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

St. Albert Real Estate Market Statistics – September 2024

by Christina Reid

St. Albert Real Estate Market Chris Reid Realtor

St. Albert Real Estate Market Statistics – September 2024

As the St. Albert real estate market continues to show dynamic changes, understanding the latest statistics and trends is essential for anyone looking to buy, sell, or invest in the area. With its family-friendly neighbourhoods, excellent amenities, and strong property demand, St. Albert has established itself as one of Alberta’s key real estate markets. This blog breaks down the most recent data, covering everything from the average sale price and days on market to the shift in sold properties.

Bar Graphs Below Are Interactive

St. Albert New Listing Count

September 2024 New Listings: St. Albert’s market recorded 150 new listings in September, which represents a decrease of 16.20% compared to the previous year.

Year-to-Date (YTD) New Listings: For 2024, 1,570 new listings have been posted, showing a 1.03% increase over the 1,554 listings in 2023. This slight increase in inventory helps balance the market, though the decrease in new listings as of September suggests an ongoing inventory squeeze, making available properties more competitive.

St. Albert Real Estate- Average List Price

Current Average Asking Price: In 2024, the average asking price for properties in St. Albert real estate market stands at $549K, which represents a 2.44% increase from 2023’s average of $537K.

Yearly Comparison: Since 2023, there’s been a 5.83% rise from $507K, showing a consistent upward trend in seller expectations and indicating a market that continues to gain value.

St. Albert Home Sales

September 2024 Sales: There were 103 properties sold, a 3.74% decrease from the 107 properties sold in September 2023. This slight decrease suggests minor seasonal fluctuations.

Year-to-Date (YTD) Sales: Sales volume reached 1,213 properties in 2024, marking a significant 23.65% increase compared to 981 sales during the same period in 2023. This substantial growth underscores the market’s appeal and a high buyer demand driven by St. Albert’s quality of life and proximity to Edmonton.

St. Albert Average Sale Price of Homes

September 2024 Sales Price: The average sale price in September 2024 hit $510K, showing an impressive 14.85% jump from September 2023’s average of $444K.

Year-to-Date (YTD) Average Sale Price: So far, the YTD average sale price in 2024 is $499K, up by 8.36% from $461K in 2023. This increase highlights the growth in property values across St. Albert, making it a lucrative area for investment.

Ask-to-Sell Ratio in 2024: Currently, the average ask-to-sell ratio is 0.997, a 1.95% increase from last year. This statistic shows that sellers are close to achieving their asking prices, an encouraging sign for those listing homes in St. Albert. For buyers, it suggests a need for competitive offers, especially in high-demand neighbourhoods.

St. Albert Housing Market Days on MLS®

In September, properties averaged 44 days on the market, a 32.31% reduction from the previous year. The shorter days-on-market statistic points to strong buyer demand, with properties being snapped up quickly. A quick sale turnaround time also indicates high competitiveness, meaning buyers should act quickly once they find a suitable property.

Key Factors Fuelling St. Albert’s Real Estate Market Growth

Several unique factors continue to make St. Albert an attractive market:

Proximity to Edmonton: Located just a short drive from Edmonton, St. Albert offers residents the best of both worlds—an accessible urban job market combined with a serene, suburban atmosphere.
Top-Tier Amenities and Schools: Families are drawn to St. Albert for its highly-rated schools, parks, healthcare facilities, and shopping centres, which all contribute to the area’s high quality of life.
Increasing Property Values: With both average asking and sale prices on the rise, homeowners and investors are witnessing steady property appreciation, which bodes well for long-term financial gains.
Low Inventory Levels: The slight decrease in new listings suggests a tight inventory, pushing prices up as demand continues to outpace supply.

St. Albert Housing Market: What Buyers Need to Know

For buyers looking to enter the St. Albert market, it’s essential to understand the current landscape:

Expect Competitive Bidding: With a high ask-to-sell ratio, competitive bidding is common, especially in popular neighbourhoods like Oakmont and Erin Ridge.
Get a Pre-Approval: To secure a property quickly in this fast-paced market, buyers should obtain mortgage pre-approval to increase their purchasing power.
Plan for Slightly Higher Budgets: Given the rise in both average asking and sale prices, setting a slightly higher budget could help buyers target properties within St. Albert’s main residential areas.

