Choosing the Right Lot For Your Edmonton New Home

by Christina Reid

The Impact of Location: Choosing the Right Lot for Your Edmonton New Home

When it comes to building or buying a new home in Edmonton, one of the most critical decisions you’ll face is choosing the right lot. The location of your home doesn’t just determine its aesthetic appeal—it affects your daily life, your property’s value, and even your long-term happiness. The phrase “location, location, location” is often repeated in real estate for a reason. In this blog, we’ll explore how choosing the perfect lot for your new Edmonton home impacts your investment, lifestyle, and future.

Why Location Matters

The location of your lot influences nearly every aspect of your homeownership experience. From convenience to resale value, a well-situated property can make all the difference. Edmonton’s diverse neighbourhoods and developing communities offer a wide range of options to suit different lifestyles and preferences.

Accessibility and Commute: Proximity to major roads like the Anthony Henday, Yellowhead Trail, and Whitemud Drive can drastically cut down commuting time. Whether you’re working in downtown Edmonton or surrounding areas, choosing a lot with easy access to key routes will simplify your daily life.
Lifestyle and Amenities: Edmonton neighbourhoods are known for their unique characteristics. Some communities, like Windermere or Summerside, emphasize family-friendly living with parks and recreational facilities. Others, like downtown Edmonton, cater to professionals seeking an urban lifestyle with access to restaurants, cultural venues, and shopping.
Schools and Education: For families, being close to quality schools is often a top priority. Edmonton boasts a range of public, private, and charter schools. Choosing a lot near top-rated schools not only benefits your children but also increases your home’s resale value.
Safety and Security: Feeling safe in your neighbourhood is essential. Researching crime rates and community reviews can help you choose a location where you’ll feel comfortable and secure.

Factors to Consider When Choosing a Lot in Edmonton

Selecting the perfect lot involves more than picking a spot on the map. Here are some key factors to keep in mind:

1. Neighbourhood Development

Every Edmonton community has a unique vibe. Research whether the area is established or in the early stages of development. Newer communities like Keswick or Secord offer cutting-edge amenities and modern infrastructure, while mature neighbourhoods such as Glenora or Strathcona provide historical charm and a sense of established community.

2. Lot Size and Shape

The size and shape of your lot dictate the type of home you can build and how much outdoor space you’ll have. Wider lots may allow for larger front yards or triple-car garages, while deeper lots can accommodate expansive backyards—perfect for families or avid gardeners.

3. Orientation

The direction your lot faces impacts sunlight exposure, energy efficiency, and outdoor usability. South-facing lots receive more sunlight throughout the day, which is ideal for gardening or enjoying natural light indoors. North-facing lots, on the other hand, may offer cooler interiors during Edmonton’s hot summer months.

4. Proximity to Nature

Edmonton’s lush river valley and abundance of parks make proximity to green spaces a significant factor. Living near trails, ravines, or lakes not only boosts property value but also promotes an active lifestyle.

5. Zoning and Restrictions

Check local zoning laws and neighbourhood covenants before committing to a lot. These regulations dictate what can be built, ensuring that the surrounding properties maintain a consistent appearance and purpose.

Benefits of Choosing the Right Lot

When you select the right lot for your new home, you’re making an investment in your quality of life and your property’s future value. Here are some of the benefits:

1. Enhanced Lifestyle

Living in a location that aligns with your lifestyle makes daily living more enjoyable. A lot near a vibrant community hub or recreational facilities provides convenience and entertainment right at your doorstep.

2. Resale Value

Homes in desirable locations tend to appreciate faster than those in less sought-after areas. Whether you plan to live in your Edmonton home for five years or 50, choosing the right lot ensures long-term value.

3. Lower Maintenance Costs

Some lots are easier to maintain than others. For instance, flat lots are generally simpler to landscape and maintain compared to those on slopes. By selecting a lot with practical features, you can save on future upkeep costs.

Edmonton Neighbourhood Spotlights: Where Should You Build?

Edmonton offers a variety of neighbourhoods to suit different needs. Here’s a breakdown of some of the city’s most popular areas for new homes:

1. Windermere, Keswick

Located in southwest Edmonton, Windermere is synonymous with luxury living. This community boasts modern homes, high-end shopping centres, and scenic trails.

2. Secord

A family-friendly neighbourhood in west Edmonton, Secord is perfect for those seeking a suburban lifestyle with easy access to parks and schools.

3. Chappelle Gardens, Paisley

Chappelle Gardens offers a vibrant community in south Edmonton with family-oriented amenities such as schools, splash parks and community centres.

4. McConachie

In northeast Edmonton, McConachie is a growing area known for its affordability and access to schools, shopping, and public transit.

How to Narrow Down Your Options

Choosing the right lot may seem overwhelming, but a systematic approach can make the process easier:

Start with Your Priorities: Define what’s most important for you—proximity to work, schools, amenities, or nature.
Visit Multiple Locations: Walk through neighborhoods, visit show homes, and assess the surroundings.
Consult with Experts: Work with a local Edmonton real estate agent or builder who understands the market and can provide insights.
Consider the Future: Evaluate the long-term growth potential of the neighbourhood to ensure your investment holds its value.

Tips for Avoiding Common Mistakes

While choosing the right lot is exciting, there are common pitfalls to watch out for:

Ignoring Natural Features: Don’t overlook drainage, soil quality, or elevation—these factors can affect your home’s stability and maintenance.
Rushing the Decision: Take the time to thoroughly research and evaluate options before making a commitment.
Overlooking Hidden Costs: Consider additional costs like utility connections, lot premiums, or landscaping requirements.
Check School Boundaries: Some Edmonton schools are only doing lottery draws for entry.

Conclusion

Choosing the right lot for your new home in Edmonton is a decision that requires careful consideration. From the neighbourhood and amenities to the size and orientation of the lot, every factor plays a role in shaping your experience as a homeowner. By taking the time to research, consult experts, and prioritize your needs, you can ensure that your new home will be the perfect place to create lasting memories.

Have more questions on Choosing the Right Lot The Impact of Location? Contact Chris Reid Edmonton REALTOR®

For more insights into Edmonton’s real estate market, follow me on Facebook, Instagram, and YouTube. Stay updated on the latest new build opportunities and exclusive deals!

Edmonton New Home Builders - Trends and Market Updates • Edmonton New Home Builders - Trends and Market Updates • Edmonton New Home Builders - Trends and Market Updates • 10 January 2025

Reading Builder Floor Plans : A Guide for Edmonton New Homes

by Christina Reid

Reading builder floor plans when considering a new construction home in Edmonton is one of the most critical element to selecting your home. Floor plans serve as the blueprint for your future home, offering a detailed visualization of its layout, dimensions, and features. Understanding these documents can empower you to make informed decisions and ensure your new home meets your needs and lifestyle.

In this comprehensive guide, we’ll delve into the essential elements of floor plans, how to interpret them effectively, and how they can influence your home-buying journey in Edmonton.

What Is a Floor Plan?

