Edmonton Real Estate Market Trends and Insights • 5 May 2024

Edmonton Real Estate Statistics – Home Sales April 2024

by Christina Reid

Edmonton Real Estate Statistics - Market update 2024 Chris Reid Edmonton

Edmonton Real Estate Statistics – April 2024

The Edmonton real estate statistics showcased impressive growth in April 2024, with significant increases in both sales numbers and average prices. Let’s dive into the specifics contributing to this upward trend.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

The Edmonton real estate market saw 2,870 new listings in April up from 2.6k in April 2024. Edmonton’s market had a total of 9,230 new listings year to date.

Average List Price Edmonton Real Estate Market

The average asking price also experienced an upward trajectory, reaching $459,000 in April 2024, a 6.98% rise from the previous year.

Home Sales In The Edmonton Real Estate Market

Edmonton witnessed the sale of 2,200 properties, marking a remarkable 57.14% increase compared to April 2023. Year to date the city saw a cumulative total of 6,510 properties sold, reflecting a 50.42% jump from the same period in 2023.

Edmonton Average Home Sale Price

The average sales price was $414,000, a 7.57% increase from April 2023. The year-to-date average sales price reached $396,000, representing an 8.35% increase compared to 2023.

Edmonton Real Estate Market -Average Days

Properties in April 2024 spent an average of 51 days on the market before selling, a notable reduction of 27.14% compared to last year.

The significant increase in both sold properties and average sales prices signals strong buyer confidence and a robust market in Edmonton. Reduced days on market and a high ask-to-sell ratio further highlight market efficiency, demonstrating that well-priced properties are moving quickly.

The sustained growth of Edmonton’s real estate market is supported by an increase in demand and positive economic factors driving investment. With these trends, potential sellers should consider entering the market to capitalize on favourable conditions, while buyers may need to act swiftly to secure their desired properties amidst rising competition.

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

Spruce Grove Real Estate: Market Trends and Investment Opportunities • Spruce Grove Real Estate: Market Trends and Investment Opportunities • Spruce Grove Real Estate: Market Trends and Investment Opportunities • Spruce Grove Real Estate: Market Trends and Investment Opportunities • 5 May 2024

Spruce Grove Real Estate Market Statistics April 2024

by Christina Reid

Spruce Grove real estate market statistics Chris Reid Edmonton Realtor

Spruce Grove Real Estate Market Statistics – April 2024

The Spruce Grove real estate market picks up momentum. Spruce Grove’s real estate landscape has seen significant growth across various metrics. Let’s break down some of the key highlights from the most recent data.

More detailed information below

The below graphs are interactive

New MLS® Listing Count

The number of new listings also grew, with 168 new properties listed in April 2024, up 7.69% from the same month last year. Year-to-date, new listings totalled 563, a growth of 11.05% compared to the previous year. Despite this increase, demand continues to outpace supply, fuelling competitive market conditions.

Average Listing Price

The average listing price of homes in April was $468.4k. This is an increase of 10.83% over last year April.

Home Sales Numbers

April 2024 has been a particularly busy month for real estate transactions in Spruce Grove, with 154 properties sold, representing a substantial 60.42% increase from April 2023. Year-to-date, a total of 406 properties have been sold, marking a remarkable 46.04% increase compared to the previous year. This surge in sales reflects a strong demand for properties in the area.

Average Home Sale Price

n April 2024, the average sale price in Spruce Grove reached $424,000, a modest 0.86% increase compared to the same period last year. However, year-to-date data indicates a more robust increase, with the average sale price at $409,000, up 5.11% from last year.

Average Days on MLS®

Properties in Spruce Grove are selling faster, with an average of 63 days on market in April 2024. This is a significant 21.25% reduction compared to last year’s 78 days. Year-to-date, the average days on market is down to 68, a 12.82% decrease compared to 2023. Buyers are acting swiftly to secure properties in this competitive market.

Spruce Grove’s real estate market has shown resilience and growth in the face of economic fluctuations. With steady price increases, faster sales, and growing buyer interest, it’s a seller’s market. As we move into the warmer months, sellers can expect continued demand, while buyers should be prepared to move quickly on desirable listings.

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

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.

