21 January 2025

The True Cost of Building a Home in Edmonton in 2024

by Christina Reid

The True Cost of Building a Home in Edmonton in 2024

Building your dream home is an exciting journey, but understanding the true cost can be a challenge. In Edmonton, several factors influence the overall price, from land and materials to labour and government regulations. Let’s dive into the key components that shape the cost of building a home in this dynamic city.

Why Building a Home is an Attractive Option for Buyers

Building a home allows buyers to customize their living space, control the quality of construction, and often secure a more energy-efficient property. With the rising demand for housing in Edmonton, new builds are an appealing choice for those wanting to create a home tailored to their preferences.

Key Factors That Affect the Cost of New Home Construction

1. Land Costs in Edmonton

The price of land varies widely across Edmonton, depending on the neighborhood, proximity to amenities, and future development plans. Areas with higher demand or exclusive communities tend to have higher land costs, which can significantly impact your overall budget.

2. Material Costs: What’s Driving Prices Up?

Material costs have been on the rise due to global supply chain disruptions, and Edmonton is no exception. The price of lumber, concrete, and other essential materials can fluctuate, making it important to account for potential cost increases during your build.

3. Labour Costs: Hiring Skilled Trades in Edmonton

The cost of skilled labour is another key factor. Edmonton’s construction industry is competitive, meaning you’ll need to factor in the wages of experienced tradespeople like electricians, plumbers, and carpenters, who are essential for high-quality workmanship.

4. Design Choices and Their Impact on the Budget

Customization comes with a price. The more elaborate your design, the higher your costs. Luxury finishes, smart home technology, and energy-efficient upgrades can add to the total cost but may be worth the investment in the long run.

How Edmonton’s New Home Builders Help Manage Costs

Builder Relationships with Suppliers

One way to manage costs is through the strong relationships that builders have with local suppliers. These connections often translate into discounted rates on materials, which can help keep your project within budget.

Efficient Project Management to Save Time and Money

Professional project management is essential to avoid delays and costly mistakes. Experienced builders in Edmonton use efficient processes to ensure your home is completed on time and within the budget.

Comparing the Cost of Building vs. Buying an Existing Home

Upfront Costs: Build vs. Buy

Building a home often requires a larger upfront investment, especially when factoring in land, permits, and construction. However, this gives you complete control over the design and quality of materials used, potentially resulting in long-term savings.

Long-term Value: Why Building Can Be Worth the Investment

While buying an existing home may seem cheaper at first, building offers more value in the long term. Energy-efficient features and modern materials reduce maintenance and utility costs, and a well-built home holds its value better over time.

Government Policies and Incentives That Affect the Cost of Building

Tax Rebates and Grants for New Home Buyers

In Edmonton, several tax rebates and grants are available to encourage new home construction. These incentives can help offset some of the costs, making building a more affordable option for many buyers.

Zoning Regulations and How They Impact Costs

Zoning laws in Edmonton can influence where you build and what type of home you can construct. Understanding these regulations upfront can help you avoid unexpected expenses later in the process.

Hidden Costs You Might Not Expect When Building a New Home

Permits and Inspections

The cost of obtaining necessary permits and inspections can add up quickly. Each phase of construction will require approval, which can delay the process and increase costs if not planned for.

Landscaping and Outdoor Features

Many homeowners forget to budget for landscaping, driveways, and other outdoor features. These elements are essential to creating a complete home and can add thousands to your final costs.

Utilities and Infrastructure

Don’t forget the cost of connecting utilities like water, gas, and electricity. In some areas of Edmonton, infrastructure fees can add a significant amount to your total building cost.

How to Budget for Your New Home Build in Edmonton

Getting Pre-Approved for a Construction Loan

Before starting your build, it’s important to get pre-approved for a construction loan. This step helps you understand how much you can afford and ensures there are no surprises during the construction process.

Creating a Detailed Budget: What to Include

Your budget should account for every aspect of the build, including land, materials, labour, permits, and unexpected costs. Working with an experienced builder can help ensure you don’t miss any key expenses.

