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

Spruce Grove Real Estate Market Statistics July 2024

by Christina Reid

Spruce Grove Real Estate Market Statistics – July 2024

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

More detailed information below

The below graphs are interactive

New MLS® Listing Count

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

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

Average Listing Price in Spruce Grove

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

Spruce Grove Home Sales

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

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

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

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

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

Average Home Sale Price

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

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

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

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

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

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

Average Days on MLS®

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

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

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

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

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

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

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

City of Spruce Grove Website

Stony Plain Real Estate: Market Trends and Investment Opportunities • 5 August 2024

Stony Plain Real Estate Statistics- July 2024

by Christina Reid

Stony Plain Real Estate Statistics Market Update: July 2024

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

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

Market Overview

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

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

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

Average Asking Price of Homes in Stony Plain

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

Stony Plain Home Sales

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

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

Stony Plain – Average Home Sale Price

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

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

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

Stony Plain Average Days on Market

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

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

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

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

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

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

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

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

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

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

Town of Stony Plain Website

Rural Strathcona County Real Estate: Market Trends and Investment Opportunities • 4 August 2024

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

by Christina Reid

Rural Strathcona Country Real Estate Market- Sales Statistics July 2024

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

Sales Activity Year-to-Date Overview

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

Bar graphs below are interactive

Strathcona County -Acreage Listings

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

Strathcona County – Average Acreage List Price

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

Strathcona County –Acreage Sales

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

Strathcona County Real Estate Market –Acreage Average Sales Price

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

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

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

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

Strathcona County Acreage Average Days on Market

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

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

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

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

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

Strathcona County Website

Fort Saskatchewan Real Estate Market Statistics • 4 July 2024

Fort Saskatchewan Real Estate Market Statistics- June 2024

by Christina Reid

Fort Saskatchewan Real Estate Market Statistics – June 2024

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

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

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

Fort Saskatchewan Average List Price

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

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

Fort Saskatchewan Home Sales

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

Fort Saskatchewan Average Home Sale Price

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

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

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

Fort Saskatchewan -Average Days on Market

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

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

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

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

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

City of Fort Saskatchewan Website

4 July 2024

St. Albert Real Estate Market Statistics – June 2024

by Christina Reid

St. Albert's Real Estate Market Statistics

St. Albert Real Estate Market Statistics – June 2024

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

Bar Graphs Below Are Interactive

St. Albert New Listing Count

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

St. Albert – Average List Price

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

St. Albert Home Sales

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

St. Albert Average Sale Price of Homes

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

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

St. Albert Days on MLS®

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

Monthly Sales Analysis

January to June 2024

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

Year-over-Year Comparison

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

Conclusion

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

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 • 4 July 2024

Parkland County Acreage Sales Statistics June 2024

by Christina Reid

Parkland County Acreage real estate statistics

Parkland County Acreage Sales Statistics – June 2024

Parkland County acreage sales has experienced notable trends in its real estate market for acreages in 2024. The overall YTD figures highlight the market’s resilience and potential for growth. The increase in sold properties suggests that while monthly figures may vary, the general trend is positive, signalling strong buyer interest and successful sales.

Parkland County, renowned for its stunning landscapes and desirable rural properties. Understanding these trends is crucial for both buyers and sellers aiming to make informed decisions. This analysis delves into the key metrics and changes observed in the market this year.

Below Graphs Are Interactive

Parkland County Acreage Listings

The number of new listings saw a noticeable decline, with 96 new listings in June 2024, down by 25.58% from the previous year. This reduction in new listings could indicate a tightening supply, potentially driving up competition among buyers and contributing to the increase in average sale prices observed YTD.

Parkland County Average List Price

The average asking price for new listings in June 2024 was $685K. This price shows a 16.3% increase from June 2023.

Parkland County Acreage Sales

In June 2024, there were 66 sold properties, marking a 9.59% decrease compared to June 2023. This reduction reflects a broader trend observed over the year. Despite this, the year-to-date (YTD) statistics show a more positive outlook. By mid-2024, 316 properties had been sold, representing a significant 16.18% increase from 272 properties sold during the same period in 2023. This surge indicates growing interest and demand for Parkland County acreages despite short-term fluctuations.

