Parkland County Real Estate: Acreage Properties and Market Trends • 7 January 2025

December 2024 Parkland County Real Estate Acreage Sales Statistics

by Christina Reid

December 2024 Parkland County Real Estate Acreage Sales Statistics

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

Parkland County: An Overview

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

Below Graphs Are Interactive

Parkland County Acreage Listings

Market Activity: Listings

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

Average List Price

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

Parkland County Acreage Sales

Real Estate Activity: Sold Properties in 2024

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

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

December 2024 Parkland County Average Sale Price

Price Trends: What Buyers Are Paying

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

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

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

Parkland County Acreage Days on Market

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

What’s Driving Demand in the Parkland County Market?

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

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

Challenges and Considerations for Buyers

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

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

Outlook for 2025 and Beyond

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

Conclusion

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

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information.

If you would like more information on buying and selling in Parkland County CONTACT CHRIS REID

Parkland County Website

2024 Edmonton Real Estate Market Statistics Annual

by Christina Reid

2024 Edmonton Real Estate Market Statistics Annual

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

Below Graphs Are Interactive.

Edmonton New MLS® Listings

Total Listings: Growth Amidst a Competitive Market

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

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

Average List Price Edmonton Real Estate Market

Average List Prices: Steady Appreciation

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

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

Home Sales In The Edmonton Real Estate Market

Total Sales: A Significant Surge

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

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

Total Sales Volume: A Surge in Financial Activity

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

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

Edmonton Average Home Sale Price

Sales Prices: A Substantial Increase

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

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

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

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

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

2024 Edmonton Real Estate Market -Average Days

Average Days on Market: A Decrease in Time to Sale

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

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

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

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

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

Conclusion

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

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

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information.

Looking to buy or sell in Edmonton? CONTACT CHRIS REID

City of Edmonton Website

Edmonton Real Estate Market Trends and Insights • 7 January 2025

December 2024 Edmonton Real Estate Market Statistics

by Christina Reid

Edmonton Real Estate Market Update – December 2024

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

Below Graphs Are Interactive.

Edmonton New MLS® Listings

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

Average List Price Edmonton Real Estate Market

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

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

Home Sales In The Edmonton Real Estate Market

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

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

Edmonton Average Home Sale Price

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

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

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

Edmonton Real Estate Market -Average Days

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

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

The Year Ahead

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

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

Conclusion

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

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

Data provided by the REALTORS® Association of Edmonton and subject to change. Always consult with a real estate professional for the most current market information.

Looking to buy or sell in Edmonton? CONTACT CHRIS REID

City of Edmonton Website

Spruce Grove Real Estate: Market Trends and Investment Opportunities • 7 January 2025

Annual Sales Spruce Grove Real Estate Market Overview 2024

by Christina Reid

Annual Sales Spruce Grove Real Estate Market Overview 2024

Annual sales Spruce Grove has experienced significant changes over the past year, with key metrics such as total listings, average sale prices, and total sales volume all showing noteworthy increases. Whether you are looking to buy or sell, understanding the trends in Spruce Grove can help you make informed decisions. Let’s dive into the key data for 2024 and compare it to the previous year.

Overview of 2024 Market Performance

In 2024, Spruce Grove saw a surge in activity across several key areas of the real estate market. Notable metrics such as the total number of listings, the average list price, total sales, and average sales price all recorded significant increases compared to 2023. The market appears robust, with higher listings, faster sales, and a larger total sales volume.

The below graphs are interactive

New MLS® Listing Count

Total Listings: A Strong Increase

The total number of new listings in Spruce Grove for 2024 was 1,539, representing a 7.92% increase compared to 2023, when 1,426 properties were listed. This increase is a positive sign for potential buyers, as it reflects a more active market with a broader range of properties available. Additionally, when comparing 2024 to previous years, the growth is even more pronounced: a 12.42% increase over 2022, and a 16.06% increase over 2021.

This upward trend in listings suggests that more homeowners are choosing to sell, which might be linked to increased market confidence and rising property values. For buyers, this provides a wider selection of homes to choose from.

Average Listing Price in Spruce Grove

Average List Price: A Notable Rise

The average list price for properties in Spruce Grove has also risen significantly in 2024. The average asking price was $465,000, which marks an increase of 10.83% compared to 2023, where the average list price was $420,000. This growth in average list prices reflects the ongoing demand for properties in the area and the broader trend of increasing home values across the Edmonton Metropolitan Region.

Looking back at earlier years, the average list price has increased by 13.55% compared to 2022 and by a striking 22.95% compared to 2021. This upward trajectory is indicative of Spruce Grove’s increasing desirability as a suburban location, with more buyers willing to pay higher prices for homes in this growing community.

Annual Sales Spruce Grove

Total Sales: A Significant Boost

In terms of total sales, 2024 was a strong year for Spruce Grove’s real estate market. The total number of properties sold reached 1,243, an impressive 32.09% increase from 2023, when 941 properties were sold. This substantial rise in sales volume is a clear indication of a highly active market, with both buyers and sellers eager to engage in transactions.

When comparing 2024 to previous years, the market has shown resilience, with sales increasing by 30.16% compared to 2022 and 21.03% compared to 2021. This increase in sales volume is closely tied to the growing demand for homes in the region, likely fuelled by both local interest and migration from the greater Edmonton area.