City of Spruce Grove Website

5 May 2024

Stony Plain Real Estate Statistics- April 2024

by Christina Reid

Stony Plain Real Estate Statistics Market Update Chris Reid Edmonton Realtor

Stony Plain Real Estate Statistics Market Update: April 2024

The real estate market in Stony Plain, Alberta, has been showing remarkable growth and resilience in 2024, with an upswing in sales, increasing property values, and improved market metrics across the board. Here’s a closer look at some of the trends shaping the Stony Plain real estate market based on the latest statistics:

Stony Plain Real Estate Market numbers below…

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

New listings in Stony Plain have also grown, with 196 properties listed so far in 2024, a 41.67% increase over the previous year.

Stony Plain Average Listing Price

One of the most positive indicators for sellers is the improved average ask-to-sell ratio, now at 0.987 for April 2024, compared to 0.975 a year ago. This metric suggests that sellers are achieving closer to their asking prices, an encouraging sign in a competitive market.

Stony Plain Home Sales

In April 2024, 57 properties were sold, marking a significant 58.33% increase compared to April 2023. This positive trend continues year-to-date (YTD), with 166 properties sold, a 29.69% increase compared to the same period last year.

Stony Plain Real Estate Market- Average Home Sale Price

The average sale price of properties also soared, reaching $407,000 in April 2024, an 18.65% increase compared to April 2023. YTD, the average sale price hit $383,000, reflecting an 8.54% rise over the same period last year.

Stony Plain Average Days on Market

Homes in Stony Plain were on MLS® an average of 60 days prior to sale.

Stony Plain’s real estate market in 2024 has demonstrated strong growth with positive changes in key metrics like property sales and prices. This upward trajectory reflects growing demand, higher property valuations, and a market that is increasingly favourable for both buyers and sellers. For those considering a move to or within Stony Plain, now might be the perfect time to explore the opportunities available.

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 are considering buying or selling a home in Stony Plain or just want more information on the Stony Plain real estate market, CONTACT ME HERE.

Town of Stony Plain Website

Rural Strathcona County Real Estate: Market Trends and Investment Opportunities • 5 May 2024

Rural Strathcona County Real Estate Market – Acreage Sales Statistics – April 2024

by Christina Reid

Rural Strathcona County Real Estate Statistics April 2024

Rural Strathcona Country Real Estate Market- Sales Statistics April 2024

Strathcona County real estate market reports for listings, sales and days on market.

In Rural Strathcona County the real estate market has been witnessing a notable surge in acreage sales. Let’s delve into the numbers to understand the dynamics of this burgeoning market.

Bar graphs below are interactive

Strathcona County -Acreage Listings

The influx of new listings further illustrates the buoyancy of the market. In April 2024, there were 71 new listings, indicating a robust 14.75% increase year-to-date compared to 2023. This influx of new inventory provides buyers with a diverse range of options, catering to varied preferences and requirements.

Strathcona County – Average Acreage List Price

Accompanying the rise in sales volume is an upward trend in the average asking price. In April 2024, the average asking price stood at $921K, marking a notable 10.08% increase year-to-date compared to 2023. This upward trajectory in asking prices underscores the value proposition that rural properties in Strathcona County offer to prospective buyers.

Strathcona County –Acreage Sales

In April 2024, the region saw a remarkable uptick in sold properties, with 39 transactions, representing a significant 25.81% increase compared to the same period in 2023. Zooming out to a year-to-date perspective, the growth is even more striking, with a staggering 58.90% surge in sold properties, totalling 116 transactions. This surge reflects a growing interest in the rural lifestyle and the appeal of acreage living in Strathcona County.

Strathcona County Real Estate Market –Acreage Average Sales Price

Despite the increase in average asking prices, the monthly sales price experienced a slight dip. In April 2024, the average sales price was $606K, representing an 18.43% decrease from the same period in 2023. However, when viewed from a year-to-date perspective, the average sales price for 2024 stands at $698K, reflecting a more moderate 4.06% decrease from April 2023. This indicates a potential market correction or adjustment in pricing dynamics, which could present opportunities for buyers seeking value.

Strathcona County Acreage Average Days on Market

A key metric for gauging market activity, the days on market until sale witnessed a notable decrease. In April 2024, the average days on market stood at 114, reflecting a significant 32.56% decrease compared to the same period in 2023. This reduction indicates a faster pace of transactions, potentially driven by heightened demand and efficient market mechanisms.

The real estate market in Rural Strathcona County is experiencing a robust surge in acreage sales. Marked by an increase in sold properties and new listings. While average asking prices have seen an uptick, the monthly sales price has exhibited a slight decline, presenting potential opportunities for buyers. With a faster pace of transactions and a balanced market environment, the landscape is ripe for both buyers and sellers to capitalize on the allure of rural living in this picturesque 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.

