Edmonton New Home Builders - Trends and Market Updates • 14 November 2024

Housing Starts in Edmonton, Alberta: First Half of 2024

by Christina Reid

Housing starts in Edmonton Chris Reid Realtor

Housing Starts in Edmonton, Alberta: First Half 2024

1. Overview of Housing Starts to June 2024

Housing starts, defined as the commencement of construction on new residential units, serve as a vital indicator of economic health and housing market vitality. In Edmonton, 2024 witnessed a notable increase in housing starts, signalling robust construction activity and a response to growing housing demand.

According to the Canada Mortgage and Housing Corporation (CMHC), Edmonton recorded a significant rise in housing starts during the first half of 2024, marking the second-highest level since 1990. This surge was primarily driven by an influx of interprovincial migration and favoruable economic conditions.

CMHC

2. Economic Factors Influencing Housing Starts

Several economic elements contributed to the uptick in housing starts:

Population Growth: Edmonton experienced substantial population growth, attracting residents from other provinces due to its affordable housing and strong job market. This demographic influx heightened the demand for new housing developments.
CMHC
Employment Opportunities: The city’s diverse economy, encompassing sectors like energy, technology, and education, provided ample employment opportunities, further enticing individuals and families to relocate to Edmonton.
Interest Rates: While national interest rates remained relatively stable, Edmonton’s housing market benefited from local lending conditions that facilitated financing for new construction projects.

3. Demographic Trends and Housing Demand

The demographic composition of Edmonton played a crucial role in shaping housing demand:

Young Professionals and Families: The city attracted a significant number of young professionals and families seeking affordable housing options and quality of life, leading to increased demand for single-family homes and townhouses.
Immigration: International immigration contributed to population growth, with newcomers seeking rental accommodations and entry-level housing, thereby influencing the types of housing starts initiated.

4. Types of Housing Starts

The surge in housing starts encompassed various residential types:

Single-Family Homes: There was a notable increase in single-family home constructions, catering to the preferences of families and individuals seeking more space.
Multi-Family Units: Developers focused on multi-family units, including condominiums and apartments, to meet the needs of young professionals and immigrants.
Purpose-Built Rentals: A significant portion of new constructions were purpose-built rental units, addressing the growing demand for rental housing in the city.
CMHC

5. Policy and Regulatory Impacts

Government policies and regulations significantly influenced housing starts:

Municipal Incentives: The City of Edmonton implemented incentives to encourage developers to undertake new projects, including expedited permitting processes and tax benefits.
Zoning Regulations: Adjustments in zoning laws facilitated higher-density developments, allowing for more efficient land use and increased housing supply.
Affordable Housing Initiatives: Policies aimed at promoting affordable housing led to collaborations between the government and private developers to construct units accessible to lower-income residents.

6. Challenges Faced For Edmonton Housing Starts

Despite the positive trends, the housing market faced several challenges:

Construction Costs: Rising material and labor costs posed challenges for developers, potentially impacting the affordability of new housing units.
Supply Chain Disruptions: Global supply chain issues led to delays in construction timelines and increased costs for building materials.
Labor Shortages: The construction industry grappled with labor shortages, affecting the pace of new housing developments.

7. Future Outlook

Looking ahead, several factors are expected to influence housing starts in Edmonton:

Sustained Population Growth: Continued population growth is anticipated to drive demand for new housing, prompting ongoing construction activity.
Economic Diversification: Efforts to diversify Edmonton’s economy may lead to increased employment opportunities, further attracting residents and boosting housing demand.
Policy Developments: Future government policies, particularly those related to housing affordability and urban development, will play a crucial role in shaping the housing market.

8. Conclusion

The year 2024 marked a period of significant growth in housing starts for Edmonton, driven by economic prosperity, demographic shifts, and supportive policies. While challenges such as rising construction costs and labor shortages persist, the city’s housing market remains resilient, poised to meet the evolving needs of its residents.

As Edmonton continues to grow and evolve, the housing sector will play a pivotal role in shaping the city’s future, ensuring that it remains a vibrant and inclusive place for all its inhabitants.

References:

Canada Mortgage and Housing Corporation. “Fall 2024 Housing Supply Report.”
CMHC
Edmonton Global. “Edmonton leads in housing metrics.”
Edmonton Global
CityNews Edmonton. “‘Record-setting’ number: Edmonton celebrates increase in housing starts.”
CityNews Edmonton
REALTORS® Association of Edmonton. “Monthly Market Statistics Update.”
Realtors of Edmonton
Nesto. “Edmonton Housing Market | 2024 Home Prices.”
Nesto
WOWA. “Edmonton Housing Market Report: Nov. 5th, 2024 Update.”
Wowa

11 November 2024

Real Estate Investment Edmonton and Alberta in 2025

by Christina Reid

Real Estate Investment Edmonton and Alberta in 2025

Is real estate investment in Edmonton and Alberta the way to go? As we approach 2025, investors are closely examining markets across Canada to identify the next big opportunities in real estate. Alberta, and specifically Edmonton, have emerged as regions with substantial growth potential. With a diversified economy, a young and growing population, and an evolving real estate landscape, Edmonton offers unique investment avenues. In this blog, we will explore the most promising real estate investment opportunities in Edmonton and Alberta for 2025.