Total Sales Volume: A Marked Increase

Total sales volume in Spruce Grove experienced a substantial increase in 2024. The total sales volume reached $532 million, a remarkable 45.47% increase compared to 2023, when the total sales volume was $366 million. This rise in sales volume is directly linked to the increase in both the number of properties sold and the average sale price.

Looking at the broader trend, total sales volume has also increased by 41.00% compared to 2022 and 38.88% compared to 2021. This growth in sales volume is indicative of a strong market, with more people buying and selling homes, contributing to the overall economic health of the region.

Spruce Grove Average Home Sale Price

Sales Prices: Positive Growth

The average sale price in 2024 also saw a positive uptick. The average sales price for homes in Spruce Grove was $428,000, which represents a 10.13% increase over 2023, when the average sale price was $388,000. The growth in sale prices is in line with the increase in list prices, as buyers are willing to pay more for homes in this competitive market.

Comparing to previous years, the average sale price has increased by 8.33% over 2022 and by 14.75% over 2021. This price growth suggests a continued upward trajectory for home values in Spruce Grove, making it an appealing market for homeowners looking to sell and capitalize on the increase in property values.

Days on Market Until Sale

Days on Market: A Decrease in Time

One of the most telling signs of a hot real estate market is the number of days a property spends on the market before being sold. In 2024, the average days on market (DOM) for homes in Spruce Grove was 58, down from 71 days in 2023. This 18.31% decrease in DOM suggests that properties are selling faster, reflecting strong buyer demand.

While the decrease in DOM from 2023 to 2024 is significant, it’s worth noting that the number of days on market has increased by 20.83% compared to 2022 (48 days) and by 11.54% compared to 2021 (52 days). Despite these increases compared to earlier years, the overall market remains relatively fast-moving, which is beneficial for sellers looking to quickly close deals.

Market Outlook for 2025 and Beyond

As we look ahead to 2025, the Spruce Grove real estate market appears to be on solid footing. The continued rise in property listings, sales, and prices suggests a strong demand for homes in the area, and the relatively fast turnover of properties indicates an active buyer base. However, potential buyers and sellers should remain mindful of the challenges that could arise, such as interest rate changes and shifting economic conditions.

For prospective homebuyers, Spruce Grove offers a variety of options, from affordable family homes to luxury properties, all set against the backdrop of a growing community with access to excellent amenities. Sellers, on the other hand, can take advantage of the rising prices and increased buyer interest to potentially secure higher returns on their investments.

Conclusion

The real estate market in Spruce Grove in 2024 has shown impressive growth across multiple indicators. With higher listings, rising prices, and increased sales volume, the market is positioning itself as one of the most dynamic areas in the Edmonton Metropolitan Region. Whether you’re looking to buy, sell, or simply stay informed, these trends are worth keeping an eye on as they continue to shape the future of Spruce Grove’s housing market.

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

Spruce Grove Real Estate: Market Trends and Investment Opportunities • 7 January 2025

December 2024 Spruce Grove Real Estate Market Statistics

by Christina Reid

December 2024 Spruce Grove Real Estate Market Statistics

In December 2024 Spruce Grove continues to be one of the most attractive communities for homebuyers in the greater Edmonton area. Its proximity to the city, combined with a small-town feel and growing infrastructure, has contributed to a steady increase in demand. In this blog post, we will dive deep into the latest market trends and key statistics for December 2024 to give you a comprehensive view of the Spruce Grove real estate landscape.

The below graphs are interactive

New MLS® Listing Count

Fewer New Listings, but Strong Year-to-Date Growth

While December saw a decrease in new listings, with only 62 new properties hitting the market, the overall year-to-date numbers indicate healthy growth. There were 1,539 new listings in 2024, a 7.92% increase compared to 2023. The drop in December may simply reflect seasonal slowdowns as we approach the holiday season.

The decrease in new listings combined with the increase in the number of properties sold suggests that Spruce Grove is experiencing inventory shortages, which may continue to drive prices higher. As we move into 2025, it’s expected that the market will experience new construction projects, which could help replenish inventory levels.

Average Listing Price in Spruce Grove

Rising Home Prices

The increase in average asking prices reflects the heightened demand and continued popularity of Spruce Grove. Home sellers are pricing their properties higher due to the lack of inventory and rising buyer competition. In December 2024, the average asking price reached $499K, and the average sale price was $453K, showing an 18.22% increase from the previous year.

This upward trend in prices highlights the competitive nature of the market. However, it’s important to note that these increases are still relatively moderate compared to other areas, which may make Spruce Grove appealing for buyers seeking value for their money.

December 2024 Spruce Grove Home Sales

One of the most significant indicators of the health of a real estate market is the number of properties sold. In Spruce Grove, the total number of sold properties reached 68 in November 2024, marking a 3.03% increase from the previous year. Year-to-date (YTD) figures are even more impressive, with 1,187 properties sold in 2024, which is a substantial 31.89% increase compared to 2023. This uptick in sales volume is a strong signal of growing buyer interest and an increasingly competitive market environment.

Real Estate Market Statistics Spruce Grove Average Home Sale Price

his increase is consistent with the trend observed in average sale prices, which saw a 23.20% rise to $444,000 in the same month, compared to November 2023. The year-to-date average sale price also rose to $427,000, reflecting a 9.80% increase from the previous year.

The average ask-to-sell ratio in November 2024 was 0.989, showing a slight increase of 1.24% from the previous year. This ratio, which measures how close the final sale price is to the asking price, indicates that sellers are achieving nearly their full asking price, signifying a seller’s market where buyers are willing to meet the terms set by sellers.