Conclusion

Building a home in Edmonton is an exciting but complex process. By understanding the various factors that impact costs—from land and materials to government regulations and hidden expenses—you can better plan and budget for your dream home. Working with experienced builders and staying informed about local trends will help you navigate the building process smoothly and make the most of your investment.

FAQs

How much does it cost to build a home in Edmonton? The average cost ranges from $250 to $350 per square foot, depending on location, materials, and design choices.
Are there incentives for new home construction in Edmonton? Yes, there are tax rebates and grants available to new home buyers, which can help offset the costs.
What is the timeline for building a new home in Edmonton? On average, it takes 10 to 12 months to complete a new build, but this can vary based on the complexity of the project.
How can I reduce the cost of building my home? Working with a builder who has strong supplier relationships and focusing on efficient designs can help lower costs.
What hidden costs should I be aware of when building a new home? Don’t forget to budget for permits, inspections, landscaping, and utility connections, as these can add to the total cost.

What Makes New Communities in Edmonton Stand Out

by Christina Reid

What Makes New Communities in Edmonton Stand Out? When it comes to buying a home, choosing the right community is just as important as finding the perfect house. Edmonton’s new home communities offer a unique blend of modern living, natural beauty, and urban convenience, making them a top choice for homebuyers. In this blog, we’ll explore what sets Edmonton’s new home communities apart and why they are an excellent investment for your future.

1. Strategic Location and Connectivity

Edmonton’s new home communities are strategically located to provide the perfect balance between city living and suburban tranquility. These neighbourhoods are often positioned near major highways, ensuring easy access to downtown Edmonton and other parts of the city.

Key Advantages:

Proximity to Work Hubs: Many new communities are situated near business districts, making commutes shorter and more manageable.
Access to Transit: With Edmonton’s growing transit network, these areas often have bus stops and transit centres nearby, reducing reliance on cars.
Convenience: Essentials like grocery stores, schools, and healthcare facilities are usually just a few minutes away.

Examples:

Communities like Secord and Chappelle Gardens exemplify this convenience, combining serene environments with excellent connectivity.

2. Modern Home Designs

New home communities in Edmonton are designed with contemporary tastes in mind. Whether you’re looking for a modern bungalow, a spacious two-story, or an innovative smart home, there’s something for everyone.

Features to Love:

Energy Efficiency: New builds often incorporate energy-efficient appliances and construction methods, reducing long-term costs.
Customization: Many builders allow buyers to tailor their homes to meet specific needs, from open floor plans to personalized finishes.
Smart Home Technology: Automation features like smart thermostats, lighting, and security systems are becoming standard in many new homes.

Why It Matters:

These features not only enhance comfort but also boost the resale value of your property, making them a wise investment.

3. Family-Friendly Amenities

One of the biggest draws of Edmonton’s new home communities is their family-centric approach. These neighbourhoods are designed to foster community engagement and cater to the needs of families.

Popular Amenities:

Parks and Playgrounds: Safe and well-maintained spaces for children to play and families to gather.
Schools: Proximity to top-rated schools is a priority in many of these developments.
Recreational Facilities: From swimming pools to skating rinks, many communities feature on-site amenities for residents to enjoy.

Example:

Communities like Keswick and The Orchards offer extensive amenities that promote active, family-oriented lifestyles.

4. Focus on Green Living

Sustainability is at the forefront of Edmonton’s new home developments. Builders and developers prioritize green spaces, eco-friendly designs, and environmental conservation.

Highlights:

Walking Trails and Bike Paths: Encouraging active transportation and reducing carbon footprints.
Sustainable Materials: Many homes are built using eco-friendly materials and technologies.
Preserved Natural Features: Developments often integrate existing natural features like wetlands, forests, and rivers.

Community Example:

In Riverside, the integration of natural landscapes with urban planning creates a harmonious living experience.

5. Vibrant Community Life

Living in Edmonton’s new home communities is more than just owning a house; it’s about becoming part of a vibrant, supportive community.

