Devon Real Estate Market Update: March 2025

The Devon real estate market is seeing some interesting shifts in 2025. The town has witnessed notable changes in property sales, average asking prices, and new listings compared to previous years. For prospective buyers and investors, it’s essential to understand these trends to make informed decisions.

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Devon New MLS® Listings

Devon is seeing an increase in new listings, with 16 properties listed for sale in March 2025. This marks a staggering 128.57% increase compared to the same month in 2024, which had only 7 new listings. The YTD figures are even more telling, with 31 new listings in 2025, up from 31 in 2024, showing that the market is staying active with new homes coming onto the market regularly.

For potential buyers, this influx of new listings presents a valuable opportunity to find a home in Devon, whether you’re searching for a starter home, a larger family residence, or even a more affordable property compared to Edmonton’s more competitive market.

Average List Price

The average asking price for properties in Devon has experienced a decline in recent months. As of March 2025, the average asking price for homes in Devon stands at $333K, reflecting a 12.11% decrease compared to March 2024. Despite this drop, the YTD figures indicate a positive shift, with the average asking price in 2025 at $570K, a 27.77% increase over the previous year. This suggests that while the asking price has dipped in recent months, the overall trend for the year is leaning towards higher asking prices.

Devon Home Sales

In March 2025, Devon saw a total of 10 sold properties, marking a significant 28.57% decrease from the same month in 2024. However, the year-to-date (YTD) figures for 2025 show a 20.00% increase in the number of properties sold, with 30 homes sold so far, compared to 25 homes in the first quarter of 2024. This indicates a positive trend in market activity, despite the temporary dip in March sales.

For those considering selling their homes, it’s worth noting that the Devon real estate market is still active, with a steady number of buyers seeking properties. Even though the number of sold homes may have decreased in March, the overall upward trajectory in sales this year suggests that there’s continued demand for Devon real estate.

Average Sale Price

When looking at the average sale price, we can see a more noticeable decrease. In March 2025, the average sale price in Devon was $376K, which represents a 17.82% decrease from the previous year. However, the YTD average sale price is $407K, which is a 6.24% decrease compared to 2024. This indicates that while the market is experiencing some fluctuations, the overall price point for homes in Devon remains relatively stable, especially when looking at the broader picture for the year.

Average Days on Market

One of the most telling signs of market health is how long properties stay on the market. In Devon, properties are currently selling much faster than in the previous year. As of March 2025, homes in Devon are selling in an average of 14 days, which is a dramatic 80.56% decrease compared to the 47 days on market in March 2024. This is a strong indicator that homes in Devon are attracting interest and selling quickly, a trend that bodes well for both buyers and sellers.

Devon’s Market for Buyers and Sellers

For homebuyers, Devon offers a unique opportunity to purchase property in a town that boasts both affordability and access to the amenities of Edmonton. The real estate market here presents a broad range of housing options, from starter homes to more spacious family properties. With the average sale price being lower than Edmonton, buyers can enjoy more value for their money while still benefiting from the town’s proximity to the city.

On the flip side, sellers in Devon are also benefiting from the competitive market conditions. The decreased days on market and relatively steady sale prices indicate that properties are in demand. Sellers looking to list their homes in Devon can expect a faster sale than in larger urban markets, which means less time waiting for an offer.

Why Choose Devon?

While Devon’s real estate market is experiencing some fluctuations, the town itself continues to be an attractive destination for buyers. Located just a 30-minute drive from Edmonton, Devon offers a peaceful retreat from the hustle and bustle of city life, making it perfect for families, retirees, and professionals seeking a quieter lifestyle.

Here are some reasons why Devon is an excellent place to consider for homeownership:

Affordable Housing Options: Compared to Edmonton, Devon’s real estate prices are more affordable, making it an ideal location for first-time buyers, growing families, and investors.
Scenic Beauty: The town’s natural surroundings, including the North Saskatchewan River and surrounding parks, make Devon an attractive place to call home.
Family-Friendly Community: Devon’s small-town feel, coupled with great local schools and amenities, makes it an ideal location for raising a family.
Proximity to Edmonton: With easy access to the Edmonton International Airport and major highways, commuting to the city is a breeze for residents.
Recreational Opportunities: Devon offers numerous parks, trails, and recreational facilities, ensuring that residents have plenty of outdoor activities to enjoy year-round.

What Buyers Need to Know About the Devon Market

If you’re looking to purchase a home in Devon, here are a few key points to keep in mind:

Work with a Local Real Estate Agent: Devon’s real estate market can be competitive, so it’s important to have a knowledgeable agent who understands the area and can help you navigate the market.
Understand Market Conditions: As we’ve seen, the market in Devon can fluctuate. Stay informed about current asking prices and the average time on the market to make sure you’re buying at the right time.
Be Ready to Act Fast: With properties selling in an average of 14 days, be prepared to move quickly if you find a home that fits your needs.
Look for Long-Term Value: Devon’s real estate market has shown stability over the years, which makes it an appealing long-term investment for buyers looking for lasting value.

Conclusion

Devon, Alberta, is an up-and-coming town that offers a unique opportunity for homebuyers looking for a balance between affordability, proximity to Edmonton, and a family-friendly atmosphere. While the market has seen some fluctuations, the overall trend for the year remains positive, with steady sales, new listings, and homes selling quickly. Whether you’re a first-time homebuyer, a growing family, or an investor, Devon’s real estate market is worth considering.

By staying informed about the latest market trends and working with a knowledgeable local real estate agent, you can make an informed decision when purchasing a home in this charming Alberta town.

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.

If you would like more information on the Devon real estate market contact Chris Reid

Town of Devon Website

Devon Real Estate Market Update: March 2025 Statistics