Days on Market Until Sale

Shorter Time on Market

Homes in Spruce Grove are selling faster. In December 2024, the average number of days on the market was 49, a significant decrease from the 71 days in December 2023. This 38.75% drop in time on market indicates a seller’s market, where demand is outpacing supply, and homes are being snapped up quickly.

For buyers, this means that it’s crucial to act fast when a property that meets their criteria hits the market. For sellers, it means that homes priced correctly and marketed well can sell quickly and at or above asking price.

The Spruce Grove Market in Perspective

Spruce Grove is experiencing a thriving real estate market, with impressive year-over-year gains in both sales and pricing. While the number of new listings has seen a slight dip in December, the overall market remains strong. Buyers looking for affordable homes near Edmonton will continue to find Spruce Grove an attractive option. With its ongoing development and strong community amenities, Spruce Grove will likely continue to be a hot spot for real estate investment.

For sellers, the market conditions are favourable, with homes selling faster and prices continuing to climb. It’s an ideal time for those looking to capitalize on the growing demand.

Looking Ahead: What’s Next for the Spruce Grove Real Estate Market?

As we head into 2025, the Spruce Grove real estate market is poised for continued growth. With ongoing urban development, better access to amenities, and affordable housing options, Spruce Grove will likely continue to attract both first-time homebuyers and those looking to upgrade their homes.

For buyers, staying informed on the latest listings and market trends will be crucial to securing a home at the right price. For sellers, pricing strategically and preparing homes for quick sales will be key to taking advantage of the current market conditions.

In conclusion, whether you’re a buyer, seller, or investor, Spruce Grove offers significant opportunities in 2025. Keep an eye on the market and work with an experienced local REALTOR® to make the most of the growing real estate landscape.

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

Stony Plain Real Estate: Market Trends and Investment Opportunities • 7 January 2025

Stony Plain Housing Market: Trends and Insights of 2024 Annual Statistics

by Christina Reid

Stony Plain Housing Market 2024 Annual Statistics Chris Reid Realtor

Stony Plain Housing Market: Trends and Insights Annual 2024 Statistics

The Stony Plain housing market, has witnessed significant changes in 2024, offering both challenges and opportunities for buyers, sellers, and investors. As the market evolves, understanding the key metrics and trends is essential for making informed decisions. Whether you are looking to buy, sell, or invest in Stony Plain, this blog will dive into the most recent data and market insights to help guide you through the process.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

Total Listings and Inventory

In 2024, Stony Plain saw an increase of 6.26% in new property listings, bringing the total number of new listings to 611. This is a significant improvement from 2023, which had 575 new listings. However, compared to 2022 (663 listings), the market has seen a slight decrease of 7.84% in the number of new listings. This decrease may indicate a tightening of the inventory, which could result in increased competition among buyers.

The rise in new listings is likely a response to the growing demand for homes in the area. More listings mean more options for potential buyers, but the reduced number of listings compared to previous years suggests that sellers are holding onto properties longer, waiting for the right price.

Average Asking Price of Homes in Stony Plain

Average List Price: A Rising Trend

One of the most noticeable changes in 2024 is the increase in the average list price. The average price of properties listed in Stony Plain rose by 9.08%, from $377,000 in 2023 to $411,000 in 2024. This is a clear indicator of the demand for homes in the area, as well as the rising value of real estate.

Looking at historical trends, we see that the average list price in 2022 was $373,000, and in 2021 it was $349,000. This shows a steady increase in prices, with a 10.27% increase from 2022 to 2024 and a 17.81% increase from 2021 to 2024. This upward trend in prices suggests that Stony Plain is becoming an increasingly desirable location for buyers, especially as the area continues to grow and develop.

December 2024 Stony Plain Home Sales

Total Sales and Sales Volume

Sales activity in Stony Plain has experienced significant growth in 2024. The total number of sales has increased by 31.61%, rising from 386 sales in 2023 to 508 in 2024. This is a positive sign for the market, as it indicates strong buyer interest and a robust economy.

The total sales volume has also seen an impressive jump, increasing by 41.41% from $136 million in 2023 to $192 million in 2024. This growth reflects not only the increased number of sales but also the higher average sale prices, as discussed earlier.

Interestingly, the number of sales has outpaced the increase in listings, which suggests that demand is currently surpassing supply. This could result in a more competitive market for buyers, with quicker sales and potentially higher sale prices.

Average Home Sale Price

Sales Average Price: Higher Prices Reflect Demand

The average sale price in Stony Plain has increased by 7.45%, from $351,000 in 2023 to $377,000 in 2024. This rise is in line with the increase in list prices and reflects the overall upward trajectory of property values in the area.

When we compare these numbers to previous years, we see that the average sale price in 2022 was $358,000, and in 2021 it was $342,000. This represents a 5.36% increase from 2022 to 2024 and a 10.35% increase from 2021 to 2024. These increases are indicative of a growing demand for homes in Stony Plain, likely driven by factors such as new developments, improved infrastructure, and the area’s proximity to Edmonton.

Average List to Sell Ratio

The average asking-to-selling ratio (LSR) is an important indicator of how close the final sale price is to the original list price. In 2024, the LSR for Stony Plain is 0.988, up from 0.979 in 2023. This increase of 0.94% means that homes are selling for a higher percentage of their asking price, which is a positive sign for sellers.