A floor plan is a scaled diagram that shows the layout of a home from a top-down perspective. It includes walls, doors, windows, and fixed installations like kitchen appliances and bathroom fixtures.

For new construction homes in Edmonton, builders often provide floor plans during the initial consultation phase, giving you an opportunity to explore various layouts and configurations before committing to a design.

Key Components of a Floor Plan

Reading builder floor plans effectively, it’s essential to familiarize yourself with its key components:

1. Scale and Measurements

The scale is a crucial element that indicates the proportional relationship between the drawing and the actual size of the home. Common scales include 1/4″ = 1′, meaning a quarter-inch on the plan equals one foot in reality.

Ensure you pay close attention to the dimensions of rooms, hallways, and doorways. In Edmonton’s new homes, dimensions are vital for ensuring that your furniture or cars fit comfortably.

2. Walls and Partitions

Walls are represented by parallel lines, with solid lines indicating structural walls and dashed lines showing partitions or movable walls. Knowing the difference can help you identify potential spaces for customization.

3. Doors and Windows

Doors are typically shown as arcs or swinging lines, while windows appear as thin rectangles on the walls. Look at their placement to assess natural light flow and traffic patterns in your home. Do the windows open?

4. Symbols and Legends

Builders often use standardized symbols to denote features like electrical outlets, plumbing fixtures, and appliances. The accompanying legend on their plans explain these symbols, ensuring you understand each component.

5. Room Labels

Every room on a floor plan is labeled to identify its intended use—such as “Kitchen,” “Primary Bedroom,” or “Living Room.” These labels give you a clear idea of the home’s organization.

How to Interpret a Floor Plan

Interpreting a floor plan involves more than just understanding its components. Here’s a step-by-step approach:

Step 1: Visualize the Space

Use the floor plan to imagine how the space will look and feel. Consider:

How natural light will enter through windows.
Whether the layout facilitates comfortable movement between rooms.
How the placement of furniture might impact functionality.

Step 2: Evaluate Room Sizes

Pay close attention to dimensions. For instance, if the floor plan lists a bedroom as 10′ x 12′, ensure that size aligns with your expectations and needs.

Step 3: Understand Traffic Flow

Good floor plans facilitate easy navigation. Check how doors open, whether hallways feel spacious, and how rooms connect to one another.

Step 4: Note Flexibility

In Edmonton’s growing housing market, many buyers seek homes that can adapt to their evolving needs. Look for areas that can be repurposed, such as a den that could double as a home office.

Step 5: Ask Questions

If anything on the floor plan is unclear, don’t hesitate to ask your builder or realtor for clarification. This is particularly important for first-time buyers who may not be familiar with architectural symbols and terms.

Common Floor Plan Mistakes to Avoid

When reviewing floor plans, be cautious of these common pitfalls:

1. Ignoring Dimensions

Room sizes on paper can be deceiving. Always refer to measurements and visualize the scale using real-world examples.

2. Overlooking Storage

Ample storage is a must for any home. Ensure the floor plan includes closets, pantry space, and other storage solutions.

3. Neglecting Lifestyle Needs

A floor plan might look great on paper but fail to meet your specific lifestyle needs. For instance, families with young children may prioritize proximity to bedrooms, while others might value a home office.

4. Forgetting Future Growth

Consider how the layout will accommodate your future needs, whether that’s a growing family or a home gym.

Benefits of Understanding Floor Plans

1. Personalized Design

Understanding your floor plan allows you to customize your new home to suit your preferences, from altering room layouts to choosing finishes.

2. Better Communication with Builders

Being knowledgeable about floor plans enables clearer communication with your builder, reducing the likelihood of misunderstandings or errors.

3. Smarter Furniture Placement

A detailed floor plan helps you plan furniture placement in advance, ensuring your home is both functional and aesthetically pleasing.

4. Confidence in Your Investment

In Edmonton’s competitive housing market, being informed about floor plans ensures you’re making a confident, well-researched investment.

How to Choose the Right Floor Plan for Your Edmonton Home

1. Prioritize Your Needs

Identify your non-negotiables, such as the number of bedrooms, open-concept layouts, or additional features like a home office.

2. Consider Your Lot

The size and shape of your lot can influence which floor plans are suitable. For example, corner lots might work better with specific layouts.

3. Think About Resale Value

Choose a floor plan that will appeal to future buyers, should you decide to sell. Features like open layouts and modern kitchens tend to retain value.

4. Visit Model Homes

If possible, tour model homes with similar floor plans to get a tangible sense of the layout and space.

5. Get Expert Advice

Consult with your realtor or builder to weigh the pros and cons of different floor plans. Their expertise can help you avoid costly mistakes.

Conclusion: Empower Yourself with Floor Plan Knowledge

Mastering the art of reading and understanding floor plans is essential for anyone purchasing a new construction home in Edmonton. From visualizing your dream layout to ensuring practical functionality, a well-interpreted floor plan is your roadmap to a successful home-buying journey.

By taking the time to familiarize yourself with the symbols, dimensions, and design principles, you’ll be well-equipped to choose a home that fits your lifestyle and goals. Partner with an experienced Edmonton real estate professional to ensure you make the most of this exciting opportunity.

Have more questions about Reading Builder Floor Plans : A Comprehensive Guide for Edmonton New Homes? Contact Chris Reid Edmonton REALTOR®
For more insights into Edmonton’s real estate market, follow me on Facebook, Instagram, and YouTube. Stay updated on the latest new build opportunities and exclusive deals!

Fort Saskatchewan Real Estate Market Statistics • 8 January 2025

2024 Fort Saskatchewan Real Estate Market Overview

by Christina Reid

2024 Fort Saskatchewan Real Estate Market Overview

The 2024 Fort Saskatchewan real estate market witnessed growth in several key areas, including sales, listings, and average sale prices.

Bar Graphs Below Are Interactive

Fort Saskatchewan New MLS® Listings

In 2024, the total number of properties listed increased by 6.75% compared to 2023, rising from 889 listings in 2023 to 949 in 2024 . This growth in listings indicates that the market is active, with more properties available for buyers looking to purchase homes.

Inventory Costs: A Marked Increase

Fort Saskatchewan’s total inventory cost has also experienced a significant rise. In 2024, the total cost of listed properties reached $459M, which is a 21.4% increase from the $378M recorded in 2023 . This surge in inventory cost highlights the growing value of properties in the area, and it is indicative of the increased price tags on homes and land. With a higher cost of inventory, sellers may be more inclined to hold out for better offers, further contributing to the competitive nature of the market.

Comparing inventory costs to previous years shows that the market has become more expensive across the board. From 2021 to 2024, inventory costs have risen by 16.23% , emphasizing the ongoing price appreciation in the Fort Saskatchewan market.

Average Asking Price

Average List Price: A Steady Increase

The average list price in Fort Saskatchewan for 2024 was $484K, which represents a 13.85% increase from the $425K average list price in 2023 . This increase can be attributed to a variety of factors, including rising demand for homes and a tightening supply of properties. The overall price increase signals a more competitive market where sellers are asking for higher prices, and buyers may need to be prepared for higher costs.