The number of sold properties has varied month-to-month, with some months showing higher activity than others. This variability is normal in real estate markets, often influenced by factors such as weather, economic conditions, and buyer behaviour patterns.

Parkland County Average Sale Price

The average sale price in June 2024 was also $564K, indicating that sellers are pricing their properties realistically, aligning their asking prices closely with the actual sale prices. On a YTD basis, the average sale price reached $604K, up by 9.83% from $550K in 2023. This increase underscores a healthy appreciation in property values, reflecting the desirability and value of acreages in Parkland County.

The average ask to sell ratio stands at 0.979, a slight increase of 1.02% from the previous year. This ratio suggests that properties are selling very close to their asking prices, reinforcing the trend of realistic pricing by sellers and a balanced market where neither buyers nor sellers hold a dominant position.

Monthly average sales prices have seen fluctuations, with notable peaks and troughs. For instance, in January 2024, the average price was $611K, but it decreased to $564K by June 2024. This volatility reflects typical seasonal patterns and market dynamics.

Parkland County Acreage Days on Market

Properties in Parkland County typically spent 121 days on the market before sale, which is a significant 21% increase compared to the previous year. This longer time on the market could be due to various factors, including higher buyer scrutiny or seasonal variations in demand.

The Parkland County acreage market in 2024 presents a dynamic and evolving landscape. Despite short-term fluctuations, the overall trend points towards a robust and appreciating market. Sellers are achieving close to their asking prices, and property values have seen significant increases, especially in the higher-end market segments. For buyers, understanding these trends and acting strategically is key to securing desirable properties in this competitive market.

For more detailed insights and personalized advice, contact local real estate experts who can provide tailored guidance based on your specific 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 would like more information on buying and selling in Parkland County CONTACT CHRIS REID

Parkland County Website

Edmonton Real Estate Market Trends and Insights • 4 July 2024

Edmonton Real Estate Statistics – Home Sales June 2024

by Christina Reid

Edmonton Real Estate Statistics – June 2024

The Edmonton real estate statistics in have seen significant changes throughout 2024. With a blend of rising property values, increased sales volume, and evolving market dynamics, it’s an exciting time for both buyers and sellers. Let’s delve into the detailed statistics and trends shaping the Edmonton real estate landscape.

Below Graphs Are Interactive.

Edmonton New MLS® Listings

The market has also experienced a healthy influx of new listings:

June 2024: There were 2.76K new listings.
YTD 2024: The total number of new listings has reached 15.2K.

This increase in listings provides more options for buyers and indicates that sellers are eager to capitalize on the rising prices.

Average List Price Edmonton Real Estate Market

The average asking prices have also seen upward movement:

June 2024: The average asking price was $413K, which represents a 6.39% increase from June 2023.
YTD 2024: The average asking price is $404K, a 7.16% rise from the previous year.

Home Sales In The Edmonton Real Estate Market

In 2024, the number of sold properties in Edmonton has shown remarkable growth.

June 2024: There were 1.97K sold properties, a 10.06% increase compared to June 2023.
Year-to-Date (YTD) 2024: There have been 10.7K sold properties, a 34.16% increase from the 7.96K properties sold by this time in 2023.

This surge in sales volume indicates a strong demand in the market, reflecting both the appeal of Edmonton as a residential hub and favourable market conditions.

Edmonton Average Home Sale Price

Sale prices have consistently increased, reflecting a competitive market:

June 2024: The average sale price was $413K, up 6.39% from June 2023.
YTD 2024: The average sale price was $404K, marking a 7.16% increase from 2023.

These statistics suggest that buyers are willing to pay more for properties, likely due to increased demand and perhaps a perception of rising future values.

The average ask to sell ratio has remained stable, slightly improving:

YTD 2024: The ratio was 0.994, a 2.01% increase from the previous year.

This ratio suggests that most properties are selling close to their asking prices, indicating strong buyer interest and fair pricing strategies by sellers.

The monthly sales price trends provide further insights into the market dynamics:

June 2024: The average sales price was $413K.
January to June 2024: The average sales prices were as follows:
- January: $376K
- February: $378K
- March: $381K
- April: $346K
- May: $411K

These figures illustrate a steady increase in prices, with a notable spike in May.