Historically, the LSR in 2022 was 0.982, and in 2021 it was 0.977, so the market has seen steady growth in this metric over the past few years. A higher LSR is typically a sign of a seller’s market, where demand is high and buyers are willing to meet asking prices.

Average Days on Market

One of the most significant improvements in the Stony Plain housing market is the decrease in the average days on market. In 2024, homes are selling in an average of 53 days, down from 66 days in 2023. This represents a decrease of 19.7%, which is a clear indicator that homes are moving faster in the market.

This reduction in days on market may be attributed to several factors, including increased demand, fewer listings, and higher buyer confidence. With fewer homes on the market, competition for available properties is fiercer, leading to quicker sales.

What This Means for Buyers and Sellers

For buyers, the current market in Stony Plain presents both opportunities and challenges. On one hand, the increase in inventory and sales indicates that there are still options available. However, the rising prices and faster sales mean that you’ll need to act quickly and be prepared for competitive bidding situations.

For sellers, now is an excellent time to list your property. With prices on the rise, homes are selling faster, and sellers are receiving a higher percentage of their asking price. However, it’s essential to price your home strategically to attract the most qualified buyers, especially given the higher competition in the market.

Conclusion

The Stony Plain real estate market was thriving in 2024, with increasing listings, rising prices, and stronger sales numbers. Buyers and sellers alike can benefit from these positive trends, but it’s crucial to stay informed and act quickly in this fast-moving market. Whether you’re buying your first home, selling a property, or investing in real estate, understanding the latest data and trends will help you make the most informed decision.

If you’re considering buying or selling in Stony Plain, contact Christina Reid, REALTOR®, for expert guidance and personalized service.

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

Edmonton New Home Builders - Trends and Market Updates • 6 January 2025

Future of Home Building: Trends to Watch in Edmonton

by Christina Reid

Future of Home Building in Edmonton - Chris Reid Edmonton Realtor

The future of home building is a subject that captures the imagination of homebuyers, builders, and investors alike. With Edmonton’s ever-growing population and an increasing demand for innovative housing solutions, understanding the trends shaping the future of home construction is vital. From sustainability to smart home technology, the homebuilding landscape is evolving rapidly. Here, we delve into the most transformative trends in Edmonton’s home construction market.

1. Sustainability and Green Building Practices

Sustainability has transitioned from a buzzword to a cornerstone of modern construction. Builders in Edmonton are incorporating green building practices that minimize environmental impact while enhancing energy efficiency. These include:

Net-Zero Energy Homes: Edmonton builders are leading the way in creating homes that produce as much energy as they consume.
Sustainable Materials: Recycled and locally sourced materials are becoming standard.
Passive House Design: Super-insulated homes with advanced ventilation systems are gaining popularity.

In Edmonton, sustainable homes appeal not only for their eco-friendliness but also for long-term cost savings.

2. Smart Home Integration

The rise of the Internet of Things is revolutionizing home functionality. Smart home features are no longer a luxury; they are a necessity for many Edmonton buyers. Key features include:

Energy Monitoring Systems: Track energy usage and reduce waste.
Smart Security: Advanced cameras, motion detectors, and remote locking systems.
Voice-Controlled Devices: Seamless control of lighting, heating, and appliances.

Incorporating smart technology into new builds enhances convenience and resale value.

3. Customization and Personalization

Today’s buyers want homes that reflect their unique lifestyles. Edmonton builders are responding with flexible floor plans and a wide array of customization options. Popular trends include:

Home Offices: Dedicated spaces to accommodate remote work.
Multifunctional Rooms: Rooms that can adapt to changing needs, such as a guest room doubling as a gym.
Outdoor Living Spaces: Expanded patios and decks to enjoy Edmonton’s natural beauty.

This emphasis on customization allows buyers to create homes that truly fit their needs.

4. Smaller, Smarter Spaces

With rising costs and a focus on sustainability, smaller homes designed with intelligent layouts are in demand. Features driving this trend include:

Open Floor Plans: Maximizing perceived space.
Built-in Storage: Creative solutions like under-stair storage and wall-mounted furniture.
Tiny Homes: A growing niche in the Edmonton market for budget-conscious buyers.

Efficient design ensures these homes remain functional and stylish.

5. Resilience to Extreme Weather

With Alberta experiencing more frequent and severe weather events, building resilient homes is a priority. Edmonton builders are adopting:

Durable Materials: Impact-resistant roofs and weatherproof siding.
Advanced Insulation: To withstand Edmonton’s frigid winters.
Backup Energy Systems: Solar panels and battery storage to maintain power during outages.

These innovations offer peace of mind and long-term savings for homeowners.

6. Health and Wellness Features

Post-pandemic, health-conscious home designs are in demand. Edmonton builders are integrating features that promote wellness, including:

Air Purification Systems: High-quality HVAC systems with advanced filtration.
Natural Lighting: Large windows and skylights to boost mood and reduce energy use.
Indoor Gardens: Spaces for plants that improve air quality and mental health.

These features ensure that homes support the physical and mental well-being of their occupants.

7. Community-Oriented Developments

The concept of living extends beyond the home itself. Edmonton’s new developments emphasize community living with shared amenities like:

Green Spaces: Parks, walking trails, and communal gardens.
Shared Workspaces: Co-working hubs for remote professionals.
Retail and Dining: Integrated shops and restaurants within residential communities.

These developments foster a sense of belonging and convenience.

