St. Albert Real Estate Market Update - July 2023

St. Albert Real Estate Market Update - July 2023

Welcome to the latest St. Albert Real Estate Market Update for July 2023. As a dedicated real estate agent serving both home buyers and sellers in the St. Albert area, I am excited to share with you the most recent trends and statistics that reflect the dynamic landscape of the local housing market. Let's delve into the numbers and gain insights into the current state of the St. Albert real estate market.

Total Homes Sold and Market Trends

In July 2023, a total of 120 homes were sold in St. Albert. This reflects a -13.7% month-over-month change, and a -0.8% year-over-year change. The total of 148 homes were listed for sale in the month of July. This is a change of -25.3% from the previous month. The market has shown some fluctuations, but these numbers provide valuable information about the current demand and supply dynamics.

Month-over-month change in total  homes sold in the St. Albert Real Estate Market

Pricing Trends for Single-Family Detached Homes

The average price of a single-family detached home in St. Albert during July 2023 was $520,357. This represents a -2.2% MoM change and a -1.1% YoY change. Meanwhile, the median price for these homes was $475,000, remaining steady MoM but reflecting a -5.3% YoY decline.

Half-Duplex and Condominium Prices

The half-duplex segment of the market experienced an average price of $408,941.7, which changed by -2.4% MoM and -15.3% YoY. The median price for half-duplexes was $381,250, showcasing a -5.6% MoM decrease and a -20.8% YoY decline. On the other hand, condominiums exhibited an average price of $247,390.9, marking a substantial -32.4% MoM change, while the median price stood at $212,500 with a modest 2.7% MoM change.

Flourishing Townhome Market

Townhomes have shown remarkable growth, with an average price of $373,366.6, experiencing a significant 26% MoM increase and a substantial 46.3% YoY surge. The median price of townhomes reached $379,400, demonstrating a 25.4% MoM increase and an impressive 50% YoY rise. The townhome market is certainly one to watch as it continues to evolve.

Sales-to-New-Listing Ratio and Days on Market

In July 2023, the sales-to-new-listing ratio for St. Albert was 0.81, indicating a sellers market. As for the cumulative Days on Market, the statistics are as follows:

  • Detached Single-Family Homes: 61 days

  • Duplexes: 85 days

  • Condominiums/Apartments: 64 days

  • Townhomes: 57 days

Stay Informed and Make Informed Decisions

The St. Albert real estate market is constantly evolving, and staying up-to-date with the latest trends and statistics is essential for both buyers and sellers. Whether you are looking to purchase your dream home or considering listing your property for sale, understanding the current dynamics can greatly influence your decisions.

In conclusion, July 2023 has seen its share of fluctuations and growth within the St. Albert real estate market. As a dedicated real estate agent, I am here to guide you through the complexities of buying or selling a home in this ever-changing landscape. If you have any questions or are ready to embark on your real estate journey, don't hesitate to contact me. Your goals are my priority, and I'm excited to help you navigate the St. Albert real estate market with confidence.

Sources: The data is sourced from the MLS.The information provided in this blog is ‘as is’ with no guarantee of accuracy or completeness.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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