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

by Christina Reid

Strathcona County Acreage Sales Statistics Chris Reid Realtor

Rural Strathcona Country Real Estate Market- Sales Statistics September 2024

Rural Strathcona County offers a unique opportunity for those seeking the quiet of the countryside with easy access to the bustling urban amenities of nearby Edmonton. The rural acreage market in Strathcona County has shown strong, notable trends in 2024, offering insights that can benefit buyers, sellers, and real estate investors. In this post, we’ll explore the trends driving demand, market performance data, and provide a forecast for this market.

Strathcona County Acreage Market: A 2024 Snapshot

In 2024, the rural acreage market of Strathcona County continued to captivate buyers looking for expansive properties. Data collected shows a generally active market with fluctuations in demand and value.

Key Market Highlights for 2024:

Sold Properties in September 2024: 32, marking a 3.03% decrease compared to September 2023.
Year-to-Date (YTD) Sold Properties: 291 in 2024, an 18.29% increase from 246 in 2023.
Average Asking Price: $1.07M, reflecting a 23.11% increase year-to-date compared to last year.
Average Sale Price for September 2024: $769K, a 20.28% rise from the previous year.
Days on Market Until Sale: While data is not specified, other metrics suggest quickened sale times.
Average Ask-to-Sell Ratio: 81.00, up by 6.58%, signalling a strong seller’s market.

Bar graphs below are interactive

Strathcona County -Acreage Listings

The rural Strathcona County acreage market saw 49 new listings in September 2024, a year-to-date decline of 10.91% compared to last year’s figures. With 529 listings so far in 2024, up 13.28% from 467 in 2023, it’s clear that there’s still a steady influx of properties.

The decline in new listings on a month-to-month basis points toward tightening inventory. This could mean buyers are moving quickly on available properties, potentially driving up prices as demand outpaces supply. For sellers, this might be an ideal time to list, as less competition can lead to higher sale prices.

Strathcona County – Average Acreage List Price

Strathcona County’s acreage market is seeing impressive price increases, highlighting the demand for rural properties:

Average Asking Price: The average asking price as of September 2024 is $1.07 million, a remarkable 23.11% increase year-to-date over 2023. This substantial hike could be due to increased demand, limited supply, and higher-quality listings in the rural market.

Strathcona County –Acreage Sales

The number of sold properties in Strathcona County’s rural acreage market has experienced noticeable growth in 2024. By September, 291 properties had been sold year-to-date, an impressive increase of 18.29% over last year’s 246 properties sold during the same period. This rise suggests a growing interest among buyers, particularly in rural acreage properties, driven by the appeal of extra space and proximity to nature.

In September 2024 alone, 32 properties were sold, a slight dip of 3.03% from September 2023. Although this is a minor decrease, the overall annual growth trajectory indicates a robust market.

Why is this important?

The rising number of property sales reflects both sustained interest and a possible limited inventory in Strathcona County. Buyers are eager to secure these properties, suggesting they see long-term value in rural real estate here. Investors and potential sellers can take note: with an 18.29% increase in YTD sales, demand is evidently strong.

Strathcona County Real Estate Market –Acreage Average Sales Price

Average Sale Price: In September 2024, properties sold for an average of $769,000, up 20.28% from last year. Year-to-date, the average sale price stands at $753,000, which is 6.10% higher than in 2023.

The rise in both asking and selling prices indicates a strong seller’s market, where properties are commanding higher values. This price increase underscores that buyers value the benefits of Strathcona’s rural lifestyle and are willing to pay a premium.

Analyzing the Ask-to-Sell Ratio

An essential metric for understanding the market’s health, the ask-to-sell ratio in Strathcona County is 81.00, a 6.58% rise compared to last year. This ratio indicates that properties are selling close to the asking price, which suggests high buyer interest and limited room for negotiation. A ratio of this level indicates that sellers are achieving their desired price points, which is beneficial for sellers but adds urgency for buyers who may be looking to enter the market.

Strathcona County Acreage Average Days on Market

Days on Market: Faster Sales Reflect a Hot Market

While precise data on days on the market for September 2024 is not detailed, we know that the reduced inventory and increased demand likely correlate with shorter sales periods. Homes that are priced competitively and marketed effectively are selling quickly, highlighting a market where motivated buyers are ready to close deals promptly.

For buyers, this means moving quickly to secure desired properties. For sellers, it provides confidence that a well-priced, desirable property is likely to attract offers soon after listing.

Monthly Sales Performance: Year-Over-Year Comparison

Looking at the monthly basis for the number of sold properties:

2024 Monthly Average Sold Properties: 84
2023 Monthly Average Sold Properties: 86

This -2.33% change indicates slight monthly volatility. However, the consistent YTD sales increase shows that these slight fluctuations are part of a larger trend of growth in interest.

Investment Outlook for Strathcona County Acreages

For those considering investment in rural Strathcona County acreages, the data paints a promising picture. The consistent rise in average asking and selling prices, coupled with the strong demand, suggests that properties are likely to appreciate in value. The 23.11% increase in average asking price and the 20.28% surge in average sale price indicate a high potential for return on investment in this area.

Given the appeal of spacious rural properties and the proximity to urban centres, Strathcona County’s real estate appears to be an excellent investment option, particularly as land availability near urban centres diminishes.