8. Energy Storage and Alternative Power Sources

Edmonton’s focus on renewable energy extends to homebuilding. Solar panels, wind turbines, and innovative energy storage solutions are becoming mainstream. Highlights include:

Home Batteries: Storing excess energy for nighttime use.
Geothermal Systems: Efficient heating and cooling from the earth.
Community Microgrids: Neighbourhoods sharing renewable energy resources.

These technologies reduce utility costs and carbon footprints.

9. 3D Printing in Construction

While still emerging, 3D printing is making waves in Edmonton’s construction scene. Benefits include:

Faster Construction: Completing homes in weeks instead of months.
Reduced Waste: Precision printing minimizes material usage.
Affordability: Lower labor and material costs make homes more accessible.

As technology advances, 3D-printed homes may become a common sight.

10. Augmented and Virtual Reality in Design

Cutting-edge technology is changing how homes are designed and sold. Edmonton builders are leveraging:

Virtual Tours: Immersive experiences for prospective buyers.
Augmented Reality Apps: Visualizing customizations in real-time.
Digital Twins: Detailed virtual replicas for precise planning.

These tools enhance the buyer experience and streamline the building process.

11. Renewed Focus on Accessibility

Inclusive design is gaining momentum in Edmonton. Builders are creating homes that accommodate residents of all ages and abilities, featuring:

Single-Level Living: Eliminating stairs for easier mobility.
Wide Doorways and Hallways: For wheelchair accessibility.
Smart Assistive Technology: Voice-activated devices for independent living.

Accessible homes ensure long-term comfort for all occupants.

12. Prefabricated and Modular Homes

Prefabrication is gaining popularity for its efficiency and quality. Edmonton builders are embracing:

Modular Construction: Assembling homes from pre-made sections.
Off-Site Manufacturing: Reducing build times and on-site disruptions.
Eco-Friendly Prefabs: Using sustainable materials and methods.

These homes offer a blend of affordability, durability, and customization.

13. Advanced Insulation Techniques

With Edmonton’s harsh winters, insulation is critical. Innovative techniques include:

Spray Foam Insulation: Superior air sealing and thermal performance.
Vacuum Insulated Panels: Ultra-thin and efficient.
Thermal Breaks: Reducing heat transfer in building materials.

These advancements enhance comfort and energy savings.

14. Integration of Renewable Energy Systems

Future homes in Edmonton will likely rely more on renewable energy systems. Builders are exploring:

Solar Roofing: Aesthetic and functional solar panel integration.
Wind Power Systems: For rural and suburban properties.
Hydroponic Energy Systems: Combining water and energy efficiency.

Renewables not only benefit the planet but also attract eco-conscious buyers.

15. Biophilic Design

Biophilic design emphasizes the connection between homes and nature. Edmonton builders are incorporating:

Natural Materials: Wood, stone, and bamboo.
Living Walls: Indoor vertical gardens.
Outdoor Integration: Seamless transitions between indoor and outdoor spaces.

These designs create tranquil, inspiring environments.

Final Thoughts

The future of home building in Edmonton is bright and full of innovation. From sustainability to smart technology, these trends are redefining what it means to build and own a home. For buyers and investors, staying informed about these developments ensures better decision-making and long-term satisfaction.

As Edmonton continues to grow, embracing these forward-thinking trends will keep the city at the forefront of modern living.

Have more questions on Future of Home Building: Trends to Watch 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!

Stony Plain Real Estate: Market Trends and Investment Opportunities • 5 January 2025

December 2024 Stony Plain Real Estate Sale Statistics

by Christina Reid

December 2024 Stony Plain Real Estate Market Trends Chris Reid Realtor

December 2024 Stony Plain Real Estate Sale Statistics

December 2024 Stony Plain, continues to be a prime location for homebuyers in Alberta. As we wrap up 2024, it’s clear that this town’s real estate market has shown remarkable growth and resilience. Whether you’re considering buying or selling, it’s important to understand the current trends and market dynamics to make an informed decision.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

December 2024: There were **27 new listings** in December, reflecting a 12.50% increase compared to the previous year. This increase in new listings indicates that more homeowners are willing to put their properties on the market, potentially due to favourable market conditions and rising home values.

YTD 2024: There were a total of 610 new listings, which is a 6.09% increase over 2023. This steady rise in new listings helps ensure that buyers have more options to choose from, balancing the increased demand.

Average Asking Price of Homes in Stony Plain

December 2024: The average asking price in Stony Plain was $451,000, a notable increase of 15.34% from December 2023. This rise in asking prices signals growing market confidence and higher home values in the area.
YTD 2024: The average asking price reached $411,000, which is a 9.08% increase compared to 2023. This shows that home prices are on the rise, indicating a healthy and appreciating market.

December 2024 Stony Plain Home Sales

December 2024: 37 properties were sold, marking a staggering 105.56% increase from the previous year. This surge indicates a rising demand for properties in Stony Plain, and it suggests that buyers are eager to invest in this community.
Year-to-Date (YTD) 2024: There were 508 properties sold, which represents a 31.61% increase from 2023. This year-over-year growth reflects a strong trend of increasing buyer activity.

Average Home Sale Price

December 2024: The average sale price for homes in Stony Plain was $343,000, which represents a 14.05% decrease from December 2023. This decline can be attributed to a mix of market conditions, such as an influx of more affordable homes entering the market.
YTD 2024: The average sale price for the year was $377,000, which is a 7.45% increase compared to 2023. This shows that while prices fluctuated in December, the overall year was one of growth and rising property values.