When we compare the 2024 average list price with previous years, we can see that prices have been steadily climbing. In 2022, the average list price was $411K, reflecting a 17.77% increase by 2024 . Similarly, from 2021 to 2024, prices have jumped by a significant 26.41%, further emphasizing the trend of rising home values in the area .

Fort Saskatchewan Home Sales

Fort Saskatchewan saw a 31.09% increase in the total number of sales, with 780 properties sold in 2024, compared to 595 in 2023 . This surge in sales reflects a strong demand for properties in the area, suggesting that buyers are eager to purchase despite rising prices and a competitive market.

Total Sales Volume: A Remarkable Surge

The total volume of sales in Fort Saskatchewan has seen a remarkable increase of 48.23%, jumping from $235M in 2023 to $349M in 2024 . This substantial rise in sales volume further illustrates the strong market demand and the willingness of buyers to make purchases despite higher prices.

This increase in total sales volume has been consistent over the past few years, as it also marks a 23.42% increase from 2022 and an 18.09% increase compared to 2021 . This trend points to a healthy and robust market, with buyers and sellers continuing to engage at higher levels than in previous years.

2024 Fort Saskatchewan Average Home Sale Price

Sales Average Price: Consistent Growth

In line with the increases in list prices and inventory costs, the average sale price in Fort Saskatchewan also grew in 2024. The average sale price reached $447K in 2024, up by 13.07% from $396K in 2023 . This increase reflects the growing demand for homes in the area, as well as rising construction and material costs that contribute to higher home prices.

The average sale price has steadily increased over the past few years. From 2022 to 2024, the average sale price has risen by 11.71% . Similarly, compared to 2021, prices have gone up by 16.58%, highlighting a consistent upward trend in property values.

Average List-to-Sell Ratio: A Positive Trend

The average list-to-sell ratio (LSR) in Fort Saskatchewan for 2024 was 0.992, which means that properties sold at almost their full asking price . This represents a 1.09% increase from 2023, where the average LSR was 0.981. The fact that properties are selling for nearly their list price is a positive indicator of the market’s strength and suggests that buyers are finding value at current price points.

This positive trend in the list-to-sell ratio has been consistent in recent years, with small increases each year. In 2022, the LSR was 0.988 , reflecting an overall stable and healthy market with competitive offers from buyers.

Average Days on MLS®

Average Days on Market: A Decrease in Time

One of the most noteworthy changes in 2024 was the decrease in the average number of days on the market for properties. In 2023, the average days on market (DOM) was 75, but this figure decreased by 24.00% in 2024, with an average DOM of just 57 days . This decrease suggests that properties are selling faster, which is often a sign of high demand and a competitive environment.

Compared to previous years, the DOM for 2024 is lower than in 2022, where it stood at 53 days . This shows that while properties are selling more quickly, they are not necessarily selling at a faster rate than in some previous years. Nonetheless, the decreased time on the market highlights the overall high demand in the area.

A Strong Market for Buyers and Sellers

The Fort Saskatchewan real estate market in 2024 is showing robust growth across several key indicators. From the increase in listings and sales to the rising average prices and sales volumes, it’s clear that Fort Saskatchewan is a thriving market. The demand for properties is strong, and with shorter times on the market and properties often selling at close to asking prices, it remains a competitive environment for buyers and sellers alike.

Whether you’re a buyer looking for a new home or an investor interested in property in Fort Saskatchewan, the data from 2024 suggests that now is a great time to enter the market. The increase in prices and sales volume points to a healthy, dynamic market, and for sellers, there are many opportunities to secure a great price for your property.

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

City of Fort Saskatchewan Website

Fort Saskatchewan Real Estate Market Statistics • Fort Saskatchewan Real Estate Market Statistics • Fort Saskatchewan Real Estate Market Statistics • Fort Saskatchewan Real Estate Market Statistics • Fort Saskatchewan Real Estate Market Statistics • 7 January 2025

December 2024 Fort Saskatchewan Real Estate Market Statistics

by Christina Reid

December 2024 Fort Saskatchewan Real Estate Market Statistics

December 2024 Fort Saskatchewan real estate market has shown a remarkable trajectory, with significant gains in key areas such as average sales price, total properties sold, and overall market activity. As we move into December, the market is exhibiting strong trends that reflect both the resilience of the local economy and the evolving preferences of homebuyers. This blog will explore these trends, providing an in-depth analysis of the Fort Saskatchewan real estate market and what buyers and sellers can expect as we close out the year.

Bar Graphs Below Are Interactive

Fort Saskatchewan New MLS® Listings

New Listings: New listings have seen a slight dip. December 2024 had 36 new listings, marking a 10% decrease from the same time last year. However, the YTD numbers for new listings show a 6.75% increase, with 949 new listings compared to 889 last year

Fort Saskatchewan Average List Price

Average Asking Price: The average asking price for homes in Fort Saskatchewan also saw an upward trajectory. In December 2024, the average asking price was $436,000, up by 6.41% from December 2023. For the year-to-date figure, the average asking price reached $484,000, a significant 13.85% increase compared to the same period in 2023 .

Fort Saskatchewan Home Sales

Sold Properties: In December 2024 Fort Saskatchewan saw a significant increase in the number of properties sold. With 41 properties sold, this represents a 28.13% increase compared to December 2023. Year-to-date (YTD), there were 780 properties sold, marking a 31.09% increase from the previous year

December 2024 Fort Saskatchewan Average Home Sale Price

Average Sale Price: The average sale price in Fort Saskatchewan saw an impressive jump. For December 2024, the average sale price was $534,000, a 34.77% increase from December 2023. YTD, the average sale price was $447,000, which is a 13.07% increase from the same period last year .

Ask-to-Sell Ratio: The ask-to-sell ratio is a vital indicator of how well homes are priced relative to their final sale price. December 2024 saw an increase in this ratio to 0.984, a modest improvement from 0.981 YTD. This increase indicates that homes in Fort Saskatchewan are selling closer to their asking price .

Real Estate Market Statistics -Average Days on Market

Days on Market Until Sale: Homes are selling faster in Fort Saskatchewan, with properties staying on the market for an average of 54 days in December 2024. This represents a 44.90% decrease from December 2023, when the average was 57 days. The YTD figures also highlight a significant drop, with homes taking 24% less time to sell compared to the previous year .

Factors Driving the Fort Saskatchewan Real Estate Market

Several factors are contributing to the positive momentum in Fort Saskatchewan’s real estate market. Let’s take a closer look at some of the most influential trends:

1. Strong Local Economy

Fort Saskatchewan has benefitted from a growing local economy, which has led to a steady demand for housing. The city’s proximity to major industrial hubs, such as the oil and gas sector, continues to draw in residents looking for more affordable living options outside Edmonton. Fort Saskatchewan offers a desirable alternative for families and professionals seeking more space and a quieter lifestyle while maintaining easy access to urban amenities.