St. Albert Real Estate Market for Sellers: Timing and Strategy

For those planning to sell, here’s how to make the most of the current market:

Price Competitively: With a high average ask-to-sell ratio, setting a realistic asking price is critical to attracting qualified buyers quickly.
Market Strategically: Using high-quality images, staging, and SEO-driven listing descriptions can maximize your property’s visibility online, especially to out-of-town buyers.
Capitalize on Low Inventory: With fewer new listings, sellers may benefit from the reduced competition, allowing for favorauble pricing and quicker sales.

Investment Potential in St. Albert: Why Now?

Investors eyeing St. Albert will find several advantages in the 2024 market:

Appreciating Property Values: With both average asking and sale prices up, St. Albert offers strong potential for long-term capital gains.
Growing Rental Demand: Proximity to Edmonton and an influx of young professionals have boosted rental demand, making rental properties in St. Albert a lucrative venture.
Family-Friendly Community Appeal: St. Albert’s reputation as a safe, family-friendly community with excellent schools makes it a steady market for rental properties aimed at long-term tenants.

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 October 2024

Parkland County Acreage Sales Statistics September 2024

by Christina Reid

Parkland County Acreage Real Estate Chris Reid Realtor

Parkland County Acreage Sales Statistics – September 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

Inventory levels play a crucial role in determining market dynamics, affecting both price trends and buyer competition. Data from 2024 shows a nuanced view of Parkland County’s inventory situation:

September 2024 New Listings: A total of 107 new listings were recorded in September, representing a 7.00% increase from the prior year.
Year-to-Date New Listings: The YTD figures indicate a slight decline in new listings, dropping by 4.89% from 921 in 2023 to 876 in 2024.

This decrease in YTD new listings, combined with an increase in sold properties, points to a tightening inventory, which could fuel further price increases if demand continues to outpace supply. For sellers, this may be a golden opportunity to list their property and capitalize on the competitive market conditions. Buyers, however, may need to act more decisively and be prepared for fewer options and potentially quicker decisions.

Parkland County Average List Price

Rising asking prices have been a defining feature of Parkland County’s market in 2024, which could signal a shift toward a seller’s market.

Average Asking Price for September 2024: The average asking price in Parkland County has increased by 26.75%, reaching $807K. This significant increase highlights strong seller confidence and an upward trend in property values.
Year-to-Date Comparison: YTD figures also show a rise in asking prices from $632K in 2023 to $708K in 2024, marking a 12.06% increase.

The rise in asking prices can be attributed to heightened demand, increased property values, and potentially limited inventory, making it a favourable market for sellers. Buyers looking to invest in Parkland County should be prepared for higher price points and the potential for competition on sought-after properties.

Parkland County Acreage Sales

Parkland County’s monthly sold properties data showcases a steady growth trend throughout 2024.

Monthly Sold Properties in 2024: The current year has consistently outpaced 2023 in monthly sold properties, with a 19.00% increase in monthly figures YTD.

This steady rise month-over-month signals sustained buyer interest and market resilience. Despite economic variables, Parkland County has maintained robust sales activity, further cementing its status as a preferred location for those seeking a balance between rural and accessible suburban living.

Parkland County’s real estate market has seen a noteworthy rise in sold properties, both in year-to-date (YTD) data and monthly figures for September 2024. Here’s a closer look:

September 2024 Sold Properties: There were 54 sold properties in September, a 10.20% increase from the previous year, highlighting the growing interest in Parkland County properties.
Year-to-Date 2024 Sold Properties: With a total of 493 sold properties YTD in 2024, Parkland County has seen a 13.33% increase compared to 2023.

This growth suggests that demand remains strong, likely driven by the unique combination of lifestyle and property value that Parkland County offers. The increase in sold properties indicates that more buyers are choosing to invest in the area, attracted by the blend of rural living, larger property sizes, and access to nature.

Parkland County Acreage Average Sale Price

Examining monthly sales prices helps illustrate how the market has performed on a more granular level. Notably:

September 2024 Average Sales Price: The average sales price in September was $532K, which is a 25.39% increase from the same month in 2023. This sharp rise showcases a hot market and reflects the increased value perception of Parkland County properties.
Year-to-Date 2024 Average Sales Price: YTD 2024 shows an average sales price of $591K, marking an 8.83% increase compared to YTD 2023.