Are you considering buying or selling or just interested in more information on the real estate market in Strathcona County? CONTACT ME HERE

Strathcona County Website

Innovative Home Solutions in Real Estate: Trends and Opportunities • Innovative Home Solutions in Real Estate: Trends and Opportunities • 29 April 2024

New Alberta Building Codes: Coming May 1, 2024

by Christina Reid

New Alberta Building Codes: Coming May 1, 2024

Alberta new building codes are set to be implemented on May 1, 2024. These codes promise significant changes in the way buildings are constructed, renovated, and maintained within the province. This blog explores these changes, their implications for builders, developers, and homeowners. Providing some practical advice on how to prepare for the upcoming regulations.

Overview of the New Alberta Building Codes

The upcoming Alberta Building Codes (ABC) are part of a broader initiative to improve safety, sustainability, and efficiency in building practices across the province. The new codes will incorporate updated standards that reflect technological advancements, environmental concerns, and safety practices. Here’s a closer look at some of the key changes:

Energy Efficiency Improvements: One of the central features of the new ABC is the enhanced focus on energy efficiency. Buildings will need to comply with stricter guidelines designed to reduce energy consumption, which includes better insulation, more efficient HVAC systems, and requirements for high-performance windows.
Enhanced Safety Measures: Safety has been a major driver behind the revisions. The new codes introduce stricter fire safety and structural integrity requirements, which aim to better protect occupants in the event of natural disasters or fires.
Accessibility Enhancements: In an effort to make buildings more accessible to people with disabilities, the ABC will include updated accessibility features. This includes wider hallways, more accessible bathroom fixtures, and improved access to public and private facilities.
Sustainable Building Materials: There is a stronger emphasis on the use of sustainable and recyclable materials in construction. This move not only supports environmental goals but also aligns with global trends towards more sustainable building practices.

Implications for Industry Professionals

For architects, builders, and developers, these changes mean that new projects must be planned with these codes in mind to ensure compliance. It will be crucial to:

Stay Informed: Keeping up to date with the specific requirements of the new codes will be essential. Participating in workshops and seminars can be a practical way to understand the changes.
Collaborate with Certified Professionals: Working with engineers and architects who are familiar with the nuances of the new ABC will be key in navigating the transition smoothly.
Revise Project Plans: Existing and planned projects might need to be revisited and revised to meet the new standards, particularly those related to energy efficiency and safety.

Preparing as a Homeowner

Homeowners planning renovations or new constructions will need to consider how these changes might affect their plans. Here are a few tips:

Consult with Professionals: Before undertaking any major renovation projects, consulting with a building professional who understands the new codes will be vital.
Budget Accordingly: Changes in building codes could affect the cost of materials and construction. It’s wise to anticipate potential increases in project budgets.
Seek Financial Incentives: Look for government grants or incentives aimed at encouraging energy-efficient upgrades.

The new Alberta Building Codes represent a significant step towards modernizing construction practices in Alberta. While they may require some adjustment, the long-term benefits of improved safety, sustainability, and efficiency are clear. By preparing adequately for these changes, building professionals and homeowners alike can ensure they are not only compliant but also contributing to a safer and more sustainable future.

As the implementation date approaches, staying informed and proactive will be key to navigating these changes effectively.

For more detailed information on the new Alberta Building Codes coming into effect on May 1, 2024, the Alberta government has published resources outlining the updates to the National Building Code, National Fire Code, and National Energy Code of Canada for Buildings. These updates emphasize improved energy efficiency, enhanced safety measures, and accessibility. These documents are available online and offer guidance for transitioning to these new standards, highlighting the changes from previous editions.

Building Industry and Land Development Alberta (BILD Alberta) also provides resources that include video series and documents to help industry professionals understand and comply with the changes in the 2023 Alberta Building Code. This includes explanations of new tiered energy requirements aiming for net zero ready standards by 2030.

For those interested in obtaining the code documents or seeking further guidance, these resources are accessible online through various Alberta government and industry websites.

Innovative Home Solutions in Real Estate: Trends and Opportunities • Innovative Home Solutions in Real Estate: Trends and Opportunities • 26 April 2024

Canada’s New Mortgage Rules for First-Time Home Buyers in 2024

by Christina Reid

Canadas new mortgage rules first time home buyers 2024

Canada’s New Mortgage Rules for First-Time Home Buyers in 2024: What You Need to Know

Canada’s new mortgage rules for first-time home buyers in 2024, have been released. Aiming to make homeownership more accessible while also maintaining the stability of the housing market. If you’re planning to buy your first home in the near future, it’s crucial to understand these changes and how they could affect you. Here’s a comprehensive breakdown of what’s new, why it matters, and how you can prepare.