Ask-to-Sell Ratio

December 2024: The average ask-to-sell ratio was 98.2%, which is consistent with the previous year’s ratio of 98.8%. This indicates that sellers are generally receiving close to their asking prices, suggesting a relatively balanced market with strong demand.
YTD 2024: The year-to-date ask-to-sell ratio was 98.9%, showing a slight improvement over the previous year, reflecting a strong market where sellers are getting near their asking prices for most homes.

Average Days on Market

December 2024: Properties in Stony Plain are taking an average of 72 days to sell, which is a 12.50% increase compared to the previous year. This slight increase could be a result of the higher asking prices, meaning buyers may be taking more time to make their purchasing decisions.
YTD 2024: Homes took an average of 53 days to sell, a 19.70% decrease from 2023. This suggests that while some properties may take longer to sell in December, the overall trend for 2024 was a faster-paced market, with homes selling more quickly throughout the year.

Why the Stony Plain Real Estate Market is Booming

Several factors contribute to the current boom in the Stony Plain real estate market. Let’s take a closer look at these drivers:

1. Proximity to Edmonton

Stony Plain offers the best of both worlds: the charm and tranquility of a small town, combined with close proximity to the city of Edmonton. Homebuyers looking to escape the hustle and bustle of the city often find Stony Plain to be a desirable alternative. Its convenient location, just 30 minutes from downtown Edmonton, makes it an ideal place for commuters who want to enjoy a quieter lifestyle without sacrificing easy access to the city’s amenities.

2. Affordability

Stony Plain continues to offer more affordable housing options compared to Edmonton and its surrounding areas. The average asking price in Stony Plain is significantly lower than in Edmonton, making it an attractive option for first-time homebuyers or those looking to downsize. As Edmonton’s housing prices increase, many buyers are turning to Stony Plain for more value-oriented options.

3. Community Appeal

Stony Plain is known for its tight-knit community and small-town atmosphere. It has a rich history and offers plenty of recreational opportunities for residents, including parks, walking trails, and community events. These factors make it an appealing place for families, retirees, and anyone looking for a more relaxed lifestyle.

4. Growth and Development

The town of Stony Plain is experiencing steady growth, with new businesses and developments springing up throughout the area. This growth is helping to increase demand for housing, as people are attracted by the expanding job opportunities and the potential for long-term investment. Furthermore, ongoing infrastructure improvements continue to enhance the town’s livability, making it even more attractive to potential buyers.

What This Means for Buyers and Sellers

For Buyers:

The Stony Plain real estate market offers exciting opportunities, but buyers should be prepared for competition, especially in the lower price range where demand is strong. The increase in asking prices and the low days on market indicate that properties are selling quickly, and buyers need to act fast to secure their ideal home. However, with a variety of options available and the town’s affordable pricing compared to Edmonton, buyers can still find great value in Stony Plain.

For Sellers:

Sellers in Stony Plain are in a favourable position, with rising home values and a strong ask-to-sell ratio. If you’re thinking of selling, now is an excellent time to take advantage of the market’s upward trend. With properties selling relatively quickly and close to asking prices, sellers can expect a smooth transaction if they price their homes competitively and make necessary updates to enhance their property’s appeal.

Stony Plain Market Outlook for 2025

Looking ahead to 2025, the Stony Plain real estate market is expected to remain strong. With steady population growth, a stable economy, and an appealing location near Edmonton, demand for properties in this area is likely to continue. Buyers and sellers alike can look forward to a competitive market with ample opportunities for those who are well-prepared.

Conclusion

Stony Plain’s real estate market in December 2024 shows promising signs of growth and activity, making it an ideal time for both buyers and sellers to explore their options. Whether you’re a first-time buyer, a growing family, or someone looking to downsize, Stony Plain offers a diverse range of housing opportunities. As always, it’s essential to stay informed and work with an experienced real estate professional to navigate the market successfully.

If you’re considering buying or selling in Stony Plain, contact Christina Reid, REALTOR®, for expert guidance and personalized service.

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 • Rural Strathcona County Real Estate: Market Trends and Investment Opportunities • 5 January 2025

Strathcona County Real Estate Market: A 2024 Review

by Christina Reid

Strathcona County real estate market 2024 review Chris Reid Realtor

Strathcona County Real Estate Market: A 2024 Review

Strathcona County real estate has become an increasingly sought-after market. A sprawling area to the southeast of Edmonton, is a desirable location for those looking for a rural escape while staying close to urban amenities. With its abundance of acreages, beautiful landscapes, and proximity to the city. This blog provides a comprehensive look into the Strathcona County real estate market in 2024, using the latest statistics to give buyers and sellers a clearer understanding of the market dynamics.

2024 Market Overview

The Strathcona County real estate market has seen notable shifts in key metrics over the past year. When comparing 2024 to 2023, the market shows a mix of price increases, higher listing activity, and a boost in sales. Let’s take a closer look at some key trends that have defined the market in 2024.

Bar graphs below are interactive

Strathcona County -Acreage Listings

Listings and Inventory

In 2024, Strathcona County saw a 10.83% increase in the number of new listings, rising from 554 properties in 2023 to 614 properties listed in 2024. While the increase in listings indicates a more active market, it also shows that sellers are responding to the rising demand in the area. However, when comparing 2024 to the past few years, there was a 4.51% decrease in new listings compared to 2022, and a more significant 9.84% decrease compared to 2021. This could suggest a market correction after the surge in listings in earlier years.