The upward trajectory in monthly sales prices could indicate that buyers are increasingly willing to pay premiums for the lifestyle and space that Parkland County offers. Properties in this area likely appeal to those seeking larger, rural lots or acreage without the premium prices often associated with properties within Edmonton city limits.

Parkland County Acreage Days on Market

The average number of days on the market for properties in Parkland County has increased slightly to 139 days in September 2024, up by 37.6% from 2023. Despite this increase, the average time to sell remains relatively short, indicating a healthy demand for rural acreages.

Forecasting Future Trends: What Lies Ahead for Parkland County

With all indications pointing toward a sustained demand for Parkland County properties, here’s what to expect in the coming months:

Sustained Price Growth: The upward trend in asking and selling prices will likely continue, fuelled by strong demand and limited new listings.
Buyer Competition: With fewer days on the market and high ask-to-sell ratios, buyers should prepare for a competitive environment. Acting quickly on desirable properties may become the norm.
Attractive Seller Conditions: Sellers are well-positioned to capitalize on the current market. The high ask-to-sell ratio, coupled with quick sales, suggests minimal need for price negotiation, as buyers remain willing to meet listing expectations.

Key Takeaways for Buyers and Sellers

For buyers, this market requires readiness to act decisively. Properties are moving quickly, and asking prices continue to rise, meaning waiting could lead to higher costs or fewer options. Consider your must-have criteria and be prepared to negotiate, especially if a property aligns with your vision.

For sellers, it’s an opportune time to list. With buyers showing a high willingness to pay close to asking prices and competition driving quick sales, sellers can confidently set competitive prices. It’s crucial, however, to present properties in their best possible light to maximize appeal.

Final Thoughts: Why Parkland County?

Parkland County represents a blend of rural peace and urban convenience, offering larger lots, a connection to nature, and a thriving community atmosphere. This combination appeals to families, professionals, and retirees alike, contributing to its resilience and growth in the real estate market. For those looking to buy or sell in Parkland County, 2024 continues to bring exciting opportunities.

In conclusion, Parkland County remains a strong real estate market with upward trends in demand, prices, and sold properties. Both buyers and sellers can navigate this market successfully by staying informed, prepared, and willing to act quickly as this dynamic market unfolds. Whether you’re looking to invest, relocate, or sell in Parkland County, understanding these trends will give you a clear advantage in making the most of this vibrant and evolving 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 October 2024

Edmonton Real Estate Market – Home Sales September 2024

by Christina Reid

Edmonton Real Estate Market – September 2024

# Edmonton Real Estate Market

Edmonton’s real estate market has shown substantial growth and resilience in 2024, capturing the attention of buyers, investors, and real estate professionals alike. This blog dives into the latest data, trends, and projections for the Edmonton real estate landscape, giving readers a comprehensive understanding of where the market stands. From record-breaking property sales to rising average prices, here’s what you need to know to make informed decisions in Edmonton’s housing market.

In recent years, Edmonton has emerged as a dynamic real estate market, appealing to both local buyers and investors from across Canada. Known for its robust economy and attractive home prices compared to other major cities, Edmonton continues to be a promising location for those looking to enter or expand in the housing market. The year-to-date (YTD) statistics from 2024 show a strong upward trend in sold properties, average asking prices, and overall property values, indicating sustained interest and demand in the region.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

New listings are a critical factor in understanding market dynamics, especially with the rising demand in Edmonton:

Total New Listings for YTD 2024: 23.1K, showcasing the market’s response to increased demand.
Monthly Listings: Edmonton saw 2.41K new listings in recent months, meeting the demand surge while also highlighting an active market.

The influx of new listings ensures that buyers have diverse options, even as demand intensifies. However, with growing interest and competitive pricing, many properties are selling quickly, creating an urgency among buyers to act fast.

Average List Price Edmonton Real Estate Market

In Edmonton, the average asking price has seen steady growth, providing sellers with favourable conditions:

Current Average Asking Price: $470K, reflecting a 5.47% YTD increase over 2023.
2023 vs. 2024 Comparison: In 2023, the average asking price was $438K. By 2024, it has risen to $459K, representing a 4.75% increase year-over-year.

This consistent increase indicates a market where sellers have confidence in raising prices, driven by heightened buyer interest and limited inventory. For buyers, this trend suggests acting sooner rather than later, as asking prices continue to climb steadily.