Strathcona County Acreages: Future Outlook and Trends

The rural acreage market in Strathcona County has demonstrated remarkable resilience and growth. Looking ahead, we anticipate continued interest and demand for properties in this area, supported by several factors:

Post-Pandemic Lifestyle Shifts: Many buyers are seeking rural spaces that provide tranquility and proximity to nature, especially with increased opportunities for remote work.
Limited Inventory and Rising Demand: With fewer properties coming on the market, scarcity could continue to push prices higher, making it an opportune time for sellers.
High-Quality Amenities and Access to Edmonton: Strathcona County offers a balance of rural lifestyle with access to modern amenities, making it attractive for families, retirees, and investors alike.

Conclusion

Strathcona County’s rural acreage market in 2024 reflects strong growth and solid investment potential. With an 18.29% increase in sold properties year-to-date, a 23.11% rise in average asking price, and a 20.28% boost in average sale price, the numbers indicate a vibrant and competitive market. The reduced monthly listings, high ask-to-sell ratio, and shorter days on the market reflect a seller’s advantage, while buyers continue to show willingness to meet rising price expectations.

For those interested in exploring the acreage market in Strathcona County, these trends offer compelling reasons to act now, whether buying, selling, or investing. Strathcona’s blend of natural beauty, strong market demand, and proximity to Edmonton makes it one of the most desirable rural locations in Alberta. As we move forward, staying informed about these shifts will empower you to make the most of this flourishing 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 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

Fort Saskatchewan Real Estate Market Statistics- July 2024

by Christina Reid

Fort Saskatchewan Real Estate Market Statistics – July 2024

Fort Saskatchewan, a charming city just northeast of Edmonton, is known for its blend of urban amenities and small-town feel. With a robust industrial sector, beautiful parks, and a strong sense of community, Fort Saskatchewan has become an attractive destination for homebuyers. This blog delves into the real estate trends and statistics for Fort Saskatchewan in 2024, providing a comprehensive overview of the market’s performance and what it means for buyers, sellers, and investors.

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

There were 82 new listings in July 2024, a slight decrease of 2.38% from July 2023.

Fort Saskatchewan Average List Price

The average asking price for homes in Fort Saskatchewan stood at $460K in July 2024, up 9.29% from July 2023.

Fort Saskatchewan Home Sales

There were 70 properties sold in July 2024, a 7.69% increase from July 2023. Year-to-date (YTD) 2024 saw 496 properties sold, marking a substantial 27.84% increase from 2023.

Fort Saskatchewan Average Home Sale Price

The average sale price was $462K in July 2024, reflecting an 11.38% increase compared to the previous year.

Average Sale Price YTD: The YTD average sale price in 2024 is $436K, up 7.69% from $405K in 2023.

Monthly Sales Price Trends: The monthly sales price has seen consistent growth, with July 2024 reaching $460K compared to $412K in July 2023, showing the market’s upward trajectory.

Average Ask to Sell Ratio YTD: The ratio has improved from 0.982 in 2023 to 0.991 in 2024, indicating that homes are selling closer to their asking prices.

Fort Saskatchewan -Average Days on Market

The average number of days on market (DOM) until sale has decreased from 74 days in 2023 to 63 days in 2024, a reduction of 14.86%. This metric is crucial as it reflects the market’s speed and the demand for properties. A lower DOM typically suggests a seller’s market, where homes sell faster due to higher demand.

Several factors contribute to the current trends in Fort Saskatchewan’s real estate market:

Economic Growth: Fort Saskatchewan’s economy has been bolstered by its industrial sector, particularly in oil and gas, petrochemicals, and manufacturing. This economic stability attracts new residents and boosts demand for housing.
Population Growth: The city’s population growth has been steady, driven by its affordability compared to nearby Edmonton and its appeal to families and professionals seeking a suburban lifestyle.
Infrastructure and Amenities: Fort Saskatchewan offers excellent infrastructure, including schools, healthcare facilities, parks, and recreational areas, making it a desirable place to live.
Proximity to Edmonton: Its close proximity to Edmonton provides residents with easy access to urban amenities while enjoying a quieter, more relaxed environment.

Investment Opportunities

The Fort Saskatchewan real estate market presents several investment opportunities:

Rental Properties: With the city’s growing population and economic stability, rental properties can offer steady income. The demand for rental housing remains strong, particularly among workers in the industrial sector.
New Developments: Investing in new housing developments can be lucrative given the rising demand and limited inventory. Developers can capitalize on the need for modern, energy-efficient homes.
Commercial Real Estate: The industrial growth in Fort Saskatchewan also opens opportunities for commercial real estate investments, particularly in retail and office spaces catering to the growing workforce.

Challenges and Considerations

Despite the positive trends, there are challenges and considerations for potential buyers and investors:

Market Competition: The increased demand and limited new listings can lead to intense competition among buyers, driving up prices and making it challenging to secure desired properties.
Economic Dependence: The city’s economy is heavily reliant on the industrial sector, particularly oil and gas. Fluctuations in these industries can impact the real estate market.
Interest Rates: While current low-interest rates have fueled market growth, any potential increases could affect affordability and demand.

Future Outlook

The future outlook for Fort Saskatchewan’s real estate market remains positive. Continued economic growth, population increases, and infrastructure development are expected to sustain demand. The market is likely to remain competitive, with steady price appreciation and reduced days on market.

Investors and buyers should stay informed about market trends and be prepared to act quickly in this dynamic environment. With the right strategies, there are ample opportunities to benefit from Fort Saskatchewan’s thriving real estate market.

Conclusion

Fort Saskatchewan’s real estate market in 2024 has shown robust growth and resilience. The increase in sold properties, rising average prices, and reduced days on market highlight a vibrant and competitive market. While there are challenges to navigate, the city’s economic stability, population growth, and excellent amenities make it an attractive destination for homebuyers and investors alike.