Overview of the New Mortgage Rules

Starting in 2024, Canada will implement several key changes to the mortgage rules for first-time home buyers. These are designed to help more Canadians afford their first homes without overextending financially. The highlights include:

Increased Borrowing Capacity: The government has proposed adjustments to the mortgage stress test requirements, potentially lowering the minimum qualifying rate. This change means that first-time buyers could be approved for larger mortgages than under the current rules, depending on their income and debts.
Extended Amortization Periods: There’s also discussion around extending the maximum amortization period for insured mortgages from 25 years to 30 years for first-time buyers on new homes. This extension would reduce monthly payments, making homeownership more manageable for young Canadians, albeit increasing the total interest paid over the life of the mortgage.
Incentive Programs: Enhanced incentive programs, including expanded eligibility for the First-Time Home Buyer Incentive, aim to offer more direct support. These programs might include higher percentage funding for the purchase of a first home, possibly in exchange for an equity share of the home.
Regional Adjustments: Recognizing the vast differences in real estate markets across Canada, these new rules may also include specific adjustments or programs targeted at particularly hot or cold markets, ensuring that the changes meet local needs effectively.
Bigger Down Payment: As of April 16, homebuyers would be able to draw down as much as $60,000, up from the previous limit of $35,000, from their RRSP towards a home purchase.

Why These Changes Matter

The goal of these changes is multifaceted:

Accessibility: By making it easier to qualify for larger loans and reducing monthly payments, these changes can help more Canadians cross the threshold into homeownership.
Economic Stability: Encouraging responsible homeownership can contribute to economic stability. By setting rules that prevent buyers from taking on more debt than they can handle, the government aims to maintain a healthy, stable housing market.
Equity: These changes also aim to level the playing field for first-time buyers, particularly younger Canadians and those in high-cost living areas, ensuring that more people have access to homeownership.

Preparing for the Changes

If you’re a prospective first-time home buyer, here’s how you can prepare for these changes:

Understand Your Budget: Before looking at homes, understand how much you can afford. Consider not only the mortgage but also other expenses like property taxes, homeowners insurance, and maintenance.
Check Your Credit: Your credit score will significantly impact your mortgage terms. Ensure your credit is in good shape to secure the best possible terms under the new rules.
Save for a Down Payment: While the new rules might make borrowing easier, having a substantial down payment can reduce your overall loan costs and monthly payments.
Get Pre-Approved: Once the rules are in place, getting pre-approved by a lender can help you understand exactly how much you can afford under the new system.
Stay Informed: As the implementation date approaches, details may change. Stay informed about any updates or adjustments to the mortgage rules.

The 2024 changes to Canada’s mortgage rules represent a significant shift in policy aimed at helping first-time home buyers. By understanding and preparing for these changes, prospective homeowners can better position themselves for entering the housing market. Whether it’s saving for a larger down payment, improving your credit score, or simply staying up-to-date on policy developments, taking proactive steps now can make a big difference when the new rules go into effect.

If you are a first-time home buyer, make sure to ask you accountant about these tax credits

First-Time Home Buyers’ Tax Credit (HBTC)

First Home Savings Account (FHSA)

The Home Buyers’ Plan

24 April 2024

3D Printed Homes in Edmonton: The Rise of Future New Construction

by Christina Reid

3D printing technology is reshaping the construction industry in Edmonton, making it a hub for sustainable and efficient building practices.

3D Printed Homes in Edmonton: The Rise of Future New Construction

The real estate landscape is witnessing a revolutionary shift with the advent of 3D printed homes, and Edmonton is at the forefront of this innovative trend. As we delve deeper into this exciting development, we explore how 3D printing technology is reshaping the construction industry in Edmonton, making it a hub for sustainable and efficient building practices.

What are 3D Printed Homes?

3D printed homes are constructed using robotic printers that layer materials, typically a concrete mixture, to build walls and structures based on digital designs. This technology not only speeds up the construction process but also reduces labor costs and material waste, presenting a sustainable alternative to traditional building methods.