1. Multifamily Housing: Real Estate Investment in EdmontonMeeting the Demand of a Growing Population

Edmonton is one of the youngest cities in Canada, with a median age significantly lower than the national average. This youthful demographic is contributing to strong demand for rental properties. The multifamily sector, including apartment buildings and townhouses, presents a lucrative investment opportunity due to several key factors:

High Rental Demand: Edmonton’s population continues to grow, fuelled by interprovincial migration and international immigration. Many of these newcomers prefer renting over buying, creating a sustained demand for rental properties.
Affordability Challenges: Rising interest rates and stricter mortgage regulations are pushing potential homebuyers towards the rental market. Investing in multifamily housing allows investors to capitalize on consistent rental income streams.
Government Incentives: The Alberta government has rolled out various incentives for developers and investors in the multifamily housing sector, making it more attractive to create rental units, particularly affordable housing.

Overall, investing in multifamily properties in Edmonton offers a balanced mix of income stability and potential appreciation, particularly in neighbourhoods close to transit and amenities.

2. Commercial Real Estate: Medical and Office Spaces

Alberta’s healthcare sector is expanding rapidly, creating demand for medical office spaces. In Edmonton, there is a growing trend of healthcare professionals, including nurse practitioners, establishing independent clinics. This shift is driven by the increasing need for accessible healthcare and a focus on preventive care.

Medical Offices: Investing in commercial spaces tailored for medical use can be highly profitable. Demand is driven by the aging population and the expansion of healthcare services beyond traditional hospitals. Nurse practitioners, physiotherapists, and other healthcare providers are looking for modern, well-located office spaces.
Flexible Office Spaces: With the hybrid work model becoming more entrenched post-pandemic, there is a rise in demand for flexible and shared office spaces. Investors can explore opportunities in creating co-working environments that cater to small businesses and professionals seeking adaptable workspaces.

Investing in commercial real estate in Edmonton’s core areas, particularly near hospitals and major transportation hubs, can yield strong returns due to high occupancy rates and long-term leases.

3. Industrial Real Estate: Capitalizing on E-commerce Growth

Alberta’s industrial real estate market, particularly in Edmonton, has shown resilience and growth. The continued rise of e-commerce and logistics has driven demand for warehouses and distribution centres. Edmonton’s strategic location as a transportation hub makes it a prime spot for industrial investments.

Warehouse and Distribution Centres: The shift towards online shopping has led to increased demand for large industrial spaces. Investors can look at properties in industrial parks on the outskirts of Edmonton that have good connectivity to major highways.
Manufacturing Facilities: Alberta’s focus on diversifying its economy includes investments in advanced manufacturing. This sector requires specialized industrial spaces, providing investors with opportunities in leasing or developing facilities designed for manufacturing needs.

The industrial sector offers strong potential for growth, driven by the consistent demand from e-commerce, logistics, and manufacturing companies.

4. Acreages and Rural Properties: The Rise of Lifestyle Investments

There has been a noticeable trend towards rural living, especially post-pandemic, as people seek more space and a quieter lifestyle. Alberta’s rural areas, including Parkland County and Strathcona County, offer excellent opportunities for investing in acreages.

Rural Acreages: Investors can explore purchasing acreages for development or resale. The demand for larger properties has increased, especially among families looking to move away from urban centers while still remaining within commuting distance of Edmonton.
Agricultural Land: Alberta’s strong agricultural industry presents another avenue for investment. Farmland and agricultural properties offer stable returns, as demand for locally sourced food and sustainable farming practices grows.

Rural properties can offer a higher return on investment, especially as the trend of moving to the outskirts continues to grow. This is an excellent option for investors looking to diversify their portfolios with properties that appeal to a lifestyle-driven market.

5. Downtown Revitalization Projects: Leveraging Urban Development

Edmonton’s downtown core has been undergoing significant revitalization in recent years, with new developments focused on mixed-use properties that combine residential, commercial, and entertainment spaces. This transformation is creating exciting investment opportunities in the heart of the city.

Mixed-Use Developments: These projects offer the potential for both residential rental income and commercial leasing. As Edmonton’s downtown becomes more vibrant, demand for residential units in these developments is expected to rise.
Luxury Condos and High-Rise Apartments: There is a growing market for high-end condos, especially among young professionals and retirees looking for modern amenities and a central location.

Investing in downtown properties can be particularly profitable as the area becomes a cultural and economic hub, attracting both residents and businesses.

6. Short-Term Rentals: Tapping into the Tourism Market

The tourism industry in Alberta is making a strong comeback, and Edmonton is emerging as a popular destination for events, festivals, and sports. This resurgence presents an opportunity for investors in the short-term rental market.

Vacation Rentals: Platforms like Airbnb and VRBO have made it easier for investors to manage short-term rentals. Properties located near popular attractions, such as West Edmonton Mall, Rogers Place, and the Edmonton River Valley, are particularly well-suited for this market.
Event-Driven Demand: Edmonton hosts several large events, including concerts, sports tournaments, and cultural festivals. Properties catering to visitors during these peak times can generate significant income.

Investing in short-term rental properties requires careful consideration of local regulations, but the potential for high returns makes it a compelling option for 2025.

7. Residential New Builds: Capitalizing on Homebuyer Preferences

New home construction remains a strong segment in Edmonton’s real estate market. Many buyers are opting for newly built homes due to their modern features, energy efficiency, and customization options.

Single-Family Homes: There is steady demand for single-family homes, particularly in suburban areas like Windermere, Glenridding, and Chappelle Gardens. These neighbourhoods are popular among families looking for larger homes with good schools and amenities.
Townhouses and Duplexes: These offer an affordable entry point for both buyers and investors. Townhouses and duplexes are particularly appealing due to their lower maintenance costs and increasing popularity among first-time homebuyers.