As the market continues to evolve, staying informed and adaptable will be key to making the most of the opportunities in Fort Saskatchewan’s real estate landscape. Whether you’re looking to buy, sell, or invest, this thriving market offers promising prospects for the future.

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 Stats • St. Albert Real Estate Market Stats • 5 August 2024

St. Albert Housing Market Real Estate Statistics – July 2024

by Christina Reid

St. Albert Housing Market Real Estate Statistics – July 2024

St. Albert housing market: A Comprehensive 2024 Analysis. Nestled just north of Edmonton, St. Albert is a vibrant city known for its family-friendly atmosphere, excellent amenities, and strong community spirit. The St. Albert real estate market has seen significant changes and developments over the past year. In this blog, we will delve into the latest statistics, trends, and factors influencing the St. Albert housing market as of 2024.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

The number of new listings has grown significantly as well. In 2024, there were 1,264 new listings, a 42.18% increase from the 1,195 new listings recorded in 2023. This influx of new listings suggests that more homeowners are looking to capitalize on the strong market conditions by putting their properties up for sale.

St. Albert Real Estate- Average List Price

The average asking price for homes in St. Albert has also seen a notable increase. In July 2024, the average asking price was $504,000, reflecting a 10.36% rise from July 2023. Year-to-date, the average asking price stands at $501,000, which is an 8.22% increase from the previous year.

St. Albert Home Sales

The St. Albert housing market has experienced substantial growth in the number of sold properties. In July 2024, there were 158 sold properties, marking a 26.40% increase from July 2023. Year-to-date (YTD) 2024 statistics show that 940 properties were sold, representing a 21.76% increase compared to the same period in 2023. This surge in sales indicates a robust demand for homes in St. Albert.

St. Albert Average Sale Price of Homes

The average sale price in St. Albert has followed a similar upward trajectory. In July 2024, the average sale price was $504,000, a 10.36% increase from July 2023. Year-to-date, the average sale price is $501,000, representing an 8.22% increase from the previous year. These figures highlight the increasing value of properties in St. Albert, making it an attractive market for both buyers and sellers.

Analyzing the monthly sales price trends provides a clearer picture of the market dynamics throughout the year. The average monthly sales price in July 2024 was $504,000, marking a 10.36% increase from July 2023. This consistent growth trend is also evident in the year-to-date figures, with the average monthly sales price standing at $501,000, an 8.22% rise from the previous year.

The average ask to sell ratio provides insight into how close the final sale price is to the original asking price. In 2024, this ratio was 1.001, a 1.79% increase from the previous year’s ratio of 0.983. This indicates that homes are selling very close to their asking prices, reflecting a competitive market where buyers are willing to meet sellers’ expectations.

St. Albert Days on MLS®

Another crucial metric in the real estate market is the average number of days a property stays on the market before being sold. In 2024, the average days on market until sale was 51 days, a significant decrease of 17.74% from 62 days in 2023. This reduction in the time it takes to sell a home further underscores the strong demand and the quick pace at which properties are being purchased.

Historical Perspective

To understand the St. Albert real estate market better, it’s essential to look at historical data. In January 2022, the average sales price was $412,000, which increased to $406,000 in January 2023. By July 2022, the average price had risen to $486,000, and in July 2023, it reached $469,000. This steady increase over the past few years demonstrates a sustained upward trend in property values in St. Albert.

Market Segmentation

Breaking down the market into different segments, such as condos, single-family homes, and townhouses, can provide more detailed insights. The average sale price for single-family homes has seen a significant rise, while the condo market has also shown strong growth, reflecting the diverse demand across different property types.

Factors Influencing the St. Albert Housing Market

Several factors contribute to the trends observed in the St. Albert real estate market.

Economic Conditions: The overall economic health, including employment rates and income levels, plays a significant role in the housing market. A stable economy with low unemployment rates typically boosts consumer confidence, leading to increased home purchases.
Interest Rates: Mortgage interest rates are a critical factor. Lower interest rates make borrowing cheaper, encouraging more people to buy homes. Conversely, higher rates can dampen demand.
Population Growth: St. Albert’s population growth has been a key driver of housing demand. As more people move to the city, the need for housing increases, pushing up prices and sales.
Urban Development: Ongoing development projects, including new residential communities and infrastructure improvements, enhance the attractiveness of St. Albert as a place to live, further fueling demand.
Government Policies: Policies at the municipal, provincial, and federal levels, such as tax incentives for first-time homebuyers or regulations affecting property development, can significantly impact the market dynamics.

Future Outlook

Looking ahead, the St. Albert real estate market is expected to continue its growth trajectory. The combination of strong demand, rising prices, and a steady influx of new listings suggests that the market will remain vibrant. However, potential changes in interest rates or economic conditions could influence the pace of growth.

Conclusion

The St. Albert real estate market in 2024 has shown remarkable growth across various metrics, including sold properties, average asking and sale prices, and new listings. This thriving market reflects the city’s appeal as a desirable place to live, work, and raise a family. Whether you’re a buyer, seller, or investor, understanding these trends and factors can help you make informed decisions in this dynamic market.

For potential buyers and investors, St. Albert offers a promising market with appreciating property values and a variety of new listings. Sellers can take confidence in the quick turnaround times and the stable average asking prices. Overall, the St. Albert real estate market in 2024 presents a dynamic and attractive opportunity for all stakeholders.