2. Increasing Property Values

As noted in the data, both the average asking price and the average sale price have increased significantly in recent months. This surge is partly due to strong demand combined with limited inventory. The area’s increasing property values reflect the city’s growing appeal to new buyers and investors. People are increasingly recognizing Fort Saskatchewan as a solid investment opportunity, particularly given its affordability compared to Edmonton.

3. Limited Housing Supply

While the number of new listings has decreased slightly in December 2024, the overall housing inventory remains tight. This limited supply, combined with growing demand, has led to quicker sales and higher prices. The market is competitive, and buyers are acting quickly to secure homes before they are gone. The lower number of days on market highlights this trend, as properties are selling faster than in previous years.

4. Affordable Living

One of the biggest draws for buyers in Fort Saskatchewan is the relatively affordable housing market compared to Edmonton and other surrounding areas. While prices have increased, they remain more attainable for first-time homebuyers, growing families, and those looking for more space for their money. The affordability factor continues to make Fort Saskatchewan a desirable location for both buyers and investors looking to enter the real estate market.

5. A Growing Community

Fort Saskatchewan is not just a place to live; it’s a community in growth. The city has seen a rise in amenities, schools, and recreational activities. This continued development fosters a positive atmosphere for families and young professionals looking to plant roots in a welcoming and expanding area.

Predictions for the Fort Saskatchewan Real Estate Market in 2025

As we look ahead to 2025, several trends are likely to shape the Fort Saskatchewan real estate market. Here are a few predictions:

Continued Price Growth: Given the current demand and limited supply, it’s likely that prices will continue to rise, although at a potentially slower rate. The combination of new listings and the overall market conditions will play a crucial role in determining how quickly prices escalate in the coming months.
More Competitive Market: With Fort Saskatchewan’s continued popularity and affordability compared to Edmonton, the market will likely remain competitive. Buyers can expect to face competition, particularly in desirable neighbourhoods with limited inventory.
Development and Expansion: The city’s continued growth means there will be more opportunities for new construction and development. Buyers can expect more new homes and subdivisions coming to market in the coming year, providing a wider selection of properties.
Investment Opportunities: Investors will continue to view Fort Saskatchewan as a prime area for purchasing properties. The city’s consistent demand and relative affordability make it an appealing market for those looking to purchase rental properties or flip homes.

Conclusion

The Fort Saskatchewan real estate market has proven to be resilient and dynamic through 2024, showing impressive growth in key areas such as sales volume, average prices, and days on market. For both buyers and sellers, this is a great time to take advantage of the opportunities the market presents. As we head into 2025, the continued expansion of the local economy and community, coupled with affordable housing prices, will keep Fort Saskatchewan an attractive place for homebuyers, investors, and families alike.

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

City of Fort Saskatchewan Website

St. Albert Real Estate Market Trends and Investment Opportunities • 7 January 2025

2024 St. Albert Real Estate Market Statistics Overview

by Christina Reid

St. Albert Real Estate Market Statistics Overview for 2024 CHRIS REID Realtor

2024 St. Albert Real Estate Market Overview

The 2024 St. Albert real estate market for 2024 reflects a year of significant growth and resilience. With key metrics showing positive changes in listings, sales volume, average sale prices, and the total cost of inventory, 2024 is shaping up to be a prosperous year for both buyers and sellers. In this blog, we’ll explore the market’s trends, including the performance of residential properties, the effects of supply and demand, and future outlooks. These insights will be beneficial for both potential homeowners and investors in the area.

Key Market Statistics for 2024

To understand the trends and changes in St. Albert’s real estate market, let’s begin by reviewing some of the most significant statistics for 2024.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

Total Listings

In 2024, St. Albert saw a slight increase in the total number of new listings, reaching 1,881 compared to 1,865 in 2023. This represents a modest increase of 0.86%. However, the market still shows a decrease of 2.69% compared to the 1,933 listings in 2022 and a 5.71% decrease from 2021. This steady drop in listings from previous years indicates a more competitive market with limited availability for buyers .

Average List Price

The average listing price in St. Albert rose by 6.00% in 2024, reaching $542,000 compared to $511,000 in 2023. This increase follows a similar upward trend in recent years, as prices grew by 11.54% from 2022 ($486,000) and 20.27% from 2021 ($450,000). These price hikes point to a market that is becoming increasingly desirable, with greater demand driving up home values .

St. Albert Total Sales Volume

The total sales volume for St. Albert has seen a significant increase, growing by 35.22% from $549 million in 2023 to $743 million in 2024. This surge demonstrates a higher volume of high-value sales, further illustrating the demand for properties in this market. The volume of sales is up by 20.09% from 2022 and 15.23% from 2021 .

St. Albert Average Sale Price of Homes

Average Sale Price

The average sale price in December 2024 was $455,000, reflecting a 7.54% increase from the previous year when the average sale price was $423,000. The year-to-date average sale price for 2024 is $497,000, a 9.10% increase from $455,000 in 2023.

St. Albert Housing Market Days on MLS®

Average Days on Market

One of the more positive signs in the 2024 real estate market is the reduction in the average days on market. In 2024, homes sold in an average of 51 days, which is a 17.74% decrease from 2023, where the average was 62 days. This shows that homes are selling faster, likely due to higher demand, lower inventory, and competitive pricing. While the 2024 days on market is up by 18.60% compared to 2022, it is still relatively low, indicating a strong seller’s market

Market Trends and Insights

With the numbers in mind, let’s dive deeper into some of the key trends and insights shaping the St. Albert real estate market in 2024:

Limited Inventory and High Demand
- The slight increase in listings alongside a larger drop in new inventory compared to previous years points to a relatively tight market in St. Albert. Sellers are benefiting from higher listing prices, but buyers are facing a more competitive environment due to fewer homes available for purchase. This dynamic is driving up both sale prices and the overall cost of inventory, making it an ideal time for homeowners considering selling their properties.
Price Growth Continues
- The consistent rise in both listing and sale prices indicates the ongoing appeal of St. Albert. Homebuyers are willing to pay more, likely due to the town’s excellent amenities, family-friendly environment, and proximity to Edmonton. The rapid price increase suggests that buyers should act quickly before prices rise further.
Quick Transactions
- With homes selling faster than in previous years, prospective buyers need to be prepared for a competitive market. The reduced days on market show that homes are being snatched up quickly, often at or above asking price. Buyers are advised to make competitive offers and work with experienced agents who can navigate the fast-paced environment.
Shifting Buyer Preferences
- The increased sales volume and price increases in St. Albert reflect a shift in buyer preferences, possibly influenced by changes in work-from-home policies and the search for larger homes in quieter suburban settings. Families, in particular, may be seeking properties that offer more space and privacy, factors which St. Albert can provide in abundance compared to the more urban areas of Edmonton.