Investing in new builds offers the advantage of low maintenance costs and the potential for strong appreciation, particularly in rapidly growing neighbourhoods.

8. Sustainable and Green Buildings: The Future of Real Estate

Sustainability is becoming a key consideration for both developers and buyers in the Edmonton real estate market. Green buildings and energy-efficient homes are gaining popularity as people become more environmentally conscious.

Energy-Efficient Homes: Properties with features like solar panels, energy-efficient windows, and smart home systems are in high demand. These features not only reduce utility costs but also align with buyers’ preferences for sustainable living.
LEED-Certified Commercial Buildings: Investing in green commercial real estate, such as LEED-certified office buildings, can attract businesses looking to reduce their carbon footprint and appeal to environmentally conscious consumers.

Sustainable properties often command higher rents and resale values, making them a smart investment for the future.

9. Affordable Housing: Addressing the Growing Need

The demand for affordable housing in Edmonton is on the rise, driven by increasing living costs and economic uncertainty. This market segment presents an important investment opportunity, particularly for those interested in socially responsible investing.

Government Programs and Incentives: The Alberta government offers various incentives for the development of affordable housing. Investors can take advantage of these programs to reduce costs and enhance profitability.
Partnerships with Non-Profit Organizations: Collaborating with non-profits to develop affordable housing can provide stable returns while also fulfilling a community need.

Investing in affordable housing can offer steady income and lower vacancy rates, as demand in this segment remains high.

Why Edmonton and Alberta Are Top Picks for 2025

Edmonton and Alberta’s real estate markets are poised for growth in 2025, driven by a combination of economic diversification, population growth, and evolving buyer preferences. Whether you are a seasoned investor or new to the market, there are ample opportunities to explore across various asset classes.

By focusing on multifamily housing, commercial spaces tailored for healthcare, industrial properties, rural acreages, downtown revitalization projects, short-term rentals, new home construction, green buildings, and affordable housing, investors can find promising avenues that align with their financial goals. Edmonton’s strategic location, young population, and supportive government policies create a dynamic environment for real estate investments.

For those considering entering the Edmonton real estate market, now is an opportune time to explore these diverse opportunities and position yourself for success in 2025.

Considering investing in Edmonton? Contact CHRIS REID

🌐 Sources

Britannica – Edmonton | History, Facts, Map, & Points of Interest
TheMichaelBlank – The Future of Real Estate Investment
[NewsWire – Real Estate in 2025: Mixed outlook opens doors to new investment opportunities](https://www.newswire.ca/news-releases/real-estate-in-2025-mixed-outlook-opens-

8 November 2024

Fort Saskatchewan Real Estate Market Statistics- October 2024

by Christina Reid

Fort Saskatchewan Real Estate Statistics Chris Reid Edmonton

Fort Saskatchewan Real Estate Market Statistics – October 2024

The Fort Saskatchewan real estate market has shown remarkable growth and resilience in 2024, reflecting broader trends across the Edmonton Metropolitan Region. The numbers paint a clear picture of a community that is becoming increasingly popular among homebuyers, driven by a combination of favourable market conditions and intrinsic appeal. This analysis aims to unpack the performance of the Fort Saskatchewan housing market in 2024, highlighting key trends and what they mean for potential buyers and sellers.

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

Although the analysis shows fluctuations in new listings on a monthly basis—with a decrease of 20.55% YTD in 2024 compared to 2023—this has not hindered the overall market activity. The reduced number of new listings may have contributed to the competitive nature of the market, leading to quicker sales and higher prices.

Fort Saskatchewan Average List Price

The average asking price in Fort Saskatchewan has seen a steady increase, reaching $469K YTD in 2024, which is up by 6.67% from 2023. Comparing the monthly statistics, the average asking price in October 2024 was $474K, which shows a 13.40% rise from $418K in the previous year. This growth in asking prices reflects a healthy market where homeowners can expect their property values to appreciate, making it a promising investment opportunity.

Fort Saskatchewan Home Sales

2024 has been a standout year for property sales in Fort Saskatchewan. Year-to-Date (YTD), there have been 701 properties sold, which marks a significant 33.78% increase from the same period in 2023, when 524 properties were sold. This substantial uptick is a strong indicator of increased demand and a robust housing market. Notably, in October alone, there was an astonishing 93.94% increase in sold properties compared to October 2023, with 64 homes changing hands.

Fort Saskatchewan Average Home Sale Price

The average sale price also reflects positive growth. YTD in 2024, the average sale price was $443K, up 11.47% from $397K in 2023. The monthly figures for October show an even more impressive growth, with the average sale price reaching $451K, up 10.92% from the previous year. This steady increase in sale prices is a clear sign that Fort Saskatchewan remains an attractive locale for both first-time buyers and seasoned investors.

The average ask to sell ratio stands at 0.996 YTD in 2024, indicating that homes are selling very close to their asking prices. This ratio is a modest increase from 0.982 in 2023, suggesting that sellers are getting what they ask for, and buyers are willing to meet these prices due to the perceived value in the Fort Saskatchewan market.

Fort Saskatchewan -Average Days on Market

In terms of market efficiency, the average days on market until sale have decreased significantly, which is an encouraging sign for sellers. The average number of days a property stays on the market has dropped by 26.56%, down to 47 days in 2024 from a higher figure in the previous year. This decrease suggests that properties are moving faster, likely due to increased buyer demand and a competitive market environment.