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

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

St. Albert Website

Parkland County Real Estate Market Statistics • Parkland County Real Estate Market Statistics • 5 August 2024

Parkland County Acreage Sales Statistics July 2024

by Christina Reid

Parkland County Acreage Sales Statistics – July 2024

## Parkland County Acreage Sales: Trends and Insights for 2024

The real estate market in rural Parkland County, known for its expansive acreages and serene landscapes, has been experiencing significant shifts in 2024. The following blog will delve into these changes, offering a comprehensive analysis based on the latest statistics. Whether you’re a potential buyer, seller, or real estate enthusiast, this detailed exploration will provide valuable insights into the current market dynamics.

Below Graphs Are Interactive

Parkland County Acreage Listings

The number of new listings has slightly decreased in 2024, with 696 new listings compared to 723 in 2023, marking a 3.73% decline. This reduction in new listings could be a result of various factors, including a more cautious approach by sellers or a lag in property turnover.

Fewer new listings in the market can lead to increased competition among buyers, potentially driving up prices and reducing the days properties remain on the market.

Parkland County Average List Price

The average asking price for acreages in Parkland County has also seen an upward trend. In 2024, the average asking price is $789K, reflecting a 12.72% increase from 2023’s average of $708K. This increase in asking prices indicates a strong seller’s market, with properties appreciating in value.

Comparing year-over-year data, the average asking price in 2023 was $622K, showing a 13.86% increase to $708K in 2024. This steady rise in asking prices suggests that the market for rural acreages is robust, with sellers confident in the market’s ability to absorb higher prices.

Parkland County Acreage Sales

Sold Properties

The number of sold properties in rural Parkland County has seen a notable increase in 2024. As of July, 72 properties have been sold, representing a 30.91% increase from the same period in 2023. Year-to-date (YTD) statistics also show a significant rise, with 387 properties sold in 2024 compared to 327 in 2023, marking an 18.35% increase.

This uptick in sales to Parkland County acreage sales can be attributed to several factors, including an increased demand for rural properties, possibly driven by a desire for more space and privacy post-pandemic. Additionally, the rising interest in sustainable living and self-sufficiency has made acreages more attractive to buyers looking to invest in properties that offer more than just residential space.

Parkland County Acreage Average Sale Price

The average monthly sales price in July 2024 was $575K, a 14.03% decrease from July 2023. Despite this monthly dip, the year-to-date average sales price in 2024 is $598K, which represents a 4.89% increase from 2023. This fluctuation can be indicative of seasonal variations in the market or the nature of properties sold in specific months.

It’s crucial to consider these monthly variations within the broader context of yearly trends. The overall increase in the average sales price YTD suggests a positive market trajectory, even if some months exhibit temporary declines.

The average ask to sell ratio in 2024 is 0.972, a modest increase from 0.964 in 2023. This ratio indicates that properties are selling very close to their asking prices, underscoring a competitive market where buyers are willing to meet seller expectations.

A higher ask to sell ratio is a positive indicator for sellers, as it suggests minimal negotiation on prices and strong buyer commitment.

Parkland County Acreage Days on Market

The average number of days on the market for properties in Parkland County has increased slightly to 95 days in 2024, up by 2.15% from 2023. Despite this increase, the average time to sell remains relatively short, indicating a healthy demand for rural acreages.

A slight increase in days on market can provide buyers with a bit more time to make informed decisions, but it also suggests that properties are still moving at a steady pace, reflecting a balanced market.

Factors Driving Market Trends

Increased Demand for Space: The pandemic has shifted many people’s priorities, with a growing preference for more spacious and private living environments. Acreages in rural Parkland County offer an ideal solution for those seeking a retreat from urban congestion.
Investment in Rural Properties: There is a rising interest in investing in rural properties, not just for residential purposes but also for agricultural and recreational use. This multifaceted utility of acreages adds to their appeal.
Sustainable Living: The trend towards sustainable and self-sufficient living has made acreages more desirable. Properties with the potential for farming, renewable energy installations, and other eco-friendly features are particularly attractive.
Economic Factors: The overall economic conditions, including interest rates and employment levels, play a significant role in real estate trends. Favorable economic conditions can boost buyer confidence and drive market activity.

Challenges and Considerations

Seasonal Variations: The real estate market is inherently subject to seasonal fluctuations. It’s important for both buyers and sellers to consider these variations when making decisions.
Property Maintenance: Acreages require more maintenance and management compared to urban properties. Prospective buyers need to be prepared for the additional responsibilities that come with owning larger parcels of land.
Market Saturation: While demand is currently high, there’s a risk of market saturation if too many properties are listed simultaneously. Monitoring new listings and market absorption rates is crucial to avoid this scenario.

Predictions for the Coming Year

Steady Price Growth: Given the current trends, it’s likely that property prices will continue to grow, albeit at a potentially slower rate as the market stabilizes.
Sustained Demand: The demand for rural properties is expected to remain strong, driven by the ongoing interest in spacious and sustainable living.
Technological Integration: The use of technology in real estate transactions, from virtual tours to online marketplaces, will continue to grow, making it easier for buyers and sellers to navigate the market.

Conclusion

The rural Parkland County acreage market is experiencing a dynamic and promising year in 2024. With significant increases in sold properties, rising average asking prices, and a healthy demand, the market shows strong potential for both buyers and sellers. However, it’s essential to stay informed about market trends, seasonal variations, and the unique challenges of owning and maintaining acreages.

Whether you’re looking to buy a tranquil retreat or sell a valuable property, understanding these market dynamics will help you make informed and strategic decisions. The future of the Parkland County acreage market looks bright, with continued interest in rural living and sustainable lifestyles driving growth and innovation in the real estate sector.

By staying abreast of these trends and leveraging expert insights, you can navigate the rural real estate market with confidence and success.