Home Sales In The Edmonton Real Estate Market

The data for 2024 highlights a significant increase in the number of sold properties:

September 2024: 1.58K properties sold, marking a 7.8% increase compared to September 2023.
YTD 2024: A total of 16.1K properties have sold so far, showing a 27.1% rise from the 12.7K sold during the same period in 2023.

This growth rate underscores the increasing demand for homes in Edmonton, which can be attributed to a combination of factors, including population growth, economic stability, and appealing property values compared to other Canadian cities.

Edmonton Average Home Sale Price

The average sales price has also experienced an upward trend on both a monthly and annual basis:

September 2024 Average Sale Price: $413K, a 9.8% increase from September 2023.
YTD 2024: The average sale price for the year sits at $406K, which is up by 7.48% from 2023’s average of $378K.

The rise in average sale price reflects growing property demand and value appreciation in Edmonton, which is especially appealing to investors who seek long-term gains. For current homeowners, this trend translates to increased home equity and overall financial growth.

Ask-to-Sell Ratio: The ratio has improved to 0.985, up by 1.3%, indicating that homes are selling closer to their asking prices than before.

The reduction in days on market coupled with a stronger ask-to-sell ratio illustrates that properties are not only in demand but are also attracting offers closer to the asking price. This is positive news for sellers and further solidifies Edmonton’s position as a seller’s market in 2024.

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 favoruable shift in days on market and ask-to-sell ratios:

Average Days on Market: 54 days, reflecting a 15.63% decrease from the previous year.

The Edmonton real estate market in 2024 presents numerous opportunities for buyers, sellers, and investors. With rising property values, an increase in sold properties, and a shorter time to sell, Edmonton’s market showcases resilience and growth potential. Key takeaways include:

Strong Demand: The rising number of sold properties and new listings suggests that Edmonton remains an attractive destination for property buyers.
Increased Property Values: Average asking and sale prices continue to climb, reinforcing the city’s appeal to investors and homeowners.
Positive Market Indicators: With reduced days on market and an improved ask-to-sell ratio, Edmonton shows all signs of a competitive 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: Market Trends and Investment Opportunities • 8 October 2024

Spruce Grove Real Estate Market Statistics September 2024

by Christina Reid

Spruce Grove Real Estate Statistics Chris Reid Realtor

Spruce Grove Real Estate Market Statistics – September 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

Increased Listings but Tight Inventory

Spruce Grove has experienced a rise in new listings in 2024, reflecting a growing interest in the market.

New Listings:
YTD in 2024, there have been 1,264 new listings, up from 1,151 in 2023, showing a 9.82% increase. This influx of properties provides more options for buyers, although high demand suggests that competition remains strong for quality listings.

Average Listing Price in Spruce Grove

Price growth has been another notable trend in Spruce Grove’s market, attracting attention from both investors and homebuyers looking for long-term value.

Average Asking Price:
The average asking price reached $470K in 2024, showing a 9.42% increase YTD from 2023. When comparing average prices from $417K in 2023 to $458K in 2024, there’s a noticeable 9.78% growth, indicating that properties in Spruce Grove are appreciating at a steady pace.

Spruce Grove Home Sales

The number of monthly sold properties provides a view of market vitality and seasonality.

Monthly Sold Properties Comparison:
September’s sales figures indicate that sales have increased significantly compared to prior months and years, indicating a possible seasonal effect as more families aim to settle in before winter.
Sold Properties:
In September 2024, Spruce Grove reported 101 properties sold, a 34.67% increase compared to September 2023. On a YTD basis, 1,021 properties have sold, marking a 32.43% increase from 771 in 2023. This significant rise in sales highlights the area’s appeal, suggesting that more families and individuals are choosing Spruce Grove as a residential destination.

In 2024, Spruce Grove has seen remarkable growth in its real estate market. The year-to-date (YTD) statistics reveal a thriving market driven by an increased demand for properties in this suburban area of Edmonton.

Sold Properties:
In September 2024, Spruce Grove reported 101 properties sold, a 34.67% increase compared to September 2023. On a YTD basis, 1,021 properties have sold, marking a 32.43% increase from 771 in 2023. This significant rise in sales highlights the area’s appeal, suggesting that more families and individuals are choosing Spruce Grove as a residential destination.

