Spruce Grove Real Estate Market: February 2025 Update

Spruce Grove Real Estate Market: February 2025 Update

As we progress through 2025, Spruce Grove’s real estate market continues to experience shifts that both buyers and sellers should be aware of. Understanding the trends, property values, and overall market dynamics is crucial when navigating this rapidly evolving landscape. This February 2025 market update offers in-depth insights into what’s happening in Spruce Grove and how it can impact your real estate decisions. Whether you are buying, selling, or investing, it’s important to stay informed about these key developments.

Spruce Grove Market Overview: February 2025

Spruce Grove has seen continued growth and changes in its real estate market, with a mix of both positive trends and slight slowdowns. As we look at the data from February 2025, several noteworthy patterns emerge, indicating a market that is still active but beginning to balance itself in certain areas.

The below graphs are interactive

New MLS® Listing Count

 The number of new listings has remained steady, with 130 new properties coming onto the market in February 2025. Year-to-date, listings are up by 7.76%, with 250 listings so far, compared to 232 listings in 2024. This increase in inventory suggests that more sellers are taking advantage of the market conditions to list their homes.

Average Listing Price in Spruce Grove

In February 2025, the average asking price for homes in Spruce Grove rose to $498,000, marking an 18.13% increase from the same month in 2024. Year-to-date, the average asking price is up by 20.85%, reaching $525,000, up from $434,000 in 2024. This growth reflects the increasing value of properties in Spruce Grove and its growing appeal to homebuyers.

Home Sales Spruce Grove

There were 80 properties sold in February 2025, which is a 10.11% decrease compared to February 2024. However, year-to-date, the total number of properties sold is up by 5.67%, with 149 sold properties compared to 141 in 2024. This shift in monthly sales indicates that while activity has slowed slightly from the beginning of 2024, the overall market remains strong.

Spruce Grove Average Home Sale Price

Homes in Spruce Grove are selling for higher prices. The average sale price in February 2025 was $495,000, reflecting a 29.76% increase from February 2024. Year-to-date, the average sale price has increased by 23.18%, reaching $476,000, compared to $387,000 in 2024. This upward trend underscores the strong demand for homes in the area.

Ask to Sell Ratio: The average ask-to-sell ratio has been positive, with homes selling at 1.001 times their asking price, marking a 1.66% increase from the previous year. This ratio indicates that properties are generally selling at or above their listed price, further highlighting the competitiveness of the market.

Days on Market Until Sale

The average number of days on market has increased slightly, from 71 days in 2024 to 76 days in February 2025, representing an 11.76% rise. While this shows a slight slowing of market activity, homes are still selling relatively quickly, and the overall pace remains faster than in previous years.

What This Means for Buyers

For buyers, Spruce Grove’s real estate market offers a mix of opportunities and challenges. While the average sale price continues to rise, there are still homes available across a range of price points. The slightly longer days on market may give buyers more time to consider their options and make informed decisions.

However, with an increase in both listings and prices, it’s important to be prepared for competition. Spruce Grove remains a sought-after community, and homes are still selling at or above asking price in many cases. Buyers should come prepared with a solid understanding of their budget, financing options, and be ready to act quickly when they find the right home.

Working with a local REALTOR® who understands the nuances of the market can help buyers navigate the increasing prices and ensure that they are making sound investment decisions. Additionally, being flexible with specific home features or property location can give buyers a competitive edge in a market where desirable homes are moving quickly.

What This Means for Sellers

Sellers in Spruce Grove are in a favourable position as the market continues to experience rising home values. With prices trending upward and the ask-to-sell ratio above 1.0, sellers can expect to receive strong offers, often at or above their asking price. The market conditions are ideal for sellers looking to make a move, but it’s still important to price properties correctly and present them well to maximize the return on investment.

Even though homes are selling at a higher price, sellers need to be strategic in pricing. Overpricing a property in such a competitive market can lead to extended days on market and fewer showings. Homes that are priced appropriately and in good condition tend to sell faster and often attract multiple offers, which can drive up the final sale price.

For sellers considering moving up to a larger home or downsizing, the strong market offers an excellent opportunity to make that transition. With more listings entering the market, there are more options available, allowing sellers to find their next home without feeling rushed.

Spruce Grove’s Real Estate Trends to Watch in 2025

As we move deeper into 2025, several key trends will likely continue to shape the Spruce Grove real estate market. These trends provide valuable insight for both buyers and sellers looking to make the most of the current market conditions.

1. Continued Price Growth

The upward trend in home prices is expected to continue throughout 2025. With strong demand, limited supply, and the overall appeal of Spruce Grove as a family-friendly community, home values are projected to rise steadily. This means that both buyers and sellers will need to adjust their strategies accordingly.

2. Increased Inventory

While listings have remained relatively steady, the slight increase in new listings suggests that more homeowners are choosing to sell. This increase in inventory will provide buyers with more choices but also adds more competition among sellers. Buyers may find more options to choose from, but they will still need to act quickly to secure desirable properties.

3. Market Balance

Though there’s been a slight slowdown in monthly sales, the overall year-to-date growth suggests that the market may be stabilizing after a period of rapid acceleration. The increase in days on market and the slight dip in monthly sales could indicate that the market is finding a more sustainable pace, which can benefit both buyers and sellers by providing more breathing room.

4. Development and Growth

Spruce Grove continues to experience development and growth, making it an attractive location for buyers looking for new homes. With ongoing residential and commercial developments, Spruce Grove’s growth potential remains high. For those considering long-term investments, the area’s development could offer significant value appreciation in the coming years.

Final Thoughts: Why Spruce Grove is Still a Hot Market in 2025

Spruce Grove remains a vibrant and growing real estate market in 2025, offering opportunities for both buyers and sellers. While prices are rising, and the market remains competitive, it’s important to keep in mind the long-term value of investing in this flourishing community. Buyers who act quickly and wisely can still secure properties at competitive prices, while sellers can take advantage of the strong demand to maximize their home sale.

For anyone looking to buy, sell, or invest in Spruce Grove, working with an experienced local REALTOR® is essential. An expert can provide valuable insights, help navigate the intricacies of the market, and ensure that all transactions go smoothly.

For more information on buying or selling in Spruce Grove CONTACT CHRIS REID