What Buyers and Sellers Can Expect

For buyers, 2024 in St. Albert presents a competitive yet promising opportunity. While prices have risen and inventory remains limited, the area’s growing appeal ensures that property values are likely to continue rising in the coming years. Buyers should be prepared to act swiftly, with well-prepared offers that can compete with others in a fast-moving market.

For sellers, 2024 is an excellent time to take advantage of high demand. The higher sale prices and faster transactions mean that sellers have a distinct advantage in terms of negotiation. However, it’s important to ensure that properties are priced competitively to avoid overpricing, as the market can still be sensitive to price changes.

Outlook for the Future

Looking ahead, the St. Albert real estate market is expected to remain strong, though rising prices and limited inventory could make it increasingly difficult for some buyers to enter the market. Continued demand for suburban living, coupled with the attractiveness of the area’s amenities and access to Edmonton, will likely sustain the market’s upward trajectory.

Conclusion

The 2024 St. Albert real estate market offers significant opportunities for both buyers and sellers. With high demand and rising prices, the market is performing robustly. However, it remains competitive, requiring both buyers and sellers to be prepared and informed about current trends. Whether you’re looking to buy your first home or invest in a growing community, St. Albert remains one of the most attractive options in the Edmonton Metropolitan Region.

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.

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

St. Albert Website

St. Albert Real Estate Market Trends and Investment Opportunities • 7 January 2025

December 2024 St. Albert Market Statistics – Home Sales

by Christina Reid

December 2024 St. Albert Market Statistics – Home Sales

December 2024 St. Albert market has shown notable growth, with several key statistics highlighting the current trends in the local housing market. This update provides insights into the performance of the market, including changes in the number of homes sold, average sale prices, and the time it takes to sell properties. Let’s take a closer look at the numbers that are shaping St. Albert’s real estate landscape.

Market Overview

The St. Albert housing market has experienced substantial growth in 2024. Both the number of homes sold and the average prices have increased compared to last year, reflecting a market that continues to perform well. Here are some key figures to keep in mind:

Bar Graphs Below Are Interactive

St. Albert New Listing Count

- New Listings: In December 2024, there were 65 new listings, a 16.07% increase from the 56 new listings in December 2023. Year-to-date, there were 1,881 new listings in 2024, which is a slight increase of 0.86% from the 1,865 new listings in 2023.
- Steady Growth in Listings: The modest increase in new listings by 16.07% in December and 0.86% YTD suggests that there is a steady flow of homes coming onto the market. However, despite this increase, the demand is still outpacing the available inventory, which could contribute to the rising prices and quicker sales.

St. Albert Real Estate- Average List Price

Average Asking Price: The average asking price for homes in St. Albert has risen to $571,000 in December 2024, a 6.79% increase from the average asking price of $534,000 in December 2023.

December 2024 St. Albert Home Sales

- Sold Properties: In December 2024, a total of 68 homes were sold, which represents a 38.78% increase from the 49 properties sold in December 2023.
- Year-to-Date (YTD) Sales: The total number of homes sold in 2024 reached 1,496, a 23.94% increase from the 1,207 homes sold in 2023.

St. Albert Average Sale Price of Homes

Average Sale Price: The average sale price in December 2024 was $455,000, reflecting a 7.54% increase from the previous year when the average sale price was $423,000. The year-to-date average sale price for 2024 is $497,000, a 9.10% increase from $455,000 in 2023.

St. Albert Housing Market Days on MLS®

Days on Market: Homes in St. Albert are selling more quickly than last year. In December 2024, the average number of days on market until sale was 83 days, which is a 4.60% decrease from the 62 days it took in December 2023.
Faster Sales: With the average days on market dropping by 4.60%, it’s clear that homes in St. Albert are selling more quickly than last year. This is a strong indicator of a seller’s market, where demand outpaces supply, leading to faster transactions. Buyers should be prepared to act quickly if they find a property that meets their needs.

Conclusion

The St. Albert real estate market in December 2024 has demonstrated significant growth across various metrics. With higher sales, increased prices, and faster transaction times, both buyers and sellers have a lot to consider as they navigate the market. As we move into 2025, it’s likely that St. Albert will continue to experience positive market conditions, making it an attractive area for those looking to buy or sell a home.

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.

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

St. Albert Website

7 January 2025

Parkland County Acreage Sales Real Estate Statistics Annual 2024

by Christina Reid

Parkland County Acreage Sales Real Estate Statistics Annual 2024

Parkland County acreage sales has seen fluctuations in both sales and prices. Parkland County, situated just outside the urban core of Edmonton, is known for its beautiful landscapes, serene surroundings, and acreage properties that attract those seeking a rural lifestyle. This blog will delve into the annual sales statistics for Parkland County in 2024, providing valuable insights into the market trends and key metrics to watch out for. Whether you’re a buyer, seller, or investor, understanding the current state of the acreage market can help you make informed decisions.

Market Overview: Parkland County Acreage Real Estate in 2024

The Parkland County acreage market has experienced notable changes in 2024 compared to previous years. When looking at the most critical metrics, such as total listings, average list price, total sales, and average sale price, there are several trends that stand out. These trends help both buyers and sellers assess the state of the market and make predictions for the future.

Below Graphs Are Interactive

Parkland County Acreage Listings

Total Listings: A Decrease in New Listings

In 2024, Parkland County saw 1,016 new listings for acreage properties, a decrease of 3.61% compared to 2023. While the drop in listings indicates a slightly more competitive market, the total number of available properties remains robust. This is in contrast to 2022 and 2021, where the number of listings was significantly higher. As more buyers continue to seek out acreage properties, especially with the increasing appeal of rural living, the limited availability of new listings may drive demand higher.

Average List Price

Average List Price: A Significant Increase

The average list price for acreage properties in Parkland County in 2024 has surged by 11.95%, reaching $717,000. This increase follows a pattern seen over the past few years. When compared to 2021 and 2022, where the average list prices were around $600,000, this growth is indicative of the growing desirability of acreage properties. With the demand for larger, more private spaces increasing, these price hikes are expected to continue, though at a potentially slower pace.

Parkland County Acreage Sales

Total Sales Volume: A Strong Growth

Despite the decrease in new listings, total sales in Parkland County have risen significantly. In 2024, the total number of sales reached 632, a notable 16.18% increase from 2023. This growth in sales volume demonstrates the resilience of the market even in the face of fewer available listings. Interestingly, sales in 2024 have been lower compared to 2021 and 2022, where the total number of sales was over 700 properties annually. Nevertheless, this uptick in sales in 2024 signals a healthy market where demand continues to outweigh supply.

December 2024 Parkland County Average Sale Price

Sales Average Price: A Steady Increase The average sale price for properties in Parkland County has also seen a significant rise, increasing by 8.13% in 2024 to reach $595,000. This increase is a result of both the demand for larger properties and the increasing price per listing. When compared to 2022 and 2021, the price jump is even more pronounced, making it clear that Parkland County acreage properties are becoming more valuable year after year.

