Facebook
X
Pinterest
Copy Link
Fort Saskatchewan Real Estate Market Statistics – October 2024
The Fort Saskatchewan real estate market has shown remarkable growth and resilience in 2024, reflecting broader trends across the Edmonton Metropolitan Region. The numbers paint a clear picture of a community that is becoming increasingly popular among homebuyers, driven by a combination of favourable market conditions and intrinsic appeal. This analysis aims to unpack the performance of the Fort Saskatchewan housing market in 2024, highlighting key trends and what they mean for potential buyers and sellers.
Bar Graphs Below Are Interactive
Fort Saskatchewan MLS® Listings
Although the analysis shows fluctuations in new listings on a monthly basis—with a decrease of 20.55% YTD in 2024 compared to 2023—this has not hindered the overall market activity. The reduced number of new listings may have contributed to the competitive nature of the market, leading to quicker sales and higher prices.
Fort Saskatchewan Average List Price
The average asking price in Fort Saskatchewan has seen a steady increase, reaching $469K YTD in 2024, which is up by 6.67% from 2023. Comparing the monthly statistics, the average asking price in October 2024 was $474K, which shows a 13.40% rise from $418K in the previous year. This growth in asking prices reflects a healthy market where homeowners can expect their property values to appreciate, making it a promising investment opportunity.
Fort Saskatchewan Home Sales
2024 has been a standout year for property sales in Fort Saskatchewan. Year-to-Date (YTD), there have been 701 properties sold, which marks a significant 33.78% increase from the same period in 2023, when 524 properties were sold. This substantial uptick is a strong indicator of increased demand and a robust housing market. Notably, in October alone, there was an astonishing 93.94% increase in sold properties compared to October 2023, with 64 homes changing hands.
Fort Saskatchewan Average Home Sale Price
The average sale price also reflects positive growth. YTD in 2024, the average sale price was $443K, up 11.47% from $397K in 2023. The monthly figures for October show an even more impressive growth, with the average sale price reaching $451K, up 10.92% from the previous year. This steady increase in sale prices is a clear sign that Fort Saskatchewan remains an attractive locale for both first-time buyers and seasoned investors.
The average ask to sell ratio stands at 0.996 YTD in 2024, indicating that homes are selling very close to their asking prices. This ratio is a modest increase from 0.982 in 2023, suggesting that sellers are getting what they ask for, and buyers are willing to meet these prices due to the perceived value in the Fort Saskatchewan market.
Fort Saskatchewan -Average Days on Market
In terms of market efficiency, the average days on market until sale have decreased significantly, which is an encouraging sign for sellers. The average number of days a property stays on the market has dropped by 26.56%, down to 47 days in 2024 from a higher figure in the previous year. This decrease suggests that properties are moving faster, likely due to increased buyer demand and a competitive market environment.
The trends observed in 2024 serve as a testament to Fort Saskatchewan’s growing appeal and its market’s resilience. For prospective buyers, the data underscores the importance of entering the market sooner rather than later, as prices show a consistent upward trajectory. Sellers can also feel optimistic about listing their properties, given the favourable selling conditions and the likelihood of achieving desirable sale prices.
Fort Saskatchewan’s real estate market in 2024 has demonstrated significant growth, resilience, and buyer interest. With sales and prices on the rise, the local market offers substantial opportunities for both buyers and sellers. As the year progresses, it will be interesting to see how these trends evolve, especially in response to broader economic conditions and local developments. For now, Fort Saskatchewan remains a promising area for real estate investment and homeownership, reflecting the vitality and potential of the broader Edmonton area real estate landscape.
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.
Are you considering buying or selling or just interested in more information on the real estate market in Fort Saskatchewan? CONTACT ME HERE