Community Perks:

Events and Activities: Many neighbourhoods host regular events like farmers’ markets, movie nights, and fitness classes.
Community Centres: Spaces for residents to gather, celebrate, and build connections.
Diverse Demographics: A mix of young professionals, families, and retirees creates a welcoming atmosphere.

Why It Stands Out:

These communities are designed to foster social interaction, making it easier to form meaningful relationships with neighbours.

6. Future-Focused Development

Edmonton’s new home communities are built with an eye toward the future. Developers collaborate with city planners to ensure that these areas remain desirable and functional for years to come.

Key Developments:

Mixed-Use Areas: Combining residential, commercial, and recreational spaces for convenience and vibrancy.
Technological Integration: High-speed internet and smart city initiatives are often part of the planning process.
Expansion Plans: As the city grows, these communities are positioned to benefit from infrastructure and economic developments.

7. Affordable Options for Every Budget

New homes in Edmonton offer a range of price points, making them accessible to a wide audience. From entry-level homes to luxurious estates, there’s something for everyone.

Benefits:

Lower Maintenance Costs: New homes typically require less upkeep than older properties.
Warranty Protection: Many new builds come with warranties, providing peace of mind for buyers.
Financial Incentives: Programs like first-time homebuyer incentives and low-interest mortgage rates make new homes even more attainable.

8. Access to Outdoor Recreation

Edmonton’s new home communities often capitalize on the city’s natural beauty, providing residents with easy access to outdoor activities.

Nearby Attractions:

Riverside Trails: Perfect for hiking, biking, and leisurely walks.
Golf Courses: Many communities are near some of Edmonton’s top golf clubs.
Lakes and Parks: Ideal for fishing, picnics, and family outings.

Example:

In Crimson in Creekwood Chappelle, residents enjoy a unique mix of urban amenities and outdoor adventures.

9. Resilience to Market Trends

Investing in a home within a new community in Edmonton offers financial stability. These developments are typically planned in high-demand areas, ensuring strong resale potential.

Why It’s a Safe Bet:

Steady Appreciation: Homes in well-designed communities often appreciate faster than those in less desirable locations.
High Demand: Features like modern designs and proximity to amenities make these homes attractive to future buyers.
Quality Assurance: Builders in Edmonton are known for their rigorous construction standards, ensuring durability.

10. Support from Reputable Builders

Edmonton’s new home communities are developed by trusted builders known for their commitment to quality and innovation.

Top Builders in Edmonton:

Brookfield Residential
Cantiro
Landmark
Jayman BUILT
Rohit Communities
Sterling Homes

Why This Matters:

Buying from a reputable builder ensures you get a home that meets your expectations and complies with the latest building codes.

Conclusion: Why Edmonton’s New Home Communities Shine

New home communities in Edmonton offer a lifestyle that blends modern convenience, natural beauty, and community spirit. From family-friendly amenities to sustainable living options, these neighbourhoods cater to diverse needs and preferences. Whether you’re a first-time homebuyer or looking to upgrade, Edmonton’s new home communities are an excellent choice.

By choosing a new home in one of these communities, you’re not just buying property—you’re investing in a vibrant and fulfilling lifestyle.

Have more questions on What Makes New Communities in Edmonton Stand Out? 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!

20 January 2025

Building Cost vs Buying Resale in Edmonton Which Is Right for You?

by Christina Reid

Building cost vs. buying resale in Edmonton, which is right for you? When considering a move into a new home in Edmonton, you’re often faced with one big decision: should you build a custom home from scratch or purchase an already-built property? Both options have unique advantages, and each comes with its own set of financial, lifestyle, and logistical considerations. This blog will dive deep into the cost implications, time commitments, and lifestyle factors of building versus buying a home in Edmonton to help you determine which path is right for you.