The Benefits of 3D Printed Homes in Edmonton

Cost-Effective Construction: One of the most significant advantages of 3D printed homes is the reduction in construction costs. By automating parts of the building process, developers can save on labor costs and reduce the risk of construction delays.

Sustainability: 3D printing technology uses only the necessary amount of material, reducing waste significantly. Moreover, the materials used are often recycled or recyclable, aligning with Edmonton’s commitment to sustainability.

Speed: The construction of a 3D printed home can be completed in a fraction of the time required for a conventional home. This rapid turnaround not only benefits builders but also accelerates the move-in process for buyers.

Design Flexibility: 3D printers can create complex, bespoke designs that might be difficult or expensive to achieve with traditional construction methods. This allows for more personalized and innovative home designs.

The Impact on Edmonton’s Housing Market

As Edmonton continues to grow, the demand for affordable and efficient housing solutions is at an all-time high. 3D printed homes offer a viable solution by providing cost-effective, environmentally friendly, and visually appealing housing options. The integration of this technology into Edmonton’s housing market could revolutionize urban development and attract a new wave of home buyers looking for modern and sustainable living spaces.

Current Projects and Future Prospects

Several projects in Edmonton are already showcasing the potential of 3D printed homes. From single-family homes to complex multi-unit residences, the technology is being tested in various formats, providing valuable data and feedback for future developments.

Looking forward, the possibilities for 3D printed homes in Edmonton are boundless. As the technology advances, we can expect even more innovative and sustainable building practices to emerge, further cementing Edmonton’s status as a leader in new construction technologies.

The emergence of 3D printed homes in Edmonton represents a significant shift towards more sustainable, efficient, and affordable construction methods. For prospective home buyers and investors, this is an exciting time to be part of a pioneering movement that is set to transform the real estate industry.

Lafarge and Nidus 3 collaborate on 3D Housing Project

22 April 2024

Canadian Government Home Suites: Unlocking New Opportunities

by Christina Reid

Budget 2024 will propose a new Secondary Suite Loan Program to enable homeowners to access up to $40,000 in low-interest loans to add secondary suites to their homes.

Canadian Government Eases Path for Home Suites: Unlocking New Opportunities

Canadian Government Home Suites Budget 2024: In a significant move to address the housing shortage and provide more affordable living options, the Canadian Government has recently implemented new measures making it easier for homeowners to add secondary suites to their properties. This development is especially crucial for the real estate market, including those involved in new construction homes, and heralds a wave of opportunities for buyers and builders alike.

Canadian Government Home Suites,What’s Changing?

The new regulations introduced by the government aim to streamline the process of creating additional dwelling units (ADUs) such as basement apartments, granny flats, and garden suites. By simplifying zoning laws and reducing bureaucratic hurdles, homeowners can now enhance their property’s value and generate additional income more efficiently than ever before.

Impact on New Construction Homes

For the new construction market, these changes are particularly beneficial. Homebuilders can now design and construct new homes with the foresight of easily integrating secondary suites. This foresight not only aligns with current market demands but also increases the attractiveness of new homes to a broader range of potential buyers.

1. Increased Property Value: Homes designed with the potential for secondary suites are seen as more versatile and valuable, appealing to a segment of buyers interested in investment opportunities or seeking to offset mortgage costs through rental income.
2. Broader Market Appeal: The flexibility to add a secondary suite can attract multi-generational families, investors, or first-time home buyers looking for affordable alternatives in a competitive market.
3. Enhanced Community Development: Integrating secondary suites in new constructions promotes higher-density living without altering neighbourhood character, supporting community growth and sustainability.

Benefits to Homeowners and Community

Homeowners stand to benefit significantly from the relaxed regulations. The ability to add secondary suites not only helps with mortgage payments but also increases housing supply, a crucial factor in many of Canada’s rapidly growing regions.
* Economic Advantage: Additional rental income supports homeowners financially and stimulates local economies.
* Increased Housing Options: More secondary suites mean more affordable housing options without the need for new infrastructure.
* Community Diversity: Diverse housing options bring together various demographic groups, enriching the community fabric.

The Canadian Government’s initiative to make it easier for homeowners to add additional suites is a visionary step towards solving the housing affordability crisis. This policy not only benefits current homeowners but also opens up new avenues for developers and builders focusing on new construction homes.

By embracing these changes, the real estate industry can anticipate a more dynamic market landscape, marked by innovative housing solutions and increased accessibility. Whether you are a homeowner, builder, or investor, now is the time to explore how secondary suites can benefit you and your community.