The trends observed in 2024 serve as a testament to Fort Saskatchewan’s growing appeal and its market’s resilience. For prospective buyers, the data underscores the importance of entering the market sooner rather than later, as prices show a consistent upward trajectory. Sellers can also feel optimistic about listing their properties, given the favourable selling conditions and the likelihood of achieving desirable sale prices.

Fort Saskatchewan’s real estate market in 2024 has demonstrated significant growth, resilience, and buyer interest. With sales and prices on the rise, the local market offers substantial opportunities for both buyers and sellers. As the year progresses, it will be interesting to see how these trends evolve, especially in response to broader economic conditions and local developments. For now, Fort Saskatchewan remains a promising area for real estate investment and homeownership, reflecting the vitality and potential of the broader Edmonton area real estate landscape.

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

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

City of Fort Saskatchewan Website

St. Albert Real Estate Market Trends and Investment Opportunities • 8 November 2024

St. Albert Real Estate Market Statistics – October 2024

by Christina Reid

St. Albert Real Estate Sales Chris Reid Edmonton Realtor

St. Albert Real Estate Market Statistics – October 2024

St. Albert’s real estate landscape has demonstrated remarkable growth and resilience throughout 2024. This blog delves into the underlying trends, statistics, and market dynamics that have shaped one of Alberta’s most vibrant housing markets over the year. By analyzing data from the REALTORS® Association of Edmonton, we can pinpoint how St. Albert stands out in the regional context and forecast future directions.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

Despite robust sales, the number of new listings in St. Albert has only slightly increased. In 2024, there were 1,718 new listings, a modest 1.36% increase from 1,695 in 2023. This relative stability in new listings, coupled with high sales growth, suggests a tightening market where demand outpaces supply.

St. Albert Real Estate- Average List Price

The average asking price in St. Albert has seen a steady rise. By October 2024, the average asking price stood at $533K, which is a 5.70% increase from $505K in 2023. This uptrend is supported by a 6.38% year-to-date increase, signalling sustained seller optimism and buyer willingness to invest at higher price points.

The average ask-to-sell ratio, a key indicator of market balance and negotiation power, stands at 0.988 for 2024, slightly up from 0.982 in 2023. This shift suggests that while buyers are still in a strong negotiating position, sellers are gaining ground, likely due to the limited inventory and increasing property values.

St. Albert Home Sales

The year-to-date (YTD) data for 2024 reveals a significant upswing in property transactions in St. Albert. As of October, the total number of sold properties reached 1,332, marking a 24.95% increase compared to the same period in 2023. This surge is even more pronounced when looking at the monthly data for October 2024 alone, which saw 119 properties sold—a 40.00% rise from October 2023. Such vigorous activity underscores a growing buyer interest and a healthy market that rebounds strongly.

St. Albert Average Sale Price of Homes

The average sale price of homes in October 2024 was $474K, up 14.68% from the previous year. Overall, the year-to-date average sale price also increased by 8.76% to reach $497K. These numbers not only reflect the premium quality of St. Albert homes but also the area’s appeal to homebuyers seeking long-term value.

St. Albert Housing Market Days on MLS®

The market’s liquidity, as measured by days on market until sale, has adjusted to 44 days down from 60 October 2023. Properties are moving faster, indicating that buyers are eager and prepared to close deals swiftly in a competitive market environment.

St. Albert’s real estate market in 2024 is characterized by strong growth, rising prices, and a healthy turnover of properties. These trends reflect both the desirability of the area and the robust economic fundamentals supporting the housing market. As we look forward, potential buyers should consider the market’s trajectory and recognize that St. Albert represents a sound investment in a steadily appreciating community.

Prospective sellers, on the other hand, can feel optimistic about entering the market, given the favourable conditions for securing advantageous sale terms. The forecast for 2025 and beyond remains positive, with expectations of continued growth in both property values and market activity.

In conclusion, whether you are looking to buy or sell in St. Albert, the current trends offer promising opportunities. With strategic planning and a keen understanding of market dynamics, stakeholders can effectively navigate this vibrant real estate landscape.

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: Acreage Properties and Market Trends • 8 November 2024

Parkland County Acreage Sales Statistics October 2024

by Christina Reid

Parkland County Acreage Sales Statistics Chris Reid Realtor

Parkland County Acreage Sales Statistics – October 2024

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

Nestled in Alberta, just west of Edmonton, Parkland County offers a blend of rural charm and modern convenience, making it a sought-after destination for those looking to escape the city’s bustle without sacrificing amenities. As 2024 unfolds, the Parkland County real estate market has experienced significant shifts, offering both opportunities and challenges for buyers and sellers. This article will analyze the latest data on sold properties, average asking prices, days on market, and more to provide a comprehensive overview of the current real estate trends in Parkland County.

Below Graphs Are Interactive

Parkland County Acreage Listings

The dynamics of new listings and inventory levels also provide key insights into the market. Although there was a slight decrease in new listings with 937 in 2024 compared to 979 in 2023, this 4.29% drop hasn’t dampened the market enthusiasm, as evidenced by the rising sales and prices. It may, however, indicate a tightening market with fewer new properties becoming available, potentially leading to increased competition among buyers.

Parkland County Average List Price

As demand grows, so does the value of acreage properties. The average asking price has seen a steady climb, reaching $721K in 2024, up by 7.25% from the previous year. This is part of a continuing trend of rising property values, with a significant jump of 11.69% in average asking prices from $634K in 2023 to $709K in 2024. The rising prices are indicative of a competitive market where buyers are willing to pay a premium for the unique blend of rural tranquility and accessibility that Parkland County offers.