Average Home Sale Price

Average Sale Price:
The average sale price in September 2024 was $445K, which represents a 9.91% increase from September 2023. On a YTD basis, the average sale price is $426K, reflecting an 8.56% increase from $392K in 2023. These price increases suggest that buyers are willing to invest in properties with the anticipation of gaining value over time.

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.

Month-to-month sales trends can reveal short-term fluctuations and indicate seasonal buying patterns, which are relevant to investors and short-term buyers.

Monthly Sales Price Comparison:
The average monthly sales price in September 2024 was $445K, a 9.91% increase from September 2023. The consistent monthly sales growth aligns with the YTD average sale price increase of 8.56%, affirming Spruce Grove’s overall upward pricing trend.

Average Days on MLS®

The average time properties spend on the market and the ask-to-sell ratio provide further insights into buyer behaviour and competition levels.

Days on Market Until Sale:
Properties in Spruce Grove have averaged 47 days on the market in 2024, a decrease of 25.4%. This shorter market duration indicates that homes are selling faster, often due to the area’s desirability and competitive pricing.

Reasons for Spruce Grove’s Market Appeal

Spruce Grove has become a desirable location due to several factors. The city offers a combination of suburban charm with proximity to Edmonton, strong community amenities, and ongoing residential developments that appeal to families and young professionals alike.

Community and Infrastructure:
Known for its parks, schools, and recreational facilities, Spruce Grove is attractive to those seeking a balanced lifestyle. Development of retail and dining options continues to enhance the city’s appeal, with convenient access to Edmonton making it an ideal location for commuters.

Implications for Buyers and Sellers in 2024

Given the market trends, both buyers and sellers can strategically position themselves for success.

For Buyers:
With property prices and competition increasing, buyers should be prepared to act quickly on desirable listings. Working with a local realtor knowledgeable about Spruce Grove’s market can help buyers navigate competitive offers and secure homes closer to asking prices.
For Sellers:
The current market conditions favour sellers who can anticipate competitive offers and shorter sale durations. Listing a home at market value or slightly above can yield high interest, potentially resulting in multiple offers.

The Growth Trajectory of Spruce Grove’s Real Estate Market

The Spruce Grove real estate market in 2024 is thriving, showing strong demand, rising prices, and favorable conditions for sellers. Buyers interested in Spruce Grove are drawn by its proximity to Edmonton, family-friendly amenities, and solid investment potential, as reflected by rising property values.

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

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

City of Spruce Grove Website

Stony Plain Real Estate: Market Trends and Investment Opportunities • 8 October 2024

Stony Plain Real Estate Statistics- September 2024

by Christina Reid

Stony Plain Real Estate Sales Chris Reid Realtor

Stony Plain Real Estate Statistics Market Update: September 2024

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

The real estate market in Stony Plain, Alberta, is experiencing some notable shifts in 2024. This charming town, known for its tight-knit community and small-town appeal just west of Edmonton, has seen fluctuating market trends that are both intriguing and valuable for potential buyers, sellers, and investors. Here, we’ll dive deep into the year-to-date (YTD) market statistics, including sold properties, average prices, days on the market, and emerging trends.

Market Overview

Monthly Snapshot: A Closer Look at September 2024

To gain a clearer picture of the recent trends, let’s focus on some specific figures from September 2024:

Sales Volume: 34 properties sold, down 20.93% from September 2023.
Average Sale Price: Reached $349,000, reflecting a modest 0.49% increase from last year’s average.
New Listings: 58 properties were listed, keeping supply balanced and contributing to a steady pace of sales.
Ask-to-Sell Ratio: The average ratio in September remained strong at approximately 0.99, showing that properties continue to command their asking prices.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

Inventory levels have played a key role in shaping the 2024 Stony Plain real estate market. As of September, 463 new listings were added, a 6.05% increase from 2023. With 491 new listings YTD (up 0.49% from the prior year), the supply of homes has slightly expanded, which could offer more choices for buyers while creating a bit of competitive pressure for sellers.

However, this slight increase in listings aligns with market activity where more properties were sold this year than in 2023, which means inventory hasn’t outpaced demand. The balanced growth in listings helps ensure that buyers have options without causing a major oversupply, thus maintaining property values.