Edmonton Real Estate Market -Average Days

The average days on the market until sale have fluctuated, showcasing market efficiency:

YTD 2024: Properties were on the market for an average of 42 days, a decrease of 34.38% compared to the previous period.

Fewer days on the market generally indicate a seller’s market, where properties are sold quickly due to high demand.

Edmonton’s real estate market is thriving, characterized by high demand, rising prices, and quick sales. For potential buyers and investors, this market presents opportunities for growth and value appreciation. For sellers, the current conditions offer an advantageous time to list properties, with a strong likelihood of achieving desired prices in a timely manner.

The Edmonton real estate market in 2024 is marked by positive trends and robust activity. With continued demand and a favourable economic environment, the market is poised for sustained growth. Whether you’re looking to buy, sell, or invest, staying informed about these trends is crucial for making strategic decisions in this dynamic 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 • 4 July 2024

Spruce Grove Real Estate Market Statistics June 2024

by Christina Reid

Spruce Grove Real Estate Market Statistics – June 2024

The Spruce Grove real estate market has shown significant activity and growth over the past year. As of June 2024, several key metrics illustrate the health and dynamics of the market. This comprehensive analysis dives deep into the statistics, trends, and factors influencing this vibrant market.

More detailed information below

The below graphs are interactive

New MLS® Listing Count

The market dynamics in Spruce Grove are also reflected in the number of new listings. In June 2024, there were 133 new listings, representing a decrease of 7.64% compared to the same month last year. However, the YTD figure tells a different story, with 872 new listings by mid-2024, up 10.94% from 786 in 2023. This increase in new listings suggests that more homeowners are looking to capitalize on the strong market conditions.

Average Listing Price in Spruce Grove

The average asking price in Spruce Grove has seen a noticeable rise. By June 2024, the average asking price was $468K, up 13.66% from the previous year. This increase aligns with the overall trend of rising home prices in the region, driven by high demand and relatively limited supply.

Spruce Grove Home Sales

In June 2024, Spruce Grove saw 113 properties sold, marking a 5.61% increase compared to June 2023. This uptick indicates a healthy demand for homes in the area. On a year-to-date (YTD) basis, 681 properties were sold by mid-2024, a substantial 36.75% increase from the 498 properties sold during the same period in 2023. This sharp rise highlights a robust market with growing buyer interest and activity.

Average Home Sale Price

The average sale price of homes in Spruce Grove also reflects significant growth. In June 2024, the average sale price was $436K, a 12.98% increase from June 2023. Year-to-date, the average sale price was $421K, an 8.04% increase from $390K in 2023. This consistent price appreciation underscores the strong market conditions and the value buyers are placing on properties in the area.

The average ask to sell ratio in Spruce Grove for 2024 stands at 0.996, a slight increase from 0.97 in 2023. This ratio indicates that homes are selling very close to their asking prices, demonstrating realistic pricing by sellers and strong buyer willingness to meet these prices.

The monthly average sales price has shown a steady increase throughout the past year. For instance, in June 2024, the average sales price was $436K, up from $410K in January 2024 and significantly higher than $388K in June 2023. This month-by-month appreciation highlights the sustained growth in property values in Spruce Grove.

Average Days on MLS®

Homes in Spruce Grove are selling faster in 2024 compared to previous years. The average days on market until sale decreased to 46 days, down 20.69% from the previous year. This reduction indicates a highly competitive market where homes are being snatched up more quickly, reflecting strong buyer interest and efficient market dynamics.

The Spruce Grove real estate market in 2024 is characterized by strong growth, high demand, and appreciating property values. Key metrics such as sold properties, average asking prices, and average sale prices all point to a vibrant and competitive market. The decreasing days on market and high ask to sell ratio further emphasize the market’s efficiency and attractiveness to buyers and sellers alike.

For investors, homeowners, and prospective buyers, understanding these trends and statistics is essential for making informed decisions. The continued growth and positive outlook for the Spruce Grove real estate market make it an attractive option for those looking to buy or sell property in the region.

The Spruce Grove real estate market is thriving. As we move forward into the latter half of 2024, staying abreast of these trends will be crucial for anyone involved in the market. Whether you are looking to buy, sell, or invest, the data and insights from the first half of 2024 provide a solid foundation for making strategic and informed decisions.

