natural Beauty and Outdoor Activities:
   Devon is known for its stunning natural surroundings, including the North Saskatchewan River and an abundance of green spaces and parks. Outdoor enthusiasts appreciate the numerous walking trails, bike paths, and recreational areas, making Devon an appealing place for those who enjoy nature and outdoor activities. This lifestyle appeal is attracting more buyers to the area, especially those seeking a peaceful retreat just outside the hustle and bustle of Edmonton.
4. Proximity to Edmonton:
   Devon’s location just 30 minutes from downtown Edmonton makes it an ideal location for people who work in the city but prefer to live in a quieter, more affordable setting. Devon provides residents with easy access to major highways, public transit, and the Edmonton International Airport, making it convenient for commuters and those who need to travel frequently.

Devon’s Housing Market for Buyers

For buyers, Devon offers a variety of housing options, from entry-level homes to more luxurious properties. Here are a few things to keep in mind when purchasing in Devon:

1. Be Prepared for a Competitive Market:
   With the average days on market declining and properties selling faster than in the previous year, buyers need to act quickly when they find a home they like. Homes are selling for slightly above the asking price, which means that being prepared to make an offer quickly can give you an advantage.
2. Focus on Homes That Meet Your Long-Term Needs:
   Devon’s real estate market has shown steady growth over the years, making it an ideal location for long-term investment. When purchasing a home in Devon, it’s important to think about your long-term needs, such as proximity to schools, work, and recreational facilities, as well as future resale value.
3. Consider the Impact of New Listings:
   While the number of new listings has decreased slightly, the competition for available properties remains high. Buyers should keep an eye on the latest listings and be prepared to make quick decisions. Working with an experienced local agent can help you stay informed about new properties coming on the market.

Devon’s Housing Market for Sellers

For sellers, Devon continues to be a competitive market, with homes selling quickly and at favourable prices. Here are a few tips for sellers looking to list their property in Devon:

1. Price Your Home Right:
   Devon’s market has seen a steady rise in asking prices, with a significant year-over-year increase in average asking prices. Sellers should work with their real estate agent to price their home competitively to attract buyers while still maximizing their return.
2. Stage Your Home for Success:
   Homes are selling more quickly in 2025, so it’s crucial to make a strong first impression. Staging your home and making necessary repairs or upgrades can help it stand out in the market and attract more potential buyers.
3. Leverage the Market Conditions:
   With properties selling faster and for slightly more than their asking price, sellers in Devon are in a favourable position. Be sure to take advantage of this competitive environment by listing your home at the right time and with the right strategy.

Conclusion

The Devon real estate market is evolving, with steady growth in asking prices and a high demand for homes. While the number of sold properties has decreased slightly, the market remains active, offering both opportunities for buyers and sellers. With its affordable homes, family-friendly environment, and proximity to Edmonton, Devon continues to be a great place to live, work, and invest in real estate.

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 the Devon real estate market contact Chris Reid

Town of Devon Website