October Real Estate Market Update: St. Albert, 2024

As October wraps up, the latest real estate statistics for St. Albert reveal valuable insights for prospective buyers and sellers. This month’s data highlights property trends, price ranges, and neighborhood popularity, reflecting a stable yet active market.

Market Overview:

1. Average and Median Prices:

   • The average listing price (LP) for residential properties was $345,220, while the average sale price (SP) rose to $403,918.

   • The median sale price of $417,000 suggests continued stability, indicating balanced demand across different property types.

2. Price Range:

   • October saw a wide range of sale prices, from a low of $120,000 for an apartment in downtown St. Albert to a high of $630,000 for a larger detached home in Heritage Lakes. This spectrum showcases St. Albert's versatility in appealing to a diverse buyer pool.

3. Property Types and Sizes:

   • The average home sold was around 1,400 square feet with 3 bedrooms and 2 bathrooms, a popular configuration for both families and first-time buyers.

   • Properties range from compact apartments and townhomes to spacious detached homes, offering something for nearly every type of buyer.

4. Days on Market (DOM):

   • The average DOM was 27, showing a healthy rate of activity in the market. Homes that were competitively priced and move-in ready sold even faster, emphasizing the value of preparation and pricing strategy.

Neighborhood Insights:

• Affordable and Mid-range Markets:

  • Grandin, Mission, and Akinsdale continued to attract buyers looking for affordable options, with many sales between $120,000 and $300,000.

• Higher-end Markets:

  • Neighborhoods like Riverside, Oakmont, and Heritage Lakes feature prominently for higher-end buyers, with homes selling between $500,000 and $630,000. These areas offer newer builds with premium features, appealing to families and those seeking more spacious layouts.

Trends and Takeaways:

As we move towards the year’s end, St. Albert’s market remains robust and versatile, with steady prices and a range of options for all buyer types. Sellers aiming for a swift sale should prioritize presenting their homes well and pricing them in line with market trends.

Whether you're considering buying or selling in St. Albert, understanding these market dynamics can help you make informed decisions and make the most of the current real estate landscape.