Parkland County Acreage Sales

The year 2024 has been remarkable for acreage sales in Parkland County. By October, the county had seen a significant increase in property transactions, with a total of 60 properties sold, marking a substantial 22.45% rise from October 2023. This trend is mirrored in the year-to-date (YTD) data, which shows a 14.26% increase in sold properties, climbing from 484 in 2023 to 553 in 2024. Such figures underscore a thriving market that is attracting more interest from potential homeowners and investors seeking spacious, rural living options.

Parkland County Acreage Average Sale Price

The average sales price provides another lens through which to view the market’s strength. October 2024 recorded an average sale price of $609K, reflecting a modest increase of 1.56% from October 2023. However, the YTD average sales price shows a more robust growth of 8.05%, rising from $548K in 2023 to $593K in 2024. This trend suggests that while monthly fluctuations are relatively minor, the overall trajectory for acreage property values is upward.

The average ask-to-sell ratio has remained steady, moving from 0.962 in 2023 to 0.972 in 2024. This slight increase reflects a market where sellers are achieving sales very close to their asking prices, indicating strong buyer agreement on property values.

Parkland County Acreage Days on Market

One of the metrics closely watched by real estate professionals is the days on market until sale, which offers a gauge of market velocity and buyer urgency. In 2024, properties in Parkland County have been selling faster, with the average days on market decreasing to 154, a notable 20.31% faster than the previous year. This decrease suggests that properties are being snapped up more quickly, a sign of high demand in the acreage market.

The Parkland County acreage market in 2024 has demonstrated vibrant growth and robust activity, making it an attractive option for those seeking space and serenity without straying too far from urban amenities. With sold properties on the rise, increasing property values, and a market dynamic characterized by quick sales and efficient transactions, Parkland County stands out as a prime location for buyers looking for rural real estate investment opportunities and for sellers to capitalize on the increasing property values.

Prospective buyers and sellers are encouraged to stay informed and consider these trends when making real estate decisions in this increasingly popular area. As we move towards 2025, the market’s resilience and the growing interest in acreage properties suggest a continued upward trajectory, promising opportunities for those ready to engage with the Parkland County 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.

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

Parkland County Website

8 November 2024

Edmonton Real Estate Market – Home Sales October 2024

by Christina Reid

Edmonton Real Estate Market – October 2024

As we wrap up 2024, the 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.

Edmonton’s real estate market has shown impressive growth through the year 2024, demonstrating a robust recovery and sustained demand across various property types. This detailed analysis provides insights into the performance of the market, helping potential buyers, investors, and industry stakeholders understand the key trends and factors driving the local real estate dynamics.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

New Listings

The total number of new listings in 2024 shows a healthy market activity with 25.4K new listings year-to-date, which is a 10.77% increase from the 23.8K listings in 2023. The consistent supply of new properties helps maintain a balanced market, ensuring that both buyers and sellers have ample opportunities to engage.

Average List Price Edmonton Real Estate Market

Property values have also seen a steady increase. The average asking price in 2024 rose by 4.15% year-to-date, reaching $472K compared to $460K in 2023. This trend is indicative of the market’s healthy appetite, where buyers are willing to invest in higher-priced properties, influenced by both the quality of listings and competitive market conditions.

Home Sales In The Edmonton Real Estate Market

Growth in Sold Properties

The year 2024 has been marked by a significant increase in property sales. As of October, Edmonton has witnessed a remarkable 33.66% rise in sold properties compared to the same period in 2023, with 1.78K properties sold in the month alone. Year-to-date (YTD), the market has seen 17.9K properties sold, marking a 27.67% increase from the 14.0K properties sold by October 2023. This surge reflects a growing buyer confidence and an invigorating market environment.

Edmonton Average Home Sale Price

The average sale price tells a similar story of growth, where the monthly figures for October show a price of $419K—a 10.91% increase from $378K in October 2023. The year-to-date average sale price stands at $407K, up by 7.83% from the previous year. These figures highlight the increasing property values, providing lucrative opportunities for sellers and a sign of a strengthening market for buyers.

The ask to sell ratio, a critical metric measuring the difference between the listing price and the final sale price, shows a marginal improvement, indicating that properties are selling closer to their asking prices, a sign of a seller’s market.

Edmonton Real Estate Market -Average Days

How quickly a property sells is a crucial metric in gauging market health. In 2024, Edmonton has seen a favourable shift in days on market and ask-to-sell ratios:

The efficiency of the market has improved as properties are spending less time on the market. The average days on market until sale has decreased by 20.29%, dropping from 74 days in 2023 to 55 days in 2024. This faster turnover reflects a market where demand meets supply efficiently, benefiting sellers with quicker sales and buyers with a variety of choices.

The Edmonton real estate market in 2024 illustrates a healthy and vibrant environment, marked by a significant increase in property sales, rising prices, and efficient market transactions. These trends not only benefit current homeowners but also provide promising opportunities for potential buyers and investors.

As the market continues to evolve, staying informed with the latest data and trends will be crucial for anyone looking to engage with the Edmonton real estate market, ensuring strategic decision-making and successful investments.

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 • 4 November 2024

Spruce Grove Real Estate Market Statistics October 2024

by Christina Reid

Spruce Grove Real Estate and Home Sale Statistics October 2024

Spruce Grove Real Estate Market Statistics – October 2024

The real estate market in Spruce Grove has seen dynamic growth throughout 2024, with data revealing positive trends in sold properties, average sale prices, and other metrics that illustrate a competitive and appreciating market. As we examine these trends, it becomes clear that Spruce Grove continues to attract homebuyers and investors, with key indicators pointing toward robust demand and rising property values. Here, we’ll break down each major aspect of the market based on the latest data, providing insight into what’s driving these changes and what they mean for buyers, sellers, and investors.