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

Home Sale Statistics Edmonton • Home Sale Statistics Edmonton • Home Sale Statistics Edmonton • Home Sale Statistics Edmonton • Home Sale Statistics Edmonton • 5 August 2024

Edmonton Real Estate Market – Home Sales July 2024

by Christina Reid

Edmonton Real Estate Market – July 2024

# Edmonton Real Estate Market

The Edmonton real estate market has experienced significant changes and growth in 2024, making it a dynamic and intriguing area for both buyers and sellers. This comprehensive analysis delves into the key statistics and trends shaping the market, offering valuable insights for anyone interested in understanding the current landscape.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

New listings have also seen a surge, with 2.88K new listings in July 2024. The YTD number of new listings stands at 18.1K. This increase in inventory provides buyers with more options and contributes to a dynamic market environment.

Average List Price Edmonton Real Estate Market

Home Sales In The Edmonton Real Estate Market

The Edmonton real estate market has seen a remarkable increase in sold properties in 2024. As of July 2024, there were 2.06K sold properties, a 26.88% increase from July 2023. Year-to-date (YTD) figures are even more impressive, with 12.7K sold properties, up 32.84% from 9.58K in the same period in 2023. This substantial growth indicates a highly active market with strong buyer interest.

Edmonton Average Home Sale Price

The average sale price in Edmonton has been on the rise. In July 2024, the average sale price reached $417K, representing an 8.39% increase from July 2023. The YTD average sale price for 2024 is $406K, a 7.35% increase from the previous year. This upward trend reflects growing property values and a strong demand for real estate in the area.

Analyzing the monthly sales prices provides a deeper understanding of the market’s progression. In July 2024, the average sales price was $417K, continuing the trend of rising prices observed throughout the year. This consistent increase highlights the market’s resilience and the sustained interest from buyers.

The average ask to sell ratio has remained relatively stable, reflecting a balanced market where sellers are achieving close to their asking prices. In 2024, the average ask to sell ratio was 0.989, slightly up from 0.971 in 2023. This minor increase indicates that buyers are willing to meet sellers’ expectations, further reinforcing the strength of the market.

Edmonton Real Estate Market -Average Days

The average number of days a property stays on the market before being sold has decreased, indicating a faster-moving market. In July 2024, properties were on the market for an average of 44 days, down from 77 days in 2023. This 27.27% decrease suggests that properties are selling more quickly, a sign of robust demand.

Economic Growth

Edmonton’s economy has shown signs of growth, contributing to the strength of the real estate market. Key industries such as energy, technology, and healthcare have seen positive developments, attracting more people to the area and boosting demand for housing.

Population Growth

Population growth in Edmonton has also played a role in the real estate market’s performance. As more people move to the city for its employment opportunities, lifestyle, and amenities, the demand for housing continues to rise, driving up prices and increasing market activity.

Investment Opportunities

Rental Market

With the rising property values and strong demand, the rental market in Edmonton presents attractive opportunities for investors. High rental yields and a steady influx of tenants make it a lucrative option for those looking to invest in real estate.

Long-Term Appreciation

The upward trend in property values suggests potential for long-term appreciation. Investors looking for long-term gains can benefit from the continuous growth in property prices, making Edmonton a promising market for real estate investment.

The Edmonton real estate market in 2024 is characterized by increased activity, rising property values, and shorter selling times. These trends reflect a strong and dynamic market driven by economic growth, population increases, and robust demand. Whether you’re a buyer, seller, or investor, understanding these key statistics and trends can help you make informed decisions in this vibrant 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

Spruce Grove Real Estate Statistics • 5 August 2024

Spruce Grove Real Estate Market Statistics July 2024

by Christina Reid

Spruce Grove Real Estate Market Statistics – July 2024

Spruce Grove has been experiencing significant growth in its real estate market. Known for its family-friendly neighbourhoods, excellent schools, and a plethora of recreational opportunities, Spruce Grove is an attractive destination for homebuyers and investors alike. In 2024, the city’s real estate market has shown remarkable trends that are worth exploring in detail. This blog will delve into the key statistics and factors driving the market, providing a thorough analysis of sold properties, average asking prices, new listings, days on market, and average sale prices.

More detailed information below

The below graphs are interactive

New MLS® Listing Count

The number of new listings in Spruce Grove has remained relatively stable, with a slight decrease of 0.76% YTD 2024. There were 130 new listings in July 2024, compared to 917 new listings YTD 2023, marking a 9.27% increase.

The stable number of new listings indicates a balanced market where supply is keeping pace with demand. This balance is crucial for preventing excessive price inflation and ensuring that buyers have a variety of options to choose from.

Average Listing Price in Spruce Grove

The average asking price for homes in Spruce Grove has also seen an increase. As of YTD 2024, the average asking price is $436,000, which is a 2.38% increase from the previous year. In 2023, the average asking price was $418,000, reflecting a 9.05% increase from the year before.

Spruce Grove Home Sales

The number of sold properties in Spruce Grove has seen a substantial increase in 2024. In July alone, there were 127 sold properties, marking a 19.81% increase from July 2023. Year-to-date (YTD) figures for 2024 also reflect this upward trend, with 808 sold properties compared to 604 in 2023, representing a 33.77% increase.

This surge in sold properties indicates a robust demand for real estate in Spruce Grove. The city’s appeal to buyers can be attributed to its growing amenities, improved infrastructure, and the overall quality of life it offers. The increase in sold properties also suggests a healthy market where buyers are confident in making investments.

