St. Albert Real Estate Market Statistics – September 2024

As the St. Albert real estate market continues to show dynamic changes, understanding the latest statistics and trends is essential for anyone looking to buy, sell, or invest in the area. With its family-friendly neighbourhoods, excellent amenities, and strong property demand, St. Albert has established itself as one of Alberta’s key real estate markets. This blog breaks down the most recent data, covering everything from the average sale price and days on market to the shift in sold properties.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

September 2024 New Listings: St. Albert’s market recorded 150 new listings in September, which represents a decrease of 16.20% compared to the previous year.

Year-to-Date (YTD) New Listings: For 2024, 1,570 new listings have been posted, showing a 1.03% increase over the 1,554 listings in 2023. This slight increase in inventory helps balance the market, though the decrease in new listings as of September suggests an ongoing inventory squeeze, making available properties more competitive.

St. Albert Real Estate- Average List Price

Current Average Asking Price: In 2024, the average asking price for properties in St. Albert real estate market stands at $549K, which represents a 2.44% increase from 2023’s average of $537K.

Yearly Comparison: Since 2023, there’s been a 5.83% rise from $507K, showing a consistent upward trend in seller expectations and indicating a market that continues to gain value.

St. Albert Home Sales

September 2024 Sales: There were 103 properties sold, a 3.74% decrease from the 107 properties sold in September 2023. This slight decrease suggests minor seasonal fluctuations.

Year-to-Date (YTD) Sales: Sales volume reached 1,213 properties in 2024, marking a significant 23.65% increase compared to 981 sales during the same period in 2023. This substantial growth underscores the market’s appeal and a high buyer demand driven by St. Albert’s quality of life and proximity to Edmonton.

St. Albert Average Sale Price of Homes

September 2024 Sales Price: The average sale price in September 2024 hit $510K, showing an impressive 14.85% jump from September 2023’s average of $444K.

Year-to-Date (YTD) Average Sale Price: So far, the YTD average sale price in 2024 is $499K, up by 8.36% from $461K in 2023. This increase highlights the growth in property values across St. Albert, making it a lucrative area for investment.

Ask-to-Sell Ratio in 2024: Currently, the average ask-to-sell ratio is 0.997, a 1.95% increase from last year. This statistic shows that sellers are close to achieving their asking prices, an encouraging sign for those listing homes in St. Albert. For buyers, it suggests a need for competitive offers, especially in high-demand neighbourhoods.

St. Albert Housing Market Days on MLS®

In September, properties averaged 44 days on the market, a 32.31% reduction from the previous year. The shorter days-on-market statistic points to strong buyer demand, with properties being snapped up quickly. A quick sale turnaround time also indicates high competitiveness, meaning buyers should act quickly once they find a suitable property.

Key Factors Fuelling St. Albert’s Real Estate Market Growth

Several unique factors continue to make St. Albert an attractive market:

1. Proximity to Edmonton: Located just a short drive from Edmonton, St. Albert offers residents the best of both worlds—an accessible urban job market combined with a serene, suburban atmosphere.
2. Top-Tier Amenities and Schools: Families are drawn to St. Albert for its highly-rated schools, parks, healthcare facilities, and shopping centres, which all contribute to the area’s high quality of life.
3. Increasing Property Values: With both average asking and sale prices on the rise, homeowners and investors are witnessing steady property appreciation, which bodes well for long-term financial gains.
4. Low Inventory Levels: The slight decrease in new listings suggests a tight inventory, pushing prices up as demand continues to outpace supply.

St. Albert Housing Market: What Buyers Need to Know

For buyers looking to enter the St. Albert market, it’s essential to understand the current landscape:

1. Expect Competitive Bidding: With a high ask-to-sell ratio, competitive bidding is common, especially in popular neighbourhoods like Oakmont and Erin Ridge.
2. Get a Pre-Approval: To secure a property quickly in this fast-paced market, buyers should obtain mortgage pre-approval to increase their purchasing power.
3. Plan for Slightly Higher Budgets: Given the rise in both average asking and sale prices, setting a slightly higher budget could help buyers target properties within St. Albert’s main residential areas.

St. Albert Real Estate Market for Sellers: Timing and Strategy

For those planning to sell, here’s how to make the most of the current market:

1. Price Competitively: With a high average ask-to-sell ratio, setting a realistic asking price is critical to attracting qualified buyers quickly.
2. Market Strategically: Using high-quality images, staging, and SEO-driven listing descriptions can maximize your property’s visibility online, especially to out-of-town buyers.
3. Capitalize on Low Inventory: With fewer new listings, sellers may benefit from the reduced competition, allowing for favorauble pricing and quicker sales.

Investment Potential in St. Albert: Why Now?

Investors eyeing St. Albert will find several advantages in the 2024 market:

1. Appreciating Property Values: With both average asking and sale prices up, St. Albert offers strong potential for long-term capital gains.
2. Growing Rental Demand: Proximity to Edmonton and an influx of young professionals have boosted rental demand, making rental properties in St. Albert a lucrative venture.
3. Family-Friendly Community Appeal: St. Albert’s reputation as a safe, family-friendly community with excellent schools makes it a steady market for rental properties aimed at long-term tenants.

Interested in buying or selling in the St. Albert real estate market CONTACT CHRIS REID

St. Albert Website