Strathcona County – Average Acreage List Price

The average list price for properties in Strathcona County increased by 2.04%, rising from $886,000 in 2023 to $904,000 in 2024. This increase follows a trend of rising property values in the area, marking a 13.45% increase from 2021. This upward trajectory is reflective of growing demand for larger properties, particularly those on acreages, as more buyers seek rural living with modern conveniences. Despite this increase, the average list price has remained relatively steady compared to 2022, showing only a 3.10% growth.

Total Inventory Cost

The total cost of listed inventory in Strathcona County saw a notable increase of 13.10%, reaching $555 million in 2024. This marks a significant shift from $491 million in 2023. However, it’s worth noting that this increase comes after a slight decrease of 1.55% from 2022, and an increase of 2.29% when compared to 2021. Higher total inventory costs are consistent with higher listing prices and the increased demand for premium properties, particularly larger estates and acreages.

Strathcona County –Acreage Sales

The total number of sales in Strathcona County saw a remarkable increase of 30.24% in 2024. From 291 sales in 2023, the number jumped to 379 sales in 2024. This uptick is a positive sign for the market, as more buyers are finding their way to Strathcona County. The sales volume increase can also be attributed to the strong demand for rural properties with space for larger homes and outdoor amenities. Despite the growth from 2023, sales are down 20.88% compared to 2021, a sign that the market is stabilizing after the surge seen during the pandemic.

Strathcona County Real Estate Market –Acreage Average Sales Price

The Strathcona County Acreage Market: Pricing Trends

Average Sales Price

In 2024, the average sale price for properties in Strathcona County reached $756,000, reflecting a 6.22% increase from 2023. This growth in sales price is indicative of a market that has been experiencing upward pressure due to high demand and a lack of sufficient inventory. The price increase is further evidenced when comparing 2024 to previous years, showing an 11.52% rise from 2021, where the average sale price was $678,000.

List-to-Sell Ratio

The average list-to-sell ratio (LSR) in 2024 stands at 0.968, which is slightly down from 0.969 in 2023. However, the decrease is minimal, indicating that properties are still selling close to their asking prices. This suggests that the market remains competitive, with buyers willing to pay near the listing price for properties that meet their needs. When comparing 2024 to earlier years, the LSR is slightly lower than in 2022, where it stood at 0.979.

Strathcona County Acreage Average Days on Market

Properties in Strathcona County are selling faster in 2024, with the average days on market (DOM) decreasing by 4.49%, from 89 days in 2023 to 85 days in 2024. The decrease in DOM indicates a quicker turnover, likely driven by higher buyer demand. Compared to 2021, when properties sat on the market for an average of 94 days, the current market is showing positive signs of faster transactions, which is attractive for both sellers and buyers.

The Outlook for 2025 and Beyond

As we move through 2025, Strathcona County’s real estate market is showing signs of steady growth. The increased number of listings and the upward trend in both listing prices and sales volumes highlight a healthy and competitive market. Buyers are finding that Strathcona County offers an excellent mix of rural charm and proximity to Edmonton’s amenities, making it an attractive location for families, professionals, and those looking for a more peaceful lifestyle.

While the increase in sales is a positive sign, the decrease in total sales volume when compared to 2021 may indicate that the market has cooled slightly after the frenzy of previous years. Nonetheless, with the average days on market decreasing and properties selling close to their asking prices, it’s clear that demand remains high, and the market remains competitive.

For buyers looking for rural properties in Strathcona County, the market in 2025 presents a great opportunity, with a variety of options available across different price ranges. Sellers, on the other hand, can expect competitive offers and relatively quick sales, especially if they price their homes correctly.

Conclusion

The Strathcona County real estate market in 2024 has seen significant growth in listings, sales, and prices, making it a vibrant and dynamic market. Whether you’re a buyer or a seller, understanding the trends in this market is essential for making informed decisions. With a rise in property values, increased demand for acreage properties, and faster sales, Strathcona County is poised for continued growth and success in the real estate sector.

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 Acreages in Strathcona County?

Whether you’re a buyer eager to find your perfect rural retreat or a seller ready to capitalize on this favourable market, I’m here to help. Reach out to explore available properties or to discuss your goals.

CONTACT ME HERE

Strathcona County Website

5 January 2025

December 2024 Rural Strathcona County Real Estate Market

by Christina Reid

December 2024 Rural Strathcona County Real Estate Market

Strathcona County, located just outside of Edmonton, offers the perfect balance of rural tranquility and urban accessibility. The real estate market for December 2024 Rural Strathcona County acreages in this region has experienced notable shifts in 2024, making it an exciting time for both buyers and sellers. Whether you are seeking the peace of rural living or looking to sell your property in a growing market, understanding the current market trends is essential.

Overview of Strathcona County Acreage Market in 2024

December 2024 Rural Strathcona County Real Estate Market has been on an upward trajectory, with several key metrics reflecting a strong and active market. There has been a remarkable increase in the number of sold properties, with a year-to-date (YTD) total of 379 sold homes, a 30.24% increase from the previous year. This surge in sales points to a growing demand for acreage properties in the area, which continues to attract those seeking a peaceful retreat within easy reach of Edmonton’s amenities.

Bar graphs below are interactive

Strathcona County -Acreage Listings

In 2024, the number of new listings in Strathcona County has decreased by 66.67%, with just 9 new listings in December, compared to a year-to-date total of 614. This reduction in new listings could be a sign that many homeowners are holding on to their properties in anticipation of further price increases or due to the lack of suitable alternatives in the market.