Analyzing the monthly trends provides further insights. In the first half of 2024, there were notable fluctuations in the number of properties sold:

January: 110 sold properties
February: 96 sold properties
March: 79 sold properties
April: 153 sold properties
May: 164 sold properties
June: 113 sold properties

The spike in sales during the spring months, particularly in April and May, is typical of the real estate market as the warmer weather and the end of the school year encourage families to move. This seasonal trend highlights the importance of timing in the real estate market, both for buyers and sellers.

Average Home Sale Price

The average sale price in Spruce Grove has shown significant growth. In July 2024, the average sales price was $429,000, an 11.27% increase from July 2023. YTD 2024 figures reveal an average sales price of $423,000, up 8.57% from 2023.

This consistent increase in sales prices reflects the strong demand and competitive nature of the market. It also indicates that sellers are successfully closing deals close to or above their asking prices.

The monthly sales price trends highlight the market’s dynamics:

January 2022: $372,000
July 2022: $377,000
January 2023: $355,000
July 2023: $360,000
January 2024: $409,000
July 2024: $429,000

The significant jump in prices from January 2024 to July 2024 underscores the accelerated market activity and the increasing value of properties in Spruce Grove.

The average ask-to-sell ratio in Spruce Grove has improved, standing at 0.996 YTD 2024, up 1.78% from the previous year. This ratio indicates that homes are selling very close to their asking prices, reflecting a strong seller’s market.

Average Days on MLS®

The average number of days on the market until sale has decreased significantly. In 2024, properties in Spruce Grove are selling faster, with an average of 56 days on the market, down from 74 days in 2023, a decrease of 30.86%.

The reduction in the number of days properties spend on the market suggests a highly competitive environment. Buyers are acting quickly to secure properties, often leading to multiple offers and bidding wars. This trend is a positive indicator for sellers, as shorter selling times typically correlate with higher sale prices.

The Spruce Grove real estate market in 2024 is characterized by a significant increase in sold properties, rising average asking and sale prices, stable new listings, and a decrease in the number of days properties spend on the market. These trends indicate a robust and competitive market, driven by strong demand and the city’s overall appeal.

For buyers, this market presents opportunities but also challenges, as competition is fierce and properties are selling quickly. For sellers, the current market conditions are highly favourable, with homes selling close to asking prices and often within a short timeframe.

As we move forward, it will be essential to monitor these trends and factors influencing the market to make informed decisions. Whether you are looking to buy, sell, or invest in Spruce Grove, staying informed and working with knowledgeable real estate professionals will be key to navigating this dynamic market successfully.

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 • Stony Plain • 5 August 2024

Stony Plain Real Estate Statistics- July 2024

by Christina Reid

Stony Plain Real Estate Statistics Market Update: July 2024

# Stony Plain Real Estate Market Analysis: A Comprehensive Look at 2024 Trends

Stony Plain, a picturesque town known for its rich heritage and vibrant community, has seen significant shifts in its real estate market over the past year. With its mix of urban convenience and rural charm, Stony Plain continues to attract homebuyers and investors alike. In this comprehensive blog, we’ll delve deep into the current state of the Stony Plain real estate market, analyzing key trends, statistics, and what they mean for buyers, sellers, and investors.

Market Overview

The Stony Plain real estate market has experienced notable changes in 2024. A closer look at the data reveals interesting trends in sold properties, average asking prices, new listings, and days on the market.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

New listings have also shown a slight increase, with 375 new listings in 2024 compared to 366 in 2023, a 2.46% rise. This increase in inventory provides buyers with more options, contributing to a balanced market.

Average Asking Price of Homes in Stony Plain

The average asking price for homes in Stony Plain has shown stability and growth. In July 2024, the average asking price stood at $391K, reflecting a steady market with no significant change from the previous period. On a YTD basis, the average asking price in 2024 was $388K, a 9.79% increase from $354K in 2023. This upward trend in asking prices highlights the growing confidence of sellers in the market and the increasing value of properties in Stony Plain.

Stony Plain Home Sales

In July 2024, Stony Plain saw a substantial increase in the number of sold properties, with 54 homes sold. This marks a significant 50.00% increase compared to July 2023. Year-to-date (YTD) figures for 2024 also show a remarkable rise, with 322 properties sold, up 34.73% from 239 properties in 2023.

This surge in sales indicates a robust demand in the market, driven by factors such as attractive pricing, favourable economic conditions, and the town’s appealing lifestyle. The increase in sales volume also suggests that more buyers are finding Stony Plain an ideal place to invest in real estate.

Stony Plain – Average Home Sale Price

The average sale price of homes in Stony Plain has seen a positive trajectory. In July 2024, the average sale price was $391K, a modest 0.14% increase from July 2023. YTD figures for 2024 reveal an average sale price of $388K, up 9.79% from $354K in 2023. This consistent growth in sale prices reflects a healthy market where property values are appreciating steadily.

Additionally, the average sale price in July 2024 was $411K, a 4.50% increase from the previous year. This indicates that homes in Stony Plain are fetching higher prices, benefiting sellers and boosting overall market confidence.

The average ask to sell ratio, which measures the final sale price as a percentage of the asking price, has also improved. In 2024, the ask to sell ratio was 0.998, up 1.55% from 2023. This ratio indicates that homes are selling very close to their asking prices, reflecting a competitive market where buyers are willing to meet sellers’ expectations.

Stony Plain Average Days on Market

The average number of days a property spends on the market until it is sold is a crucial indicator of market dynamics. In 2024, homes in Stony Plain spent an average of 51 days on the market, a slight decrease from previous periods. This reduction in days on market suggests a quicker turnaround for properties, indicating strong buyer interest and efficient market transactions.

