As we step into fall, the real estate market in St. Albert offers valuable insights for buyers and sellers alike. September’s residential sales data reveal trends in property prices, average days on market, and neighborhood preferences.
Market Highlights:
1. Average and Median Prices:
• The average listing price (LP) for residential properties in September was approximately $430,934, while the average sale price (SP) closed slightly higher at $460,626.
• The median sale price was $461,500, indicating steady demand and competitive pricing.
2. Price Range:
• Homes sold in a broad price range, from a low of $100,600 for entry-level apartments in Akinsdale to a high of $820,000 for larger, high-end properties in neighborhoods like Oakmont. This diversity reflects St. Albert’s appeal to various budgets and preferences.
3. Property Types and Sizes:
• Most homes sold were around 1,523 square feet with an average of 3 bedrooms and 2 bathrooms, appealing to both growing families and those seeking spacious living arrangements.
• St. Albert’s neighborhoods offer a mix of townhomes, detached homes, and apartments, with popular areas such as Grandin, North Ridge, and Erin Ridge North featuring prominently in recent sales.
4. Days on Market (DOM):
• The average time for a home to be sold was 38 days, indicating a moderate-paced market where properties move fairly quickly but still allow for buyer deliberation. Properties priced strategically saw even faster turnover.
Neighborhood Insights:
• Akinsdale and Grandin: These areas remain attractive for first-time buyers, offering a mix of apartments and townhomes within the $100,000 to $300,000 range.
• North Ridge and Erin Ridge North: Known for their newer builds, these neighborhoods saw prices reaching up to $600,000, particularly appealing to families and those seeking modern amenities.
• Luxury Market: Oakmont and Kingswood top the luxury market list, with properties nearing the $800,000 mark. These areas cater to buyers seeking spacious, high-quality homes with upscale finishes and larger lot sizes.
Trends Moving Forward:
The steady median and average sale prices reflect a balanced market. The diversity in property types and price points suggests that St. Albert will continue to attract a range of buyers. As the market heads deeper into fall, sellers who price their properties competitively and keep their homes well-maintained should expect continued interest from prospective buyers.
Whether you’re looking to buy or sell in St. Albert, understanding these trends can help you make informed decisions and capitalize on the current market dynamics.
This snapshot offers a comprehensive look at St. Albert’s real estate performance in September and sets expectations for the coming months.