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

Sold Properties In September 2024, there were 34 properties sold in Stony Plain, marking a 20.93% decrease compared to the same month in 2023. Despite this monthly decline, the year-to-date (YTD) sales volume reflects a different trend: 394 properties were sold in 2024, a significant 24.68% increase over the 316 properties sold YTD in 2023. This rise in sales throughout the year suggests steady demand, although September’s lower sales indicate some market cooling.

The average monthly sales data gives additional insights. From January to September, the average number of properties sold per month dropped from 68 in 2023 to 53 in 2024, representing a 22.06% decrease. This monthly trend suggests some seasonal or market-specific factors at play, which may reflect changing buyer interest or a shift in inventory.

Stony Plain – Average Home Sale Price

Average Sale Price The average sale price also witnessed a healthy rise, ending September 2024 at $349,000, marking a 20.83% increase over the previous year’s $289,000. Across the entire year, the average sale price stands at $383,000 YTD, up 7.96% from $355,000 in 2023. This trend indicates that despite fluctuating sales volumes, property values remain robust, with Stony Plain’s market steadily appreciating, which could benefit both long-term investors and potential sellers looking for equity growth.

Average Ask-to-Sell Ratio In line with the positive market conditions, the average ask-to-sell ratio for properties in Stony Plain has reached 0.991, marking a 1.07% increase from last year’s ratio of 0.979. This slight increase reflects a competitive market where homes are being sold closer to their asking prices, benefiting sellers who can secure near-list-price offers. For potential buyers, this indicates a need for competitive offers, particularly in high-demand segments of the market.

Stony Plain Average Days on Market

Days on Market Until Sale An interesting shift in 2024 is the reduction in the average days a property spends on the market. Properties in Stony Plain are now selling in 42 days on average, a 56.25% decrease compared to previous averages. This quick turnover suggests a high buyer interest, possibly driven by the area’s relative affordability, the rise in average incomes, or the appeal of suburban life near Edmonton.

What These Trends Mean for Buyers, Sellers, and Investors

For Buyers

The Stony Plain real estate market in 2024 offers both opportunities and challenges for buyers. With slightly more inventory and stable sales prices, buyers have more choices in selecting properties that match their budgets. However, the shorter days on the market and high ask-to-sell ratios mean that serious buyers should be prepared to make competitive offers to avoid missing out on desirable listings.

The increase in the average sale price suggests that buyers may face rising costs over time. Hence, locking in current prices sooner rather than later might benefit buyers seeking long-term appreciation. Additionally, with the market’s stability, buyers can be confident in their investment potential, especially if they are looking at Stony Plain as a long-term residence or rental property.

For Sellers

For sellers, 2024 has proven to be a favourable year, especially in terms of achieving higher sale prices and selling closer to the asking price. The reduction in days on the market means that homes are selling faster, allowing sellers to capitalize on a motivated buyer pool. The rise in both average asking and selling prices is also beneficial, especially for those looking to maximize their returns.

However, given the slight increase in new listings, sellers should ensure their property stands out. Presenting a well-maintained home, possibly with appealing upgrades, can help in attracting top dollar offers and competing effectively with the additional listings on the market.

For Investors

With an increase in average sale prices and high market liquidity, Stony Plain remains a solid option for investors in 2024. Property appreciation is evident from the rise in both asking and sale prices YTD, providing confidence in the market’s long-term potential. The high ask-to-sell ratio and faster turnover rate suggest demand remains strong, which is a promising indicator for potential rental properties or future resale value.

Additionally, Stony Plain’s small-town charm and proximity to Edmonton make it attractive for families and professionals, a trend that may support further market growth. Investors should consider properties that offer unique features or amenities, as these are likely to attract quality tenants or buyers.

Conclusion: The 2024 Stony Plain Real Estate Market at a Glance

In summary, the Stony Plain real estate market in 2024 has shown steady growth with promising returns for sellers, stable opportunities for buyers, and potential for investors. With rising property values, a shorter average time on the market, and a balanced increase in listings, the market caters well to various real estate goals.

Whether you’re considering buying your first home, selling to capitalize on value appreciation, or investing in a stable market, Stony Plain offers a unique blend of affordability and growth potential. As always, working with a knowledgeable real estate agent can help you navigate these trends, ensuring you make the most informed decision for your needs and goals.

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

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 • 8 October 2024

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

5 August 2024

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

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: Acreage Properties and Market Trends • 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

Edmonton Real Estate Market Trends and Insights • 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

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