St. Albert Market Statistics – Home Sales November 2024

St. Albert Market Statistics – Home Sales November 2024 : St. Albert, known for its vibrant community and appealing lifestyle options, continues to be a sought-after location for homebuyers in the Edmonton area. The real estate market in St. Albert has shown significant growth and resilience throughout 2024, reflecting a dynamic interplay of demand and supply that shapes local housing trends. This blog provides an in-depth analysis of the St. Albert real estate market as of November 2024, highlighting key statistics and year-to-date changes.

Overview of Market Activity

As of November 2024, the St. Albert real estate market has exhibited notable trends that signify a healthy and active market. The following sections detail the sales performance, price fluctuations, and other pertinent metrics that define the current market landscape.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

The number of new listings in November 2024 was 82, reflecting a decrease of 26.79% compared to the same period last year. The year-to-date figures mirror this trend, with 1800 new listings in 2024 versus 1807 in 2023, a marginal decrease of 0.39%.

St. Albert Real Estate- Average List Price

The average asking price in St. Albert as of November 2024 stood at $584,000, showing a slight decrease of 1.60% from the previous year. 

St. Albert Market Statistics Home Sales

In November 2024, St. Albert saw a total of 95 properties sold, marking a 3.26% increase compared to November 2023. This monthly performance contributes to a robust year-to-date figure, with a total of 1427 properties sold in 2024, up by a substantial 23.23% from 1158 in 2023. This surge in sales volume indicates a strong buyer interest and a healthy turnover in the housing stock, reflecting consumer confidence and a growing population seeking residence in St. Albert.

St. Albert Average Sale Price of Homes

For November, the average sale price was $519,000, a significant increase of 14.84% from November 2023. When looking at the year-to-date data, the average sale price climbed to $498,000 in 2024, up 9.18% from $456,000 in 2023. These statistics indicate that while sellers might be adjusting their expectations slightly downwards, buyers are willing to invest more, driven perhaps by quality improvements or competition for desirable properties.

Average ask-to-sell ratio in St. Albert as of November 2024 was 0.992, up by 1.85% from the previous year, reflecting tighter negotiations between buyers and sellers. The year-to-date data for 2024 shows an average ratio of 0.997, compared to 0.981 in 2023, a rise of 1.60%. This trend suggests that sellers are achieving sales very close to their asking prices, indicative of a seller’s market where demand aligns closely with supply.

St. Albert Housing Market Days on MLS®

The days on market until sale in November averaged 63 days, showing an increase of 12.50% from last year. However, the year-to-date figures present a faster market, with properties taking an average of 49 days to sell in 2024, improving by 19.67% from 61 days in 2023. This indicates a quicker turnover rate for properties, suggesting an efficient market where well-priced homes move faster.

Several factors contribute to the robust dynamics of the St. Albert real estate market. The city’s appeal as a family-friendly community with excellent schools, abundant green spaces, and high-quality municipal services makes it a top choice for prospective homebuyers. Economic stability in the region, coupled with competitive mortgage rates and a diverse housing stock, supports sustained growth in the housing sector.

Looking ahead, the St. Albert real estate market is poised for continued growth. The consistent increase in property values and sales volumes is expected to persist, driven by ongoing residential developments and enhancements in local infrastructure. Prospective buyers and investors should consider these trends when making decisions, as the market shows promising signs for both short-term gains and long-term investments.

Conclusion

The St. Albert market statistics demonstrate significant growth and resilience throughout 2024. With an increase in sold properties and a steady rise in average sale prices, the market conditions favour both sellers and buyers looking for valuable opportunities. As St. Albert continues to develop and attract residents, the real estate market is expected to remain vibrant and dynamic, offering numerous opportunities for those looking to invest in a thriving community.

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

St. Albert Website