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 • 4 July 2024

Stony Plain Real Estate Statistics- June 2024

by Christina Reid

Stony Plain real estate market statistics

Stony Plain Real Estate Statistics Market Update: June 2024

Stony Plain real estate market latest trends. The real estate market in Stony Plain has experienced significant changes in 2024. As we navigate through the year, it’s essential to understand the dynamics that have shaped the market so far. This comprehensive review will delve into key statistics, trends, and insights, offering a thorough understanding of the Stony Plain real estate landscape.

Stony Plain, known for its charming small-town atmosphere and proximity to Edmonton, has seen a noticeable uptick in real estate activity in 2024. The market has been characterized by an increase in both the number of properties sold and the average sale prices. Let’s break down the numbers to see what this means for buyers, sellers, and investors.

Below Graphs Are Interactive

Stony Plain Real Estate – New MLS® Listings

New listings in the market have also seen a positive trend. The YTD figure for new listings in 2024 is 331, up 10.71% from 322 in 2023. While this indicates a healthy supply of properties entering the market, it also underscores the sustained demand as these properties are being absorbed at a fast pace.

Average Asking Price of Homes in Stony Plain

The average asking price in Stony Plain has also seen a rise. In 2024, the average asking price was $414K, reflecting a 2.64% increase from the previous year. When comparing YTD figures, the average asking price rose from $373K in 2023 to $420K in 2024, a notable 12.65% increase. This upward trend suggests that sellers are confident in the market’s ability to sustain higher prices, likely due to increased demand and a competitive buying environment.

Stony Plain Home Sales

In June 2024, Stony Plain recorded 49 sold properties, marking a 16.67% increase from June 2023. Year-to-date (YTD) figures are even more impressive, with 268 properties sold in 2024, up 32.02% from the 203 properties sold in the same period in 2023. This increase in sales volume indicates a robust demand for homes in the area, driven by a combination of factors including economic conditions, buyer confidence, and attractive property prices.

An analysis of monthly sold properties shows a consistent increase throughout the year. From January to June 2024, the number of sold properties each month ranged from 29 to 56, indicating a robust market with sustained sales activity. This monthly breakdown underscores the market’s resilience and the steady demand for real estate in Stony Plain.

Stony Plain Real Estate Market- Average Home Sale Price

Perhaps the most significant indicator of market strength is the average sale price. In June 2024, the average sale price reached $401K, which represents a substantial 20.17% increase from June 2023. The YTD average sale price was $388K in 2024, up from $347K in 2023, showing an 11.69% increase. These figures highlight a strong seller’s market where properties are commanding higher prices and buyers are willing to meet these valuations.

Over the first half of 2024, the monthly average has steadily risen, reflecting the broader trend of increasing property values. For instance, in January 2024, the average sale price was $301K, highlighting a steady climb through the year.

The average ask to sell ratio in 2024 stood at 0.994, a slight increase from 0.976 in 2023. This ratio, which compares the final sale price to the original asking price, suggests that homes in Stony Plain are selling very close to their asking prices, reflecting a balanced negotiation process between buyers and sellers.

Stony Plain Average Days on Market

One of the more dynamic changes observed in 2024 is the reduction in the average days on market until sale. In 2024, properties in Stony Plain were selling in an average of 28 days, down from 57 days in 2023, marking a 41.67% decrease. This rapid turnover indicates a highly competitive market where properties are quickly snapped up, often due to strong buyer interest and well-priced listings.

The Stony Plain real estate market in 2024 has demonstrated significant growth. With increased property sales, rising average prices, and quicker turnaround times, the market has favored sellers. However, the steady inflow of new listings ensures that buyers have options to choose from, maintaining a level of market equilibrium. As we move into the latter half of the year, these trends suggest a continued robust market, driven by strong demand and economic factors that favour real estate investments.

Looking ahead, the Stony Plain real estate market is poised for continued growth. Buyers and sellers should keep an eye on economic indicators, interest rates, and local development projects that could impact market dynamics. For now, the market remains vibrant and full of opportunities for those looking to invest in this charming Alberta town.