Parkland County Acreage Days on MLS®

Days on Market: An Increase in Time on Market

While the number of sales has increased, properties are taking longer to sell. In 2024, the average days on market (DOM) rose to 122, an increase of 16.19% from the previous year. This uptick in DOM could be a result of the higher price points, which may cause potential buyers to be more cautious or deliberate in their decision-making process. Nonetheless, acreage properties in Parkland County remain in demand, but the shift to longer DOM should not be ignored.

Key Factors Influencing the Market in 2024

The increase in both list and sale prices, alongside higher days on market, points to the growing appeal of acreage living and the current economic conditions influencing buyer behaviour. Let’s explore some factors that are shaping the real estate landscape in Parkland County.

1. Rising Demand for Acreage Properties A major driving factor behind the increased prices and sales is the rising demand for acreage properties. In the wake of the pandemic, many individuals and families sought out rural living for its peace, space, and isolation. The trend toward remote work also enables more people to move away from the city, making larger properties in areas like Parkland County an increasingly attractive option.

2. Economic Conditions The rise in average list and sale prices can also be attributed to broader economic trends, including inflation and rising construction costs. As building materials and labor costs rise, property values naturally follow suit. Additionally, mortgage rates have been fluctuating, and while the market is somewhat tempering with the increased interest rates, the demand for acreage homes remains strong due to their unique offerings and space.

3. Supply and Demand Imbalance With fewer listings hitting the market in 2024, the supply of available acreage properties has become constrained. This imbalance between supply and demand continues to fuel price increases. As fewer sellers list their properties, buyers are left to compete for the available homes, pushing prices even higher. This competitive environment can be both beneficial and challenging for those looking to buy or sell in the area.

4. Lifestyle Preferences Another driving force in the Parkland County acreage market is the growing preference for rural living. As more individuals look for ways to escape crowded urban areas, the appeal of a quiet, expansive property becomes even more pronounced. The spacious nature of acreage properties allows for customization and outdoor living options, such as larger gardens, privacy, and room for recreational activities.

How Sellers Can Benefit from These Market Trends

If you’re considering selling your acreage property in Parkland County in 2024, there are several strategies that can help you take advantage of the current market trends.

1. Pricing It Right Given the increases in average sale prices, it’s crucial to list your property at a competitive price. Sellers should consider the unique aspects of their acreage—such as proximity to Edmonton, access to amenities, and the land’s size—and price accordingly. Working with an experienced realtor will help ensure that the property is listed at the most advantageous price point.

2. Marketing to the Right Buyers Targeting buyers who are actively seeking acreage properties will be key in a market with fewer listings. Consider advertising through channels that cater to rural living, and showcase your property’s potential for buyers who are looking for more space and privacy.

3. Highlighting Property Features Make sure to highlight the unique features of your acreage property, such as outbuildings, landscaping, and potential for future development. Buyers in this market are not just looking for a house—they are looking for a lifestyle, and highlighting these features will help your property stand out.

Insights for Buyers in 2024

On the flip side, buyers interested in purchasing an acreage property in Parkland County should be aware of the current market dynamics.

1. Be Prepared for Competition With fewer listings available, the competition for acreage properties is strong. Be prepared to act quickly when you find a property that fits your needs, and consider making an offer sooner rather than later to avoid losing out.

2. Expect Higher Prices Given the rise in list and sale prices, buyers should expect to pay more than in previous years. However, this increase in price reflects the growing demand and potential long-term value of the property.

3. Know Your Financing Options Financing an acreage property can be different from purchasing a home in an urban area. Be sure to consult with a financial advisor to understand your options and ensure that you are making the right investment.

Conclusion

TheParkland County acreage real estate market in 2024 is marked by increased demand, higher prices, and a relatively tight supply. While the market shows resilience, especially with the rise in sales volume and average prices, the increased days on market and decreased listings reflect a competitive and challenging landscape for both buyers and sellers. Understanding these trends will help anyone looking to navigate the Parkland County acreage market, whether you’re selling, buying, or simply observing the changes in this dynamic market.

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 buying and selling in Parkland County CONTACT CHRIS REID

Parkland County Website

7 January 2025

December 2024 Parkland County Real Estate Acreage Sales Statistics

by Christina Reid

December 2024 Parkland County Real Estate Acreage Sales Statistics

December 2024 Parkland County, several trends and statistics provide valuable insights into the current state of the market for those interested in purchasing acreage properties. Parkland county is located in the heart of Alberta, is an area that blends rural charm with proximity to the city of Edmonton, making it an appealing choice for those looking for larger plots of land, tranquility, and the freedom to build their ideal home.

Parkland County: An Overview

Parkland County is a growing rural region situated just west of Edmonton. It spans over 2,500 square kilometres and offers a variety of landscapes, from lakes and forests to open fields, making it a popular choice for people looking to buy large properties away from the hustle and bustle of the city. The county is especially attractive to those seeking acreages, equestrian properties, or homes with extensive yards and personal space. The region’s close proximity to Edmonton also offers the perfect balance of seclusion and accessibility to urban amenities.

Below Graphs Are Interactive

Parkland County Acreage Listings

Market Activity: Listings

When it comes to new listings, 2024 has seen a slight decline. There were 19 new listings in December 2024, a significant 34.48% decrease from the previous year. However, looking at the entire year-to-date, the market saw 1,016 new listings, which is just a 3.61% decrease from 2023.

Average List Price

In terms of pricing, the average asking price for properties in Parkland County has seen some fluctuations. As of December 2024, the average asking price was $678,000, marking a 6.03% decrease from the previous year. Despite this drop, the overall trend for the year shows that the average asking price for acreage properties has risen significantly. The YTD asking price in 2024 is $717,000, which is an 11.95% increase compared to 2023.

Parkland County Acreage Sales

Real Estate Activity: Sold Properties in 2024

The rural Parkland County acreage market has seen significant changes in 2024. Looking at the data, the number of sold properties has experienced a marked increase. In December 2024, there were 30 properties sold, a 20% increase from the same month in 2023. This uptick in sales highlights a growing demand for acreage properties in the region.

For the year-to-date (YTD) period in 2024, a total of 632 properties were sold, representing a 16.18% increase from the 544 properties sold in 2023. This continued rise in sales volume suggests that more buyers are seeking rural properties and acreages in Parkland County, as the trend for rural living continues to gain momentum.

December 2024 Parkland County Average Sale Price

Price Trends: What Buyers Are Paying

The average sale price, however, reflects a slight dip, standing at $575,000 in December 2024, a decrease of 7.11% from December 2023. The YTD sale price for 2024 was $595,000, indicating an 8.13% increase compared to 2023. These figures suggest that while there has been some price fluctuation, the general trajectory of acreage prices is upward, reflecting a growing demand for rural properties in Parkland County.

The Average Ask-to-Sell Ratio: A Positive Outlook

One of the most encouraging indicators for sellers in Parkland County is the ask-to-sell ratio. In December 2024, this ratio was 0.963, reflecting a 1.71% increase from the same month in 2023. This suggests that, on average, sellers are getting closer to their asking prices, which is a sign of a healthy market. The YTD ratio stands at 0.971 in 2024, which is a 1% increase from 0.962 in 2023, further reinforcing the trend that sellers are seeing success in meeting their pricing expectations.

