St. Albert Real Estate Market Update - Nov 2023

St. Albert Real Estate Market Update - Nov 2023

Overview of St. Albert Real Estate

If you're considering buying or selling a home in St. Albert, it's crucial to stay informed about the current real estate market trends. In this market update for November 2023, we'll delve into the latest statistics, providing valuable insights for both potential buyers and sellers.

New Listings Overview

In November 2023, St. Albert saw a total of 108 new home listings, marking a notable change of -23.4% from the previous month. This dip in new listings may indicate a potential shift in the market dynamics, influencing supply and demand.

Total Sold Overview

On the flip side, the total number of homes sold in St. Albert during November 2023 was 90, showcasing an 8.4% month-over-month increase. Interestingly, this reflects a substantial 76.5% year-over-year growth, emphasizing the dynamism of the local real estate scene.

Single-Family Detached Homes

For those interested in single-family detached homes, the average price in St. Albert reached $569,356.5 in November 2023, experiencing a 11.4% month-over-month and a remarkable 19% year-over-year increase. The St. Albert Single Family Homes for Sale page can offer more details on available listings.

The median price for single-family detached homes was $499,998, marking a 5.3% month-over-month and a 13.6% year-over-year change.

Half-Duplex Market

For those eyeing half-duplex properties, the average price in St. Albert was $450,692.2, witnessing a 12.2% month-over-month and an 11.7% year-over-year surge. Detailed listings can be explored on the St. Albert Duplex for Sale page.

The median price for half-duplex homes was $472,500, indicating an 8.3% month-over-month and an 18.4% year-over-year change.

Condominiums and Townhomes

Condominiums in St. Albert experienced a mixed bag in November 2023. The average price was $178,541.2, reflecting a -11.9% month-over-month and a -5.7% year-over-year change. Meanwhile, the median price dipped to $111,000, showcasing a -27% month-over-month and a substantial -45.6% year-over-year shift.

For townhomes, the average price was $270,340, with a modest 2.3% month-over-month and a robust 17.2% year-over-year increase. The St. Albert Townhomes for Sale page offers a closer look at available options.

The median price for townhomes was $262,250, indicating a -4.6% month-over-month and a noteworthy 28.6% year-over-year change.

Market Metrics

Understanding market metrics is crucial. In November 2023, the sales-to-new-listing ratio for St. Albert stood at 0.83.

Days on Market

The cumulative Days On Market (DOM) for St. Albert varied across property types. Detached single-family homes spent 65 days on the market, duplexes 63 days, condos/apartments 35 days, and townhomes 55 days.

In conclusion, St. Albert's real estate market is dynamic, presenting opportunities for both buyers and sellers. Stay tuned for further updates, and for personalized guidance in navigating the market, feel free to reach out to a dedicated St. Albert real estate agent.

Date Sources: Data 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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