More detailed information below

The below graphs are interactive

New MLS® Listing Count

Increased Listings but Tight Inventory

The number of new listings has also grown, suggesting a higher inventory to meet increasing demand, which helps keep the market competitive and offers more choices for prospective buyers.

YTD 2024: New listings in Spruce Grove reached 1,390 in 2024, an increase of 22.33% from 1,254 in 2023. This growth aligns with the trend of increased sales, indicating a balanced market with a steady influx of properties available for purchase.

This steady flow of listings keeps the market moving and provides a balance between supply and demand, making it an attractive environment for both buyers seeking options and sellers aiming to capitalize on demand.

Average Listing Price in Spruce Grove

Price trends have shown considerable growth in Spruce Grove over 2024.

Average Asking Price: The average asking price YTD in 2024 stands at $496,000, reflecting a 16.7% rise from 2023. In October, the asking price averaged $461,000, up from $418,000 in 2023, a gain of 10.32%. These increases suggest strong seller confidence and buyers’ willingness to meet higher price points, likely due to Spruce Grove’s desirable community features and proximity to Edmonton.

Spruce Grove Home Sales

Increase in Sold Properties: Demand on the Rise

One of the standout aspects of Spruce Grove’s real estate market in 2024 is the significant increase in sold properties. Year-to-date (YTD) data shows a total of 1,119 properties sold, a notable 34.17% increase compared to 834 properties sold in the same period in 2023. This upward trend reflects heightened demand in Spruce Grove, suggesting that more buyers are choosing this community as their preferred location.

October 2024: In October alone, there were 98 sold properties, marking a 55.56% increase from October 2023. This jump highlights seasonal strength in the market, possibly fuelled by factors like increased consumer confidence and favourable conditions for real estate investment.
Monthly Basis: While the YTD 2024 increase is significant, it’s essential to note that there has been a slight dip in the monthly average compared to the previous year. Monthly sales fell from 71 in 2023 to 57 in 2024, representing a 19.72% decrease. This could indicate a tighter inventory or the impact of recent interest rate hikes.

Average Home Sale Price

Average Sale Price: Similarly, the average sale price has experienced an upward trajectory. In October 2024, the average sale price reached $428,000, a 13.18% increase from October 2023. YTD, the average sale price for 2024 is $426,000, marking an 8.90% increase from $391,000 in 2023. This rise demonstrates the ongoing appreciation of property values and a competitive buyer landscape.

Ask-to-Sell Ratio: Strong Buyer-Seller Dynamics

The average ask-to-sell ratio provides additional insight into the market’s competitiveness and pricing dynamics. A higher ratio suggests that sellers are getting closer to their initial asking prices, which is often a sign of a seller’s market.

Ask-to-Sell Ratio: Spruce Grove’s ask-to-sell ratio in 2024 stands at 0.991, up by 1.16% compared to 2023’s 0.95. This increase indicates that sellers are achieving near their asking prices, a testament to robust demand and limited buyer negotiation power in a competitive market.

Days on Market Until Sale: A Faster-Paced Market

One of the most telling metrics of a hot real estate market is the average number of days a property remains on the market before it sells. In Spruce Grove, properties are selling more quickly in 2024 compared to previous years.

Days on Market: The average number of days on the market until sale has dropped to 44 days in 2024, a significant 31.25% decrease from 2023. This accelerated pace reflects a heightened interest from buyers and less hesitation in making purchase decisions. Quick sales often indicate that properties are priced appropriately and meet buyer demand, further underscoring Spruce Grove’s appeal.

The Spruce Grove real estate market in 2024 presents a picture of growth, stability, and opportunity. With rising prices, increased sales, and quick turnover, it’s clear that the community is highly sought after by both buyers and investors. The year-to-date trends indicate a strong seller’s market, where demand outweighs supply, leading to rising property values and a competitive buying landscape.

Looking ahead, if these trends persist, Spruce Grove’s market will likely continue to appreciate, making it an attractive investment location. Buyers looking to enter the market should act swiftly, while sellers can feel optimistic about maximizing their property values.

Overall, Spruce Grove’s thriving real estate scene reflects broader market trends, with a growing population and economic stability sparking demand. As more people recognize the benefits of this community, the market dynamics are expected to remain positive, ensuring a bright future for Spruce Grove’s real estate 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

4 November 2024

Stony Plain Real Estate Sale Statistics- October 2024

by Christina Reid

Stony Plain Real Estate Statistics Market Update: October 2024

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

Stony Plain’s real estate market has been showing dynamic activity throughout 2024, with significant year-over-year growth in both sales volume and prices. Here’s a comprehensive look at the latest trends based on the data from October 2024.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

In October, Stony Plain saw 40 new listings, a 16.67% decrease compared to the same month last year. YTD, however, the total number of new listings increased 3.91%, reaching 531 listings versus 511 in 2023. The drop in October’s new listings suggests a potential tightening in inventory, which could continue to drive demand and prices up if supply remains limited.

Average Asking Price of Homes in Stony Plain

Despite the high demand, the average asking price in October 2024 was $357,000, which represents a slight decrease of 3.04% from the previous month. However, the YTD average asking price has increased by 8.23%, moving from $372,000 in 2023 to $403,000 in 2024.