Strathcona County – Average Acreage List Price

Average Asking Price Trends

In terms of pricing, the average asking price for acreage properties in Strathcona County saw a slight decline in 2024, dropping by 7.36% compared to the previous year.

Strathcona County –Acreage Sales

Increased Property Demand

The demand for Strathcona County acreages is robust, evidenced by the 36.36% increase in sold properties in December 2024 compared to the previous year. This growing interest in rural properties comes at a time when more homebuyers are prioritizing space and privacy, especially in light of the work-from-home trend. Families and professionals alike are finding Strathcona County to be an ideal location for their acreage lifestyle, as the area offers large parcels of land, scenic views, and a strong sense of community, all just a short drive from Edmonton.

Strathcona County Real Estate Market –Acreage Average Sales Price

The Strathcona County Acreage Market: Pricing Trends

The average sale price has risen by 10.90%, indicating that buyers are still willing to invest in this market despite higher property prices. The average sale price in December 2024 was $888,000, compared to $756,000 year-to-date, marking a 6.22% increase from 2023. This pricing trend reflects a solid market where demand outstrips supply, keeping property values elevated.

These fluctuations are typical of a healthy, dynamic market where sellers are able to list their properties for a higher price due to the increased demand, while buyers are willing to meet these prices to secure their ideal rural home.

Ask-to-Sell Ratio: Narrowing the Gap

YTD Ask-to-Sell Ratio: The ask-to-sell ratio for 2024 stands at 0.980, a slight increase of 1.45% compared to previous years. This close alignment between asking and selling prices highlights the strategic pricing from sellers, allowing them to receive offers close to their initial price.
Market Stability Indicator: The ask-to-sell ratio is an indicator of market balance and stability. A high ratio in 2024 shows that buyers are willing to meet seller expectations, provided the pricing reflects the property’s fair market value.

This trend shows the confidence of sellers in maintaining their listing prices, which is largely backed by strong buyer demand and property valuation trends in Strathcona.

Strathcona County Acreage Average Days on Market

Despite fewer listings, properties are selling faster in December 2024 Rural Strathcona County Real Estate Market. The average number of days on market has dropped by 17.78%, with the average time to sale in December 2024 standing at 74 days, down from 85 days in the previous year. This shortened timeline suggests a more competitive market, where well-priced, well-maintained acreage properties are moving quickly, benefiting both sellers and buyers who are ready to make decisions.

The Appeal of Acreage Living in Strathcona County

The appeal of acreage properties in Strathcona County is multi-faceted. For those looking to move away from the hustle and bustle of the city, Strathcona County provides a peaceful rural setting without sacrificing convenience. It offers ample space for activities such as gardening, equestrian pursuits, and outdoor entertaining, while still being within close proximity to all the amenities Edmonton has to offer. For buyers who value both tranquility and accessibility, Strathcona County is a prime destination.

Moreover, acreage properties here are often equipped with expansive homes and modern facilities, making them attractive to families and professionals looking to upgrade their living arrangements. The area’s natural beauty, with scenic landscapes and abundant green spaces, further adds to its allure.

What Buyers Should Know About Strathcona County Acreages

For prospective buyers, there are several key factors to keep in mind when considering acreage properties in Strathcona County:

Space and Privacy: One of the primary reasons people seek out acreage properties is the desire for space. Whether it’s for gardening, building a workshop, or simply enjoying the privacy that comes with a larger lot, Strathcona County has a lot to offer.
Proximity to Edmonton: While Strathcona County provides a rural lifestyle, it is still very much connected to the city. The short commute to Edmonton makes it ideal for those who want to enjoy the perks of city life without living in the heart of the urban sprawl.
Property Taxes: Acreage properties may come with a higher property tax burden due to their size and location. Buyers should factor this into their budget and ensure they can comfortably manage the additional costs.
Zoning and Development: Buyers should be aware of local zoning laws and land-use regulations that could affect future plans for their property. It’s always a good idea to work with a local realtor who can guide you through these complexities.

What Sellers Should Know About Strathcona County Acreages

Sellers in Strathcona County are benefiting from a market that favours their position, with high demand and rising prices. However, the reduced number of new listings means that sellers need to be strategic with their approach. Here are some key tips for sellers:

Pricing Your Property: With the average sale price on the rise, pricing your acreage correctly is essential to attract the right buyers. Work with a real estate agent who understands the local market trends and can help you set a competitive price that reflects the true value of your property.
Preparing Your Property for Sale: Buyers are looking for well-maintained properties, so ensuring your acreage is in tip-top shape before listing it is crucial. Invest in necessary repairs, landscaping, and staging to make a strong first impression.
Marketing Your Listing: A strategic marketing plan is essential to get your property in front of the right buyers. Consider professional photography, virtual tours, and targeted online listings to make your acreage stand out.

Conclusion

Strathcona County’s acreage market is thriving in 2024, with a noticeable uptick in both sales and prices. Buyers are drawn to the rural lifestyle and proximity to Edmonton, while sellers are capitalizing on strong demand and increasing property values. Whether you’re considering buying or selling in the area, now is an excellent time to enter the Strathcona County acreage market.

For more information about available acreage properties in Strathcona County or to discuss your real estate needs, feel free to reach out. With the right strategy and insight, you can make the most of the current market trends and find the perfect property to call 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.

Looking to Buy or Sell Acreages in Strathcona County?

CONTACT ME HERE

Strathcona County Website

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