Parkland County Acreage Days on Market

The days on market until sale also reveal interesting insights. In December 2024, properties were on the market for an average of 119 days, a decrease of 11.85% from the previous year. YTD data shows a slight increase in days on the market, up to 122 days in 2024 from 105 days in 2023, a 16.19% increase. This suggests that while properties are still selling relatively quickly compared to the previous year, the market is experiencing some slower sales, likely due to a more competitive market or potential buyers taking their time with significant decisions about acreage purchases.

What’s Driving Demand in the Parkland County Market?

Several factors are contributing to the growing interest in rural acreage properties in Parkland County. These include:

Desire for More Space: After the global pandemic, many buyers are prioritizing larger properties that offer more space for personal enjoyment and outdoor activities. Parkland County offers generous acreages, giving residents the space to grow their own gardens, build workshops or barns, and have privacy that can’t be found in urban settings.
Proximity to Edmonton: While Parkland County offers a rural setting, it is only a short drive from Edmonton, making it an ideal location for people who want to enjoy the benefits of both city and country living. Buyers can commute to work, access shopping, dining, and cultural activities, while retreating to the peace and quiet of rural life at the end of the day.
Affordability: Acreage properties in Parkland County, compared to other regions in the Edmonton Metropolitan Area, tend to be more affordable. This makes it an attractive option for those who might find land prices in nearby municipalities prohibitive.
Outdoor Recreation Opportunities: With its natural landscapes, lakes, and wildlife, Parkland County offers numerous recreational opportunities such as hiking, boating, and horseback riding. These amenities are appealing to individuals looking to enjoy a more active lifestyle.
Growing Families and Retirement Buyers: As younger families look for larger homes and older buyers seek peaceful retirements, Parkland County has become a desirable destination for both demographics. Acreage properties offer the peace and quiet that retirees long for while providing the space and flexibility that growing families need.

Challenges and Considerations for Buyers

While the Parkland County acreage market is strong, there are also some challenges and considerations that potential buyers should keep in mind:

Property Maintenance: Acreage properties often require more maintenance than urban homes. Buyers should be prepared for tasks such as maintaining septic systems, wells, and large yards.
Access to Services: While Parkland County is close to Edmonton, some rural properties may lack immediate access to municipal services like garbage collection and public transportation. Buyers should assess the accessibility of utilities and services before purchasing.
Zoning and Regulations: It is essential for buyers to be aware of zoning laws and local building codes, particularly if they plan to develop or subdivide their acreage. Working with a real estate agent knowledgeable about the county’s regulations is crucial.

Outlook for 2025 and Beyond

Looking ahead, the real estate market in Parkland County is expected to remain stable, with steady demand for rural acreages. Although there may be some price adjustments and shifts in market conditions, the growing trend of urban-to-rural migration is likely to continue. With its appealing mix of rural living and proximity to Edmonton, Parkland County will likely continue to attract buyers seeking larger properties for various purposes.

Conclusion

December 2024 Parkland County real estate market shows a continued rise in demand for acreage properties, with higher sales volumes and increasing average prices year-over-year. While there are fluctuations in pricing and days on the market, the overall market remains strong, and buyers are increasingly looking for the rural charm that this area offers. Whether you’re looking for a peaceful retreat, more space for your family, or an investment opportunity, Parkland County offers an attractive range of properties that meet diverse needs.

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 buying and selling in Parkland County CONTACT CHRIS REID

Parkland County Website

Edmonton Real Estate Market Trends and Insights • 7 January 2025

2024 Edmonton Real Estate Market Statistics Annual

by Christina Reid

2024 Edmonton Real Estate Market Statistics Annual

Edmonton real estate market for 2024, it’s evident that the city is experiencing notable shifts across various metrics. From increased listings and average sale prices to a decrease in days on the market, these changes highlight the dynamic nature of Edmonton’s housing sector. Let’s explore these statistics in-depth and analyze what they mean for buyers, sellers, and investors.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

Total Listings: Growth Amidst a Competitive Market

In 2024, Edmonton saw a significant increase in the number of new listings, with a 6.88% rise from 26,518 in 2023 to 28,342 in 2024. This rise indicates that more homeowners and builders are entering the market, likely in response to the city’s growing demand for housing. Interestingly, the total listings in 2024 are lower than those in 2022, suggesting that while there are more homes available than the previous year, supply levels remain somewhat constrained compared to historical peaks.

Despite this growth in listings, the total inventory cost also saw an uptick of nearly 12%, from $11.7 billion in 2023 to $13.1 billion in 2024. This suggests that while more properties are coming onto the market, they are increasingly higher in value.

Average List Price Edmonton Real Estate Market

Average List Prices: Steady Appreciation

The average list price of homes in Edmonton has increased by 4.91%, moving from $442,000 in 2023 to $464,000 in 2024. This consistent upward trend reflects the market’s resilience and an ongoing demand for homes. When compared to 2022, the increase in list prices is more pronounced at 8.84%, and compared to 2021, it is even greater at 15.97%. This growth signals a healthy real estate environment, though buyers should be prepared for slightly higher entry costs.

The average list price has been on a steady rise, fuelled by the city’s continued development and its desirability as a hub for both families and investors. Additionally, the housing inventory mix has likely shifted toward more expensive properties, which could be influencing the overall increase in list prices.

Home Sales In The Edmonton Real Estate Market

Total Sales: A Significant Surge

In 2024, Edmonton experienced an impressive 26.73% increase in total sales, with 20,424 homes sold compared to 16,116 in 2023. This surge in sales indicates that buyers are active and eager to capitalize on market opportunities despite rising list prices. In comparison to earlier years, the increase in sales is also notable, with a 18.14% jump from 2022 and a 19.33% rise from 2021.

This increase in sales volume can be attributed to several factors, including a favourable economic environment, attractive mortgage rates, and a growing population in Edmonton. Additionally, with more homes available for sale, buyers have more options, which helps drive up the total number of transactions.

Total Sales Volume: A Surge in Financial Activity

The total sales volume for 2024 reached $8.37 billion, marking a remarkable 37.99% increase from the previous year’s total of $6.06 billion. This surge in sales volume reflects both the increase in the number of transactions and the rise in sale prices, indicating that the market is not only moving more homes but also doing so at higher values.

This growth in sales volume is also a positive sign for Edmonton’s economy, as it demonstrates that the real estate sector remains a key driver of economic activity. With a 22.82% increase compared to 2022, the market is consistently strengthening, supported by ongoing demand for homes and a generally favourable economic environment.

Edmonton Average Home Sale Price

Sales Prices: A Substantial Increase

The average sales price of homes has also seen substantial growth. In 2024, the average sales price stood at $410,000, reflecting an 8.88% increase from $376,000 in 2023. This increase in sale prices corresponds to the rise in average list prices, though the sales price is typically slightly lower due to negotiations and market factors.

