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St. Albert Real Estate Market Statistics – June 2024
The St. Albert real estate market statistics so far in 2024 showcases significant growth in sold properties and average sale prices. Indicating a robust and attractive market for buyers and investors alike. The consistent rise in property values, coupled with a decrease in days on market, highlights a competitive and dynamic environment. With steady new listings and properties selling close to their asking prices, St. Albert continues to be a promising location for real estate investment.
Bar Graphs Below Are Interactive
St. Albert New Listing Count
The number of new listings is a critical factor in understanding market supply. In June 2024, there were 192 new listings, a 3.52% decrease from the previous month. Despite this monthly dip, the overall supply of properties remains robust. For the YTD 2024, there were 1055 new listings, a marginal increase of 0.67% compared to 2023. This steady flow of new listings ensures that buyers have a variety of options, maintaining the dynamism of the market.
St. Albert – Average List Price
The average asking price in St. Albert real estate market statistics provide insight into seller expectations and market confidence. For June 2024, the average asking price was $550K, which is a 1.43% decrease from the previous month. However, the YTD average asking price showed a slight increase of 0.67% compared to 2023, standing at $540K. This stability in asking prices, despite minor fluctuations, indicates a balanced market where sellers are optimistic about the value of their properties.
St. Albert Home Sales
The St. Albert real estate market statistics so far in 2024 has experienced significant growth in the number of sold properties. As of June 2024, there were 182 sold properties, marking a 22.15% increase from June 2023. Year-to-date (YTD) 2024, the total number of sold properties was 782, which is a 20.87% increase from the same period in 2023. This upward trend indicates a strong demand for properties in St. Albert, reflecting a vibrant and active market.
St. Albert Average Sale Price of Homes
The average sales price in St. Albert has also seen a steady increase. In June 2024, the average sales price was $499K, a 1.86% increase from June 2023. For the YTD 2024, the average sales price was $500K, representing a 7.80% increase from 2023. These figures suggest that not only is there an increase in the number of transactions, but property values are also appreciating, making St. Albert an attractive location for both buyers and investors.
The average ask to sell ratio compares the final sale price to the original asking price. For YTD 2024, the ratio was 0.997, slightly higher than 0.982 in 2023. This small increase suggests that properties are selling very close to their asking prices, reflecting a balanced market where buyer and seller expectations are closely aligned.
St. Albert Days on MLS®
The average days on market (DOM) is a measure of how quickly properties are selling. In 2024, the YTD average DOM was 40 days, a 14.89% decrease from 2023. This reduction in DOM indicates that properties are selling faster, likely due to high demand and competitive pricing. A lower DOM generally points to a seller’s market, where buyers must act quickly to secure their desired properties.
Monthly Sales Analysis
January to June 2024
- January: The average sale price was $413K, reflecting the seasonal market slowdown often seen in the winter months.
- February: A slight increase brought the average sale price to $442K.
- March: Continued growth with the average sale price reaching $457K.
- April: The market saw a significant jump with the average sale price hitting $481K.
- May: Consistent growth with the average sale price at $488K.
- June: The average sale price stabilized at $499K, maintaining the positive trend from earlier months.
Year-over-Year Comparison
Comparing 2023 to 2024, there has been a clear upward trend in both the number of sold properties and the average sale prices. The significant increases in YTD figures highlight the growing popularity and investment potential of St. Albert. With 782 sold properties and an average sale price of $500K YTD 2024, the market shows strong resilience and growth.
Conclusion
The St. Albert real estate market statistics show 2024 is characterized by robust growth in both the number of transactions and property values. With a significant increase in sold properties and rising average sale prices, the market reflects strong demand and a healthy investment environment. The reduction in days on market further underscores the competitive nature of the market, where properties are selling quickly and close to their asking prices.
For potential buyers and investors, St. Albert offers a promising market with appreciating property values and a variety of new listings. Sellers can take confidence in the quick turnaround times and the stable average asking prices. Overall, the St. Albert real estate market in 2024 presents a dynamic and attractive opportunity for all stakeholders.
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.
Interested in buying or selling in the St. Albert real estate market CONTACT CHRIS REID