Stony Plain Home Sales

In October 2024, Stony Plain recorded 52 sold properties, marking a substantial 92.59% increase compared to October 2023. Year-to-date (YTD) sales for 2024 stand at 446 properties, up 30.03% from 343 properties sold by this time in 2023. This increase reflects strong demand and a competitive market as buyers continue to view Stony Plain as an attractive place to settle.

Stony Plain – Average Home Sale Price

The average sale price in October was $345,000, a 14.37% increase over October 2023. Year-to-date, the average sale price has risen 7.98%, from $351,000 in 2023 to $379,000 in 2024, indicating that properties are selling closer to asking prices, and in many cases, at a premium.

The average ask-to-sell ratio for Stony Plain improved slightly to 0.98, reflecting that homes are selling very close to their listing prices.

Stony Plain Average Days on Market

Properties in Stony Plain are spending an average of 41 days on the market as of October 2024, a 25.45% decrease from the previous year, meaning homes are selling faster.

The data indicates that Stony Plain’s real estate market is thriving, driven by robust demand and steady price appreciation. With properties selling quickly and close to asking prices, both buyers and sellers should remain mindful of competitive conditions in the market. For potential sellers, now may be an opportune time to list, while buyers should be prepared to act swiftly given the quick turnover rate.

Whether you’re looking to buy, sell, or simply stay informed about the Stony Plain market, these insights reveal a strong year for local real estate, with demand likely to persist into 2025.

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 • 4 November 2024

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

by Christina Reid

Rural Strathcona Country Real Estate Market- Sales Statistics October 2024

The rural real estate market in Strathcona County has seen notable shifts, with increases in sales activity, moderate changes in average asking and selling prices, and evolving trends in buyer demand. This year has demonstrated a marked rise in property transactions, spurred by factors such as buyer interest in rural properties, fluctuating inventory, and competitive pricing strategies. For those looking to buy or sell in Strathcona County, understanding these dynamics is essential. This in-depth analysis explores key data, year-over-year comparisons, and the implications of these trends for future buyers and sellers.

Bar graphs below are interactive

Strathcona County -Acreage Listings

New Listings: Meeting Buyer Demand

2024 New Listings: New listings in 2024 totalled 577, representing a 14.29% increase from the previous year’s 509 listings. The year-over-year rise reflects seller confidence, suggesting that more property owners are seizing the opportunity to sell amid high buyer interest.
Increased Inventory for Buyers: The higher number of 48 new listings is beneficial for buyers, providing a wider selection of properties and creating a more balanced market. However, sellers need to ensure competitive pricing and appealing property features to stand out.

The rise in inventory shows that while there’s high demand, sellers have also responded by making more properties available, which has helped to stabilize prices and give buyers more negotiating power.

Strathcona County – Average Acreage List Price

Average Asking Price Trends

2024 YTD Average Asking Price: The average asking price across the county stood at $872,000, showing a 21% decrease compared to the previous year. Despite the reduction, this pricing strategy may have contributed to the rise in sales, as sellers have aligned their expectations with what buyers are willing to pay.
2023 Comparison: Last year, the average asking price was around $883,000, a slight increase from $872,000, highlighting an upward trend in asking prices. This 3.01% increase indicates that sellers in 2023 held firm on value expectations, while 2024 saw a shift towards more competitive pricing.

Overall, this trend of slightly reduced asking prices suggests that sellers are adjusting their pricing strategies to meet the market demand, leading to a faster sales cycle and helping to reduce the time properties spend on the market.

Strathcona County –Acreage Sales

Sold Properties: A Remarkable Increase in 2024

October 2024 Sales: The market saw 45 sold properties in October, reflecting an impressive 104.55% increase from October 2023. This rise suggests increased demand for rural properties as more buyers are drawn to the tranquility of rural living and the appeal of larger land plots.
Year-to-Date (YTD) Data: YTD sales reached 336 properties by October 2024, up from 268 in 2023, representing a 25.37% increase. This growth underscores the consistent buyer interest throughout the year, making 2024 one of the more active years in recent memory for rural Strathcona.

The increased sales volume could be a result of several factors: favourable rural property prices compared to urban areas, buyers seeking larger spaces, and lifestyle shifts that prioritize privacy and nature.

Strathcona County Real Estate Market –Acreage Average Sales Price

Average Sale Price: Growth in Property Value

October 2024 Average Sale Price: The average sale price reached $750,000, a 14.87% increase compared to October 2023. This increase is indicative of strong demand, especially for properties priced below the county’s asking price average, making these more accessible to a larger group of buyers.
YTD Average Sale Price: Across 2024, the average sale price has been $752,000, marking a 6.75% year-over-year increase from $705,000 in 2023. This appreciation demonstrates that, despite fluctuations in asking prices, rural Strathcona properties are retaining and gaining value over time.

This upward trend in sale prices aligns with the growing desirability of rural properties in the post-pandemic world, where people are increasingly looking for properties that offer space, privacy, and a closer connection to nature.

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

Properties Selling Faster in 2024

Days on Market: In 2024, properties spent an average of 99 days on the market, a 16.47% increase compared to previous data. While still a considerable duration, this timeframe reflects the specificity of rural properties, which often require longer sale times compared to urban listings.
Implications for Sellers: The longer days on market suggest that rural buyers are taking time to make informed decisions, and sellers might need to adjust pricing or enhance property appeal to reduce time to sale.

The lengthier market time also reflects the unique buying process for rural properties, which often involves additional due diligence, such as land assessment and utility setup checks, before purchase.