1. Understanding the Costs

Building a Home in Edmonton

Building a custom home allows you to design every detail, from the floor plan to the finishes. However, the costs can add up quickly:

Land Purchase: The first step in building is acquiring a lot. In Edmonton, the cost of land varies depending on location. Prime areas like Windermere or West Edmonton tend to have higher land prices than suburban developments in the outskirts.
Construction Costs:
- Base Build: As of 2024, the average cost to build a home in Edmonton ranges from $200 to $300 per square foot, depending on the quality of materials and complexity of the design.
- Custom Features: Upgrades such as quartz countertops, custom cabinetry, and smart home technology can add significant costs.
- Permits and Fees: Municipal building permits, utility hookups, and development fees are additional expenses.
Hidden Costs: Delays due to weather, changes in material costs, and unexpected complications during construction can increase your budget by 10-20%.

Buying a Home in Edmonton

Purchasing a pre-built home is often seen as a more straightforward option. Here’s a breakdown of the costs:

Market Value: As of late 2024, the average price of a detached home in Edmonton hovers around $450,000. Prices vary by neighbourhood, with areas like Terwillegar being more affordable than upscale communities like Glenora.
Closing Costs: Expect to pay an additional 1-3% of the purchase price in closing costs, including lawyer fees, land transfer taxes, and inspection fees.
Renovation and Maintenance: While newer homes require less immediate upkeep, older homes may need repairs or updates, adding to the overall cost.

2. Financing Options

Building a Home

Financing for a new build involves different steps compared to buying a home. Most buyers will need a construction mortgage, which is paid out in stages as the build progresses. This type of mortgage often requires a larger down payment (20-25%) and can have higher interest rates due to the increased risk.

Buying a Home

For those purchasing a home, conventional mortgages are the most common financing option. With down payments starting at 5% for first-time buyers, this route is generally more accessible. Additionally, mortgage pre-approvals make budgeting more predictable.

3. Time Considerations

Building

The average custom home build in Edmonton takes 8-12 months, but this can extend to 18 months for more complex designs. While the timeline may allow for detailed customization, it also means a longer waiting period before you can move in.

Buying

Purchasing an existing home typically involves a much faster process. Once your offer is accepted, it usually takes 30-60 days to close, allowing you to move in quickly.

4. Customization vs. Convenience

Building

One of the biggest advantages of building your home is the ability to tailor every aspect to your needs. From energy-efficient systems to unique architectural designs, building allows you to create a home that matches your lifestyle perfectly.

Buying

While customization options are limited with an existing home, modern resale homes often come equipped with popular features like open-concept layouts, finished basements, and upgraded kitchens. In some cases, minor renovations can make the home feel more personal.

5. Long-Term Value

Building

New builds typically have higher upfront costs but can offer better long-term value. Features like energy-efficient windows, solar panels, and advanced insulation can lower utility bills and increase resale value.

Buying

The long-term value of a pre-built home depends largely on its location and condition. Homes in established neighbourhoods may appreciate faster due to proximity to schools, amenities, and transportation.

6. Environmental Impact

Building

Modern construction techniques and materials allow builders to create environmentally friendly homes. If sustainability is a priority, you can incorporate green features such as:

Solar panels
High-efficiency HVAC systems
Low-impact building materials

Buying

Existing homes may not meet the latest energy-efficiency standards. However, retrofitting older homes with energy-efficient upgrades can help reduce their environmental footprint.

7. Market Trends in Edmonton

Building Trends

Edmonton’s housing market is seeing a rise in demand for custom-built homes, especially in newer neighbourhoods like Keswick and The Uplands. Buyers are prioritizing energy efficiency and smart home technology, driving innovation in the building sector.

Buying Trends

In contrast, resale homes in mature neighbourhoods like Riverbend and Strathcona remain popular due to their established infrastructure and proximity to downtown Edmonton.

8. Key Questions to Ask Yourself

What is your budget?
If upfront costs are a concern, buying a pre-built home might be more feasible. However, building offers more control over long-term expenses.
How soon do you need to move?
If you’re on a tight timeline, buying is the faster option.
Do you value customization?
For those who want a home tailored to their exact specifications, building is the way to go.
What’s your tolerance for risk?
Building comes with potential cost overruns and delays, whereas buying is generally more predictable.