Fort Saskatchewan Real Estate Market Statistics • 12 April 2024

Fort Saskatchewan Real Estate Market Statistics- April 2024

by Christina Reid

Fort Saskatchewan Real Estate Market Statistics

Fort Saskatchewan real estate market has seen significant changes and growth over the past year. Analyze the latest statistics to understand the trends and provide insights into the local property market.

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

Fort Saskatchewan saw 346 new listings this year, an 18.6% increase compared to 2023.

Fort Saskatchewan Average List Price

The average asking price has reached $448K, a modest 4.14% rise over April of 2023.

Fort Saskatchewan Home Sales

There were 107 sold properties, a substantial increase of 118.37% from April 2023. A total of 268 properties have been sold so far this year, representing a 63.41% increase compared to the same period last year.

Fort Saskatchewan Average Home Sale Price

The average sale price stands at $436K, a 10.66% increase from April 2023. The average sale price year to date has risen to $427K, up by 9.40% compared to last year.

Fort Saskatchewan -Average Days on Market

Homes are selling faster, with a decrease in the average number of days on the market to 67.

The Fort Saskatchewan real estate market has seen impressive growth in sales and price increases over the past year. The considerable rise in the number of sold properties and new listings reflects a robust demand for homes in the region. Moreover, the consistent increase in average sale prices indicates a seller’s market. Whether you’re a buyer or seller, these insights can help guide your decisions in this dynamic 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.

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 • 12 April 2024

St. Albert Real Estate Statistics – March 2024

by Christina Reid

St. Albert Real Estate Statistics – March 2024

A look into St. Albert Real Estate Statistics – March 2024, where we dive into the latest trends and insights. If you’re considering buying, selling, or investing in St. Albert, understanding these trends is crucial.

Robust Sales Growth in Early 2024

In the early months of 2024, St. Albert has witnessed a substantial increase in property sales. By March, the total number of sold properties reached 114, marking a significant 20.00% rise compared to March 2023. The year-to-date figures are even more impressive, with 259 properties sold—a 28.22% increase from the previous year. This spike in sales volume underscores a vibrant market that’s attracting more buyers and investors.

Rising Property Values- St. Albert Home Sales Statistics

The average sale price in St. Albert has seen notable growth, reflecting the strong demand. As of March 2024, the average sales price stood at $505K, up 10.30% from the same month in 2023. The year-to-date average of $497K represents a 14.20% increase from last year. This consistent appreciation in property values indicates a healthy market that offers excellent potential for capital gains.

Market Dynamics: Listings and Pricing

Despite the growth in sales and property values, the number of new listings in St. Albert has slightly declined. From a year-to-date perspective, there were 183 new listings in 2024, down by 7.11% from the previous year. This tightening of available properties can contribute to competitive market conditions, where buyers may face limited choices and sellers can leverage this to their advantage.

The average asking price in the market has adjusted accordingly. With a current average listed price of $534K, there’s been a 3.97% increase over the year. Sellers are also achieving close to their asking prices, with an average ask-to-sell ratio tightening to 0.996, signifying that most homes sell for nearly what sellers initially ask.

Time on Market and Monthly Trends

Homes in St. Albert are also selling faster, with the days on market until sale decreasing. This quicker turnover is a positive sign for both buyers and sellers, indicating a market that is both active and responsive.

Analyzing monthly price movements provides further insights. January 2024 saw average sales prices around $452K, which increased to $505K by March. This upward trajectory in prices demonstrates seasonal strength and growing buyer interest. St. Albert Real Estate Statistics – March 2024

Bar Graphs Below Are Interactive

St. Albert New Listing Count

A total of 183 new listings came on market during the month. This is down 7.1% from last March where we saw 197 homes come to market.

St. Albert Average List Price

The average list price of a St. Albert home was $533.3k up from March 2023 $513.3k

St. Albert Home Sales

There was 114 home sales during the month of March, an increase of 20% from same time last year.

St. Albert Average Cost of Home

The average home sale price in St. Albert was $504.6k. This is up 10.3% from last March when we saw an average price of $457.4k

St. Albert Days on MLS®

St. Albert homes were on MLS® an average of 64 days before selling.

For those considering entering the St. Albert home sales statistics for March 2024 show now might be an opportune time. Whether you’re looking to buy, sell, or invest. Stay tuned to the latest trends and market forecasts to make informed decisions in this lively real estate landscape.

Interested in buying or selling in St. Albert CONTACT CHRIS REID

St. Albert Website