Analyzing the monthly sales price trends provides valuable insights into the market’s performance over time. In July 2024, the average sales price was $391K, a slight 0.14% increase from July 2023. The YTD average sales price for 2024 was $388K, marking a 9.79% increase from 2023.

Comparing monthly sales prices over the years, we see a consistent upward trend. For instance:

In January 2022, the average sales price was $329K.
By July 2022, it had risen to $376K.
In January 2023, the price was $353K, increasing to $400K by July 2023.
In January 2024, the average sales price was $306K, and it reached $391K by July 2024.

This steady increase in sales prices indicates a strong and growing real estate market in Stony Plain.

The Stony Plain real estate market has shown remarkable resilience and growth in 2024. With significant increases in sold properties, rising average prices, and a balanced market, Stony Plain continues to be a sought-after destination for homebuyers and investors. The town’s unique appeal, coupled with favourable economic conditions and market sentiment, bodes well for its future real estate prospects.

Whether you’re considering buying, selling, or investing in Stony Plain, understanding the current market dynamics and trends is crucial. The data and insights presented in this blog provide a comprehensive overview of the market, helping you make informed decisions and capitalize on the opportunities in this vibrant real estate market.

Stay tuned for more updates and insights into the Stony Plain real estate market as we continue to monitor and analyze its performance in the coming months.

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

Strathcona County Real Estate Market Statistics • 4 August 2024

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

by Christina Reid

Rural Strathcona Country Real Estate Market- Sales Statistics July 2024

Rural Strathcona County, known for its picturesque landscapes and expansive properties, continues to attract homebuyers seeking a blend of tranquility and accessibility. In 2024, the acreage market has shown dynamic changes, reflecting broader economic trends and the evolving preferences of buyers. This comprehensive blog explores the key metrics and trends shaping the rural Strathcona County acreage market, offering insights into property sales, pricing, and market dynamics.

Sales Activity Year-to-Date Overview

The year 2024 has been a robust one for acreage sales in rural Strathcona County. A total of 223 properties have been sold year-to-date (YTD), marking a significant 22.53% increase from the 182 properties sold during the same period in 2023. This uptick in sales activity underscores the growing demand for rural properties, likely driven by a combination of lifestyle changes and economic factors.

Bar graphs below are interactive

Strathcona County -Acreage Listings

The number of new listings and their pricing dynamics play a critical role in understanding the market’s health. In 2024, the rural Strathcona County market has maintained a steady flow of new listings, contributing to the overall activity and offering buyers a diverse range of options. However, specific data on the number of new listings and their average prices would further illuminate this aspect.

Strathcona County – Average Acreage List Price

The average asking price for acreages in rural Strathcona County has seen a slight decline YTD. In 2024, the average asking price stood at $857K, down by 1.16% from $866K in 2023. This minor decrease may indicate a market correction or adjustments by sellers to align with buyer expectations and market conditions.

Strathcona County –Acreage Sales

Focusing on July 2024, there were 38 sold properties, which represents a 26.67% increase compared to July 2023. This monthly surge highlights a particularly strong mid-year performance in the acreage market, suggesting heightened buyer interest and successful closing of transactions during the summer months.

Strathcona County Real Estate Market –Acreage Average Sales Price

Conversely, the average sale price has shown a remarkable increase. In July 2024, the average sale price was $833K, a substantial 29.82% rise from July 2023. YTD, the average sale price reached $749K, up by 2.20% from the previous year. This trend reflects strong buyer willingness to meet seller expectations and potentially increased competition for desirable properties.

Looking at the annual data, the average sale price in January 2022 was $675K, rising to $672K in January 2023, and then to $721K by January 2024. This steady upward trend over the years underscores the long-term appreciation of rural properties in Strathcona County, making it an attractive investment for buyers.

Examining the historical price trends provides valuable context for the current market dynamics. In July 2022, the average sale price was $831K, which decreased to $786K by July 2023. The rebound to $833K in July 2024 marks a significant recovery and growth trajectory, highlighting the market’s resilience and the increasing value of rural properties.

The ask-to-sell ratio, which compares the asking price to the final sale price, offers insights into seller flexibility and market competitiveness. YTD in 2024, this ratio was 0.968, slightly down by 1.75% from 0.975 in 2023. This minor decline indicates that while sellers are still achieving close to their asking prices, there is a slight trend towards more negotiation and price adjustments.

Strathcona County Acreage Average Days on Market

An important indicator of market efficiency is the average number of days properties spend on the market before being sold. In 2024, properties in rural Strathcona County had an average of 77 days on the market, a significant increase of 57.14% compared to previous periods. This extended duration could suggest a more deliberate decision-making process by buyers or potential challenges in closing transactions swiftly.

The rural Strathcona County acreage market in 2024 has demonstrated strong performance, with significant increases in both sales activity and average sale prices. While the average asking price has slightly decreased, the market’s overall health remains robust, supported by the rising demand for rural properties. The extended days on market and slight decline in the ask-to-sell ratio suggest a balanced market where buyers and sellers are engaging in thoughtful negotiations.

As the year progresses, monitoring these trends will be crucial for buyers, sellers, and real estate professionals to make informed decisions. The picturesque landscapes, combined with the strategic location of Strathcona County, continue to make it a desirable destination for those seeking a blend of rural charm and accessibility.

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

Fort Saskatchewan Home Sales Statistics • 4 July 2024

Fort Saskatchewan Real Estate Market Statistics- June 2024

by Christina Reid

Fort Saskatchewan Real Estate Market Statistics – June 2024

The Fort Saskatchewan real estate market has shown notable trends and changes in the past year, reflecting both local economic factors and broader regional influences. Here’s an in-depth look at key statistics and trends shaping the market as of mid-2024:

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

There were 76 new listings in June 2024, showing no change from June 2023. However, YTD comparisons reveal a decrease of 30.28% in new listings for 2024 compared to 2023.