9. Pros and Cons Summary

Aspect	Building	Buying Resale
Cost	Higher upfront, potential savings long-term	Lower upfront, potential for hidden costs
Time	8-18 months	30-60 days
Customization	Unlimited	Limited
Financing	More complex	More straightforward
Environmental Impact	High potential for eco-friendly features	Limited without retrofitting

10. Conclusion

Deciding between building cost vs buying resale in Edmonton ultimately comes down to your priorities, financial situation, and lifestyle needs. Building a custom home offers unparalleled customization and the potential for long-term savings, but it requires patience and a higher upfront investment. On the other hand, buying a pre-built home provides convenience, speed, and access to mature neighbourhoods.

If you’re considering your next move, consult with a local Edmonton real estate expert to weigh your options. Whether you decide to build or buy, having the right team by your side can make the process seamless and stress-free.

Have more questions about Building Cost vs Buying Resale in Edmonton? 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 • 17 January 2025

Building Green Eco-Friendly New Homes In Edmonton

by Christina Reid

Building green eco-friendly new homes is growing as more homeowners recognize the importance of sustainability and environmental stewardship. Incorporating green building materials and practices is not only beneficial for the planet but can also lead to long-term cost savings, improved health, and higher property values.

This blog will explore the top eco-friendly materials and practices to consider for your Edmonton new home and highlight why building green is a smart investment for the future.

Why Build Green in Edmonton?

1. Environmental Benefits of Building Green Eco-Friendly New Homes

Edmonton experiences a wide range of weather conditions, from chilly winters to hot summers. Sustainable building practices help minimize the environmental impact of your home, reducing greenhouse gas emissions and conserving natural resources.

2. Energy Efficiency

Eco-friendly homes are designed to optimize energy use. By incorporating renewable energy sources like solar panels or geothermal heating, you can significantly reduce utility bills.

3. Long-Term Savings

Although eco-friendly materials might have a higher upfront cost, their durability and energy efficiency translate into savings over time. For instance, a well-insulated home reduces heating costs during Edmonton’s cold winters.

4. Healthier Living

Green building materials are often free of harmful chemicals, creating a healthier indoor environment. Improved air quality and reduced allergens are key benefits of eco-friendly construction.

Top Eco-Friendly Materials for Edmonton New Homes

1. Recycled Steel

Steel is a highly durable material ideal for constructing frames and beams. Using recycled steel reduces the demand for new raw materials and minimizes waste.

Benefits: Strong, long-lasting, and resistant to pests.
Best For: Structural components and roofing.

2. Bamboo Flooring

Bamboo is a renewable resource that grows rapidly, making it a sustainable alternative to traditional hardwood.

Benefits: Durable, stylish, and easy to maintain.
Best For: Flooring and decorative elements.

3. Reclaimed Wood

Reclaimed wood adds a rustic charm while reducing deforestation. It can be repurposed for flooring, cabinetry, and furniture.

Benefits: Unique aesthetic and environmentally friendly.
Best For: Accent walls, beams, and furniture.

4. Low-VOC Paints

Conventional paints release volatile organic compounds (VOCs) that can harm indoor air quality. Low-VOC or zero-VOC paints are safer and more sustainable.

Benefits: Healthier indoor air and fewer pollutants.
Best For: Interior and exterior walls.

5. Insulated Concrete Forms (ICFs)

ICFs are energy-efficient building blocks made from a blend of cement and foam. They offer excellent insulation, reducing energy consumption.

Benefits: Energy savings and noise reduction.
Best For: Walls and foundations.

6. Solar Panels

Harness Edmonton’s sunny days by installing solar panels. These panels convert sunlight into electricity, reducing reliance on non-renewable energy sources.

Benefits: Renewable energy and lower utility bills.
Best For: Roof installations.

Sustainable Building Practices for Edmonton Homes

1. Passive Solar Design

Passive solar design involves orienting your home to maximize natural light and heat from the sun. Features like large south-facing windows and thermal mass materials help regulate indoor temperatures.