Challenges and Opportunities for Sellers

For sellers, 2024 has been a favourable year given the high demand and increased sale prices. However, to ensure successful sales in the months ahead, there are some challenges and opportunities to consider:

Competitive Pricing: Given the changes in asking prices and the increased number of new listings, sellers need to remain competitive in their pricing. The 21% drop in average asking prices year-over-year suggests that aggressive pricing tactics may lead to faster sales.
Highlight Unique Features: In a market with a high inventory, showcasing the unique aspects of a property can make a significant difference. Landscaping, water features, or custom-built structures should be emphasized in listings.
Preparing for Extended Time on Market: With an average of 99 days to close, sellers need to be patient and ready to keep their property well-maintained and market-ready.

Looking Ahead: Market Outlook for 2025

The Rural Strathcona County real estate market is expected to remain stable but may see shifts in buyer trends as interest rates and economic conditions evolve. Key predictions for 2025 include:

Steady Demand for Rural Living: The appeal of rural areas is unlikely to wane, especially as more people seek a balance between work and lifestyle post-pandemic.
Potential for Price Adjustments: If the number of new listings continues to increase, some correction in prices may occur, giving buyers more negotiating power.
Interest Rate Sensitivity: With lower anticipated interest rates some rural buyers may wait to enter the market to increase their buying power.

Overall, the market for rural properties in Strathcona is poised for steady growth. Both buyers and sellers can benefit from the ongoing trends, provided they stay informed and prepared.

Conclusion

In summary, 2024 has been an active year for Rural Strathcona County’s real estate market. With a significant rise in property sales, strategic price adjustments, and growing interest in rural lifestyles, the region remains highly appealing for buyers. Sellers, on the other hand, can leverage these trends by setting competitive prices and making properties stand out in a growing inventory.

Whether you’re considering buying a spacious acreage or selling a rural estate, understanding these market dynamics is key to navigating Strathcona County’s unique real estate landscape.

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- September 2024

by Christina Reid

Fort Saskatchewan Real Estate Market Statistics Chris Reid Realtor

Fort Saskatchewan Real Estate Market Statistics – September 2024

The Fort Saskatchewan real estate market is showing remarkable growth and resilience. With significant gains in both property sales and values, it continues to attract buyers looking for a thriving community within reach of Edmonton. Here’s a comprehensive look at the latest statistics and trends that have shaped Fort Saskatchewan’s real estate market so far this year.

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

Although buyer demand is high, new listings have seen a slight dip. In September 2024, there were 76 new listings, a 2.56% decrease compared to the previous year. However, on a YTD basis, there were 767 new listings in 2024, which shows a 1.99% increase from 752 in 2023. The marginal increase in listings YTD contrasts with the significant rise in demand, indicating a tightening market where supply is struggling to keep up with buyer interest.

Fort Saskatchewan Average List Price

The average asking price for homes in Fort Saskatchewan has seen a notable increase, marking a consistent upward trend in 2024. As of the latest data, the average asking price is $476,000, reflecting a 13.71% increase compared to the same period in 2023. When broken down, the asking prices have grown from $417,000 to $475,000 YTD, a 13.97% rise. This increase is a testament to the rising demand for properties in Fort Saskatchewan and signals a competitive market environment.

Fort Saskatchewan Home Sales

On a monthly basis, the number of sold properties has experienced fluctuations. For example, comparing the YTD monthly average reveals a 20.27% decrease in sold properties from the same period last year, with September standing out as an exceptionally strong month. This variability might suggest that seasonal factors, combined with Fort Saskatchewan’s unique market conditions, have influenced buyer activity, driving higher sales during certain periods.

Fort Saskatchewan Average Home Sale Price

The average sale price in Fort Saskatchewan has also surged, indicating that buyers are willing to pay a premium to secure properties in the area. In September 2024, the average sale price was $470,000, which represents a 26.51% increase from September 2023. For the YTD period, the average sale price is recorded at $442,000, marking an 11.44% increase from $397,000 in 2023. This consistent appreciation in sale prices underscores the area’s value growth, making it an appealing option for investors and homebuyers alike.

The ask-to-sell ratio in Fort Saskatchewan shows a market where sellers are receiving offers close to their asking prices. In September, the ratio was recorded at 0.993, marking a 1.45% increase compared to the previous period. The average ratio over the YTD period is around 1.00, indicating that most homes are selling at or near the asking price. This trend reinforces Fort Saskatchewan’s status as a seller’s market, with minimal negotiation on listed prices.

Fort Saskatchewan -Average Days on Market

Homes in Fort Saskatchewan are selling faster, further underscoring the competitive market conditions. While detailed metrics on the average days on market (DOM) aren’t included in this update, the overall trend suggests a swifter turnover. This accelerated sales pace is a strong indicator of the demand and can potentially influence higher offers from buyers eager to secure a home in this high-demand area.

The 2024 Fort Saskatchewan real estate market reflects substantial growth in sales volume, average prices, and strong buyer demand. With a 60.87% increase in property sales and a 26.51% increase in average sales price in September alone, Fort Saskatchewan has emerged as a dynamic and desirable area within the Edmonton region. The 13.71% increase in asking prices and the competitive ask-to-sell ratio further validate that demand is outpacing supply, making it an ideal market for sellers while posing opportunities for buyers willing to act swiftly.

This market data not only highlights Fort Saskatchewan’s current standing but also positions it as a lucrative investment destination moving forward, driven by rising demand, limited inventory, and steadily appreciating property values.

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