Fort Saskatchewan Average List Price

The average asking price in the Fort Saskatchewan real estate market was $507k in the month of June, an increase of 34% over last June.

Year to date the average asking price is $485K up 17.5% from $413K last year.

Fort Saskatchewan Home Sales

June 2024 saw 61 properties sold, marking a 14.08% decrease compared to June 2023. Year-to-date (YTD) data for 2024 shows a significant increase, with 426 properties sold, up by 31.89% from the same period in 2023.

Fort Saskatchewan Average Home Sale Price

The average sale price in June 2024 was $472,000, reflecting an 18.18% increase from June 2023. YTD data also shows a steady rise, with the average sale price for 2024 at $432,000, up by 7.57% compared to the previous year.

The average ask to sell ratio stands at 0.999, indicating that homes are typically selling close to their asking prices.

Monthly sales prices have fluctuated, with June 2024 showing a slight decrease of 24.00% compared to June 2023. However, YTD comparisons show a minor increase overall.

Fort Saskatchewan -Average Days on Market

Properties in Fort Saskatchewan are selling faster, with the average days on market decreasing. This trend is indicative of a competitive market where well-priced homes are in demand.

Fort Saskatchewan’s real estate market to mid-2024 reflects a balanced yet dynamic environment. Increased sales volumes and rising prices indicate a resilient market, albeit with some variability in monthly performance.

Fort Saskatchewan continues to be an attractive market for both buyers and sellers, characterized by increased sales activity and rising property values. As economic conditions and consumer preferences evolve, monitoring these trends will be crucial for stakeholders in the local 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.

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 Stats • 4 July 2024

St. Albert Real Estate Market Statistics – June 2024

by Christina Reid

St. Albert's Real Estate Market Statistics

St. Albert Real Estate Market Statistics – June 2024

The St. Albert real estate market statistics so far in 2024 showcases significant growth in sold properties and average sale prices. Indicating a robust and attractive market for buyers and investors alike. The consistent rise in property values, coupled with a decrease in days on market, highlights a competitive and dynamic environment. With steady new listings and properties selling close to their asking prices, St. Albert continues to be a promising location for real estate investment.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

The number of new listings is a critical factor in understanding market supply. In June 2024, there were 192 new listings, a 3.52% decrease from the previous month. Despite this monthly dip, the overall supply of properties remains robust. For the YTD 2024, there were 1055 new listings, a marginal increase of 0.67% compared to 2023. This steady flow of new listings ensures that buyers have a variety of options, maintaining the dynamism of the market.

St. Albert – Average List Price

The average asking price in St. Albert real estate market statistics provide insight into seller expectations and market confidence. For June 2024, the average asking price was $550K, which is a 1.43% decrease from the previous month. However, the YTD average asking price showed a slight increase of 0.67% compared to 2023, standing at $540K. This stability in asking prices, despite minor fluctuations, indicates a balanced market where sellers are optimistic about the value of their properties.

St. Albert Home Sales

The St. Albert real estate market statistics so far in 2024 has experienced significant growth in the number of sold properties. As of June 2024, there were 182 sold properties, marking a 22.15% increase from June 2023. Year-to-date (YTD) 2024, the total number of sold properties was 782, which is a 20.87% increase from the same period in 2023. This upward trend indicates a strong demand for properties in St. Albert, reflecting a vibrant and active market.

St. Albert Average Sale Price of Homes

The average sales price in St. Albert has also seen a steady increase. In June 2024, the average sales price was $499K, a 1.86% increase from June 2023. For the YTD 2024, the average sales price was $500K, representing a 7.80% increase from 2023. These figures suggest that not only is there an increase in the number of transactions, but property values are also appreciating, making St. Albert an attractive location for both buyers and investors.

The average ask to sell ratio compares the final sale price to the original asking price. For YTD 2024, the ratio was 0.997, slightly higher than 0.982 in 2023. This small increase suggests that properties are selling very close to their asking prices, reflecting a balanced market where buyer and seller expectations are closely aligned.

St. Albert Days on MLS®

The average days on market (DOM) is a measure of how quickly properties are selling. In 2024, the YTD average DOM was 40 days, a 14.89% decrease from 2023. This reduction in DOM indicates that properties are selling faster, likely due to high demand and competitive pricing. A lower DOM generally points to a seller’s market, where buyers must act quickly to secure their desired properties.

Monthly Sales Analysis

January to June 2024

January: The average sale price was $413K, reflecting the seasonal market slowdown often seen in the winter months.
February: A slight increase brought the average sale price to $442K.
March: Continued growth with the average sale price reaching $457K.
April: The market saw a significant jump with the average sale price hitting $481K.
May: Consistent growth with the average sale price at $488K.
June: The average sale price stabilized at $499K, maintaining the positive trend from earlier months.

Year-over-Year Comparison

Comparing 2023 to 2024, there has been a clear upward trend in both the number of sold properties and the average sale prices. The significant increases in YTD figures highlight the growing popularity and investment potential of St. Albert. With 782 sold properties and an average sale price of $500K YTD 2024, the market shows strong resilience and growth.

Conclusion

The St. Albert real estate market statistics show 2024 is characterized by robust growth in both the number of transactions and property values. With a significant increase in sold properties and rising average sale prices, the market reflects strong demand and a healthy investment environment. The reduction in days on market further underscores the competitive nature of the market, where properties are selling quickly and close to their asking prices.

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

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

St. Albert Website