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

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

Town of Stony Plain Website

Rural Strathcona County Real Estate: Market Trends and Investment Opportunities • Rural Strathcona County Real Estate: Market Trends and Investment Opportunities • 4 July 2024

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

by Christina Reid

Rural Strathcona County Acreage Sales Chris Reid Edmonton Realtor

Rural Strathcona Country Real Estate Market- Sales Statistics June 2024

Rural Strathcona County real estate market continues to be a highly sought-after region for homebuyers and investors looking for acreages. With its picturesque landscapes, close proximity to Edmonton, and a blend of rural tranquility and urban convenience, it’s no wonder that the real estate market here remains vibrant. In this analysis, we delve into the latest trends and statistics for rural Strathcona County acreage sales, drawing on data from the first half of 2024.

Bar graphs below are interactive

Strathcona County -Acreage Listings

New listings have also seen an uptick. There were 72 new listings in June 2024, a 7.46% increase from the previous year. YTD new listings in 2024 reached 360, up from 309 in 2023, which is a 16.50% increase. The growing inventory provides more options for buyers and reflects a healthy and dynamic market.

Strathcona County – Average Acreage List Price

The average asking price has seen a significant rise, highlighting seller confidence. The YTD average asking price in 2024 was $936K, up 16.07% from $866K in 2023. This substantial increase indicates that sellers are optimistic about achieving higher returns on their properties.

Strathcona County –Acreage Sales

The first notable trend is the increase in the number of sold properties. In June 2024, there were 37 properties sold, marking a 5.71% increase from June 2023. Year-to-date (YTD) figures are equally promising, with 185 properties sold in 2024 compared to 152 in 2023, representing a significant 21.71% increase. This surge in sales indicates a strong demand for rural acreages in Strathcona County.

Strathcona County Real Estate Market –Acreage Average Sales Price

One of the most critical indicators of market health is the average sale price. In June 2024, the average sale price for rural Strathcona County acreages was $779K, a 3.46% increase from June 2023. Despite this month-to-month increase, the YTD average sale price showed a slight decrease of 2.55%, falling to $731K in 2024 from $751K in 2023. This minor decline suggests some market stabilization following previous rapid price increases.

The sale-to-ask ratio, which compares the final sale price to the initial asking price, provides further insight into market conditions. The YTD sale-to-ask ratio in 2024 is 0.970, slightly down from 0.975 in 2023. This small decrease indicates that while properties are still selling close to their asking prices, buyers may have a bit more negotiation power than in the previous year.

Strathcona County Acreage Average Days on Market

Another vital metric is the number of days properties spend on the market before being sold. In 2024, properties in rural Strathcona County have spent an average of 86 days on the market, down from 98 days in 2023. This 12.24% decrease suggests that properties are selling more quickly, likely due to the increased demand and competitive pricing.

To provide a clearer picture of market trends, it’s helpful to look at monthly and yearly comparisons. In June 2024, the average sales price was $779K, a 3.46% increase from June 2023. The monthly sold properties have seen slight fluctuations, with 37 properties sold in June 2024, compared to 44 in May 2024 and 32 in June 2023. These variations are typical in real estate markets and reflect seasonal changes and market dynamics.

The rural Strathcona County acreage market in 2024 shows promising signs of growth and stability. With increased sales, rising new listings, and competitive pricing, the market remains attractive to both buyers and sellers. As the region continues to develop and evolve, it will undoubtedly maintain its status as a desirable destination for those seeking the perfect blend of rural and urban living.

Looking ahead, the rural Strathcona County real estate market is expected to remain robust. The continued demand for acreages, coupled with limited inventory, will likely sustain price growth. However, buyers may benefit from the slight decrease in the sale-to-ask ratio, indicating some room for negotiation.

Investors and homebuyers should keep an eye on economic indicators and interest rate trends, as these can significantly impact market dynamics. Additionally, regional developments and infrastructure projects could further enhance the area’s appeal, driving future demand.

Whether you are a potential buyer looking for your dream acreage or a seller aiming to maximize your investment, understanding these market trends and dynamics is crucial. Stay informed, work with experienced real estate professionals, and make well-informed decisions to navigate this vibrant market successfully.

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

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

Strathcona County Website