When compared to 2022, the increase in sales prices is a more modest 3.96%, and compared to 2021, the price increase is 5.88%. The rise in sale prices is indicative of strong buyer demand and the overall tightening of the market, where homes are increasingly selling at or near asking prices.

Average List-to-Sell Ratio: A Sign of Market Strength

The average list-to-sell ratio (LSR) has increased from 0.971 in 2023 to 0.987 in 2024, a 1.63% rise. This indicates that homes are selling closer to their list prices, suggesting a competitive and active market where sellers are receiving near full asking prices. This trend aligns with the increase in average sales prices and suggests that buyers are willing to meet the demands of sellers, particularly for well-priced properties.

The increase in the LSR from previous years also highlights the market’s strength. While there has been some fluctuation in the ratio over the past few years, it remains relatively high, suggesting that both buyers and sellers are confident in the market’s stability.

2024 Edmonton Real Estate Market -Average Days

Average Days on Market: A Decrease in Time to Sale

One of the most striking trends in Edmonton’s 2024 real estate market is the decrease in the average days on market (DOM), which fell by 24.32%, from 74 days in 2023 to just 56 days in 2024. This represents a significant shortening of time between listing and sale, indicating that homes are selling faster. With the city experiencing a more competitive market and increasing demand, properties are likely being snapped up quickly, especially those priced attractively and in desirable neighbourhoods.

The decline in DOM is also a strong indicator of a thriving market, where both buyers and sellers are motivated. Homes are moving quickly due to low supply, high demand, and strong buyer confidence in the Edmonton market.

What This Means for Buyers, Sellers, and InvestorsFor Buyers:
The 2024 market presents both challenges and opportunities for buyers. With rising prices and a competitive market, it’s important for buyers to be prepared and act quickly when they find the right property. However, with more listings available than in previous years, buyers have more choices, which can make it easier to find a home that fits their needs.

For Sellers:
Sellers are in a strong position, with homes selling faster and at higher prices. The decrease in average days on the market and the increased LSR suggest that if you price your property right, it will likely sell quickly. Sellers can expect favourable conditions as demand continues to outstrip supply.

For Investors:
The Edmonton market presents solid investment opportunities, particularly as the total sales volume and average prices increase. The rise in both sales and inventory costs indicates that the city’s real estate market is maturing, which could offer good returns for those looking to buy, hold, or sell investment properties.

Conclusion

The 2024 Edmonton real estate market is robust, with positive trends across key metrics such as listings, prices, sales volume, and time on the market. While challenges remain for buyers in terms of rising prices and competition, the overall market dynamics indicate a healthy and growing sector. Both sellers and investors have strong reasons to be optimistic, as the market continues to experience growth and a shift toward higher values.

By understanding these trends, all parties involved can make informed decisions that align with the current state of the Edmonton real estate market.

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.

Looking to buy or sell in Edmonton? CONTACT CHRIS REID

City of Edmonton Website

Edmonton Real Estate Market Trends and Insights • 7 January 2025

December 2024 Edmonton Real Estate Market Statistics

by Christina Reid

Edmonton Real Estate Market Update – December 2024

In December 2024 Edmonton real estate market continues to show positive growth. December has been a particularly noteworthy month, marking significant increases in key metrics like average sale price, number of sold properties, and market activity compared to the previous year. Here’s a breakdown of the latest trends and data that are shaping the local real estate market.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

The overall market activity in Edmonton remains strong with new listings also on the rise. There were 1,110 new listings in December 2024, a 1.75% increase from the previous year. With the steady flow of new properties entering the market, buyers have a variety of options to consider, while sellers can expect relatively quick sales in the current market environment.

Average List Price Edmonton Real Estate Market

The average asking price for properties in Edmonton saw a positive change, with a 4.91% increase compared to last year, reaching $464,000 in December. The year-to-date increase was even higher at 8.22%, demonstrating that sellers are confident in the market conditions and are setting higher prices for their homes.

This increase in asking prices is largely due to continued demand and a competitive market. However, despite the higher asking prices, buyers are still motivated to secure properties, leading to healthy sales activity.

Home Sales In The Edmonton Real Estate Market

In December 2024, Edmonton saw a notable rise in the number of properties sold, with 1,130 properties changing hands. This is a 25.14% increase from December 2023, reflecting a continued strong demand for homes in the region. The overall number of properties sold for the year is also impressive, with a 26.73% increase compared to the same period in 2023, bringing the total to 20,400 sold properties.

This surge in sales is a clear indicator that the market remains active, even in the typically slower months of the year. With the increase in the number of sales, buyers and sellers are finding opportunities to make moves in Edmonton’s dynamic real estate market.

Edmonton Average Home Sale Price

Price growth is another key highlight of the December 2024 real estate market. The average sale price in December reached $419,000, marking a 13.19% increase from December 2023. Over the course of the year, the average sale price has climbed 8.88% year-over-year, from $376,000 to $410,000 for the year to date.

The steady rise in prices reflects the strength of Edmonton’s market. Demand is outpacing supply, which has led to upward pressure on home values. Despite the price increases, Edmonton remains an attractive option for homebuyers, especially when compared to larger cities across Canada, where home prices are significantly higher.

Demand continues to outstrip supply in many areas, leading to competitive bidding in some neighbourhoods. This is reflected in the ask-to-sell ratio, which stands at 0.982 in December, indicating that homes are selling close to their asking prices, a sign of a healthy market with eager buyers.

Edmonton Real Estate Market -Average Days

Another important trend is the decrease in the number of days properties are spending on the market. In December 2024, homes were selling faster, with an average of 70 days on the market, which represents a 13.58% decrease from last year. This reduction in the days on market is indicative of the high demand in Edmonton’s real estate market, as buyers are moving quickly to secure homes.

The average number of days on the market has decreased from 74 days last year, showing that sellers are able to attract buyers more quickly, further contributing to the overall strong market conditions.

The Year Ahead

Looking forward to 2025, the Edmonton real estate market is expected to maintain its positive momentum. Factors such as the city’s strong economy, growing job market, and continued demand for housing are likely to keep the market active.

For homebuyers, it’s important to stay informed about the changing dynamics of the market. While prices have been rising, the increase in inventory may provide more options for buyers as they begin their search in 2025. Sellers, on the other hand, can expect strong demand for their properties, especially if they price them competitively.

Conclusion

Edmonton’s real estate market in December 2024 is finishing the year on a strong note, with higher sale prices, increased sales, and fewer days on the market. These trends suggest that the city’s housing market remains resilient and poised for further growth in the coming months.

Whether you are looking to buy, sell, or invest in Edmonton real estate, now is a great time to take advantage of the market conditions. As we head into 2025, understanding these trends and working with a professional REALTOR® can help you make the best decisions for your real estate goals.

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.

Looking to buy or sell in Edmonton? CONTACT CHRIS REID

City of Edmonton Website