Why It Works in Edmonton: Long winter days with abundant sunlight can be used to heat your home naturally.

2. Rainwater Harvesting

Installing rainwater collection systems allows you to use rainwater for irrigation or non-potable indoor purposes.

Benefits: Conserves water and reduces utility costs.

3. Energy-Efficient Windows

Triple-pane windows with low-emissivity (Low-E) coatings are ideal for Edmonton’s climate, reducing heat loss in winter and keeping interiors cool in summer.

Benefits: Improved energy efficiency and lower heating bills.

4. Smart Home Technology

Smart thermostats, lighting, and appliances help optimize energy usage. You can monitor and control your home’s energy consumption remotely.

Why It’s Green: Reduces wasted energy and integrates seamlessly with eco-friendly building systems.

5. Green Roofs

A green roof is partially or completely covered with vegetation, offering natural insulation and reducing heat islands.

Benefits: Insulation, stormwater management, and aesthetic appeal.

6. Geothermal Heating and Cooling

Geothermal systems utilize the Earth’s natural heat to maintain indoor temperatures. Though installation costs are high, they offer significant energy savings over time.

Best For: Sustainable heating and cooling systems in all seasons.

Edmonton-Specific Considerations for Green Building

1. Cold Weather Challenges

Edmonton’s long winters make energy efficiency a top priority. High-performance insulation and energy-efficient heating systems are essential.

2. Local Building Codes

Ensure your eco-friendly building materials and practices comply with Edmonton’s building regulations. The city has specific guidelines for energy efficiency and sustainability.

3. Access to Sustainable Suppliers

Edmonton boasts a growing number of local suppliers offering eco-friendly materials. Purchasing locally reduces the carbon footprint associated with transportation.

Benefits of Green Building for Edmonton Homeowners

1. Increased Resale Value

Homes with green certifications or eco-friendly features are more attractive to buyers. Sustainable construction is a growing priority in the real estate market.

2. Reduced Carbon Footprint

Green homes contribute to a healthier environment by minimizing resource consumption and emissions.

3. Improved Indoor Comfort

Eco-friendly homes are designed to maintain consistent temperatures and improve air quality, creating a more comfortable living space.

4. Community Impact

By building green, you contribute to a more sustainable Edmonton, setting an example for future homeowners and builders.

How to Get Started with Green Building in Edmonton

1. Choose an Eco-Conscious Builder

Select a homebuilder experienced in green construction. Look for certifications like LEED (Leadership in Energy and Environmental Design) or Built Green Canada.

2. Set a Budget

While green materials and technologies can be costlier upfront, many options are available to suit different budgets. Evaluate the return on investment over time.

3. Incorporate Energy Modelling

Energy modelling tools can predict your home’s energy performance, allowing you to make informed decisions about materials and systems.

4. Take Advantage of Incentives

Government programs and grants, such as Canada’s Greener Homes Initiative, can offset some costs associated with green building.

5. Plan for the Future

Incorporate flexible designs that allow for future upgrades, such as adding solar panels or EV charging stations.

The Future of Green Building in Edmonton

The demand for eco-friendly homes continues to rise as Edmonton homeowners seek sustainable living options. Advances in technology and materials are making green building more accessible and affordable than ever before.

By choosing eco-friendly materials and practices, you’re investing in a healthier, more sustainable future for yourself, your family, and your community.

Final Thoughts on Building Green Eco-Friendly New Homes

Building green isn’t just a trend; it’s a commitment to a better way of living. Whether you’re constructing a custom home or working with a builder, incorporating eco-friendly materials and practices can make a lasting difference.

Edmonton’s unique climate and community make it an ideal city for sustainable home construction. By embracing green building, you can enjoy lower utility bills, improved indoor comfort, and the satisfaction of contributing to environmental preservation.

Have more questions about Building Green Eco-Friendly New Homes In Edmonton? 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!

13 January 2025

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 • 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 • 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

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

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