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Are you a potential homebuyer or seller in St. Albert, Alberta? If so, you've come to the right place. In this market update for September 2023, we'll delve into the latest statistics and trends that can help you make informed decisions regarding your real estate transactions.
New Listings Overview
As of September 2023, St. Albert boasts a total of 182 new listings on the market, representing a 2.2% increase compared to the previous month. This increase in available properties can be a promising sign for homebuyers actively searching for their dream home in this charming city.
Total Sold Overview
The number of homes sold in St. Albert during September 2023 stands at 99, reflecting a 2.1% month-over-month increase and an impressive 15.1% year-over-year growth. This upward trajectory indicates a thriving real estate market in the area.
Single-Family Detached Homes
If you're in the market for a single-family detached home in St. Albert, you'll find that the average price for September 2023 is $577,035.1. This represents a 3.6% increase month-over-month and a significant 15.5% surge in prices compared to the same month last year.
On the other hand, the median price for a single-family detached home in St. Albert for September 2023 is $494,000. Although this marks a -7.4% decrease month-over-month, it still shows a respectable 10.2% year-over-year increase.
Half-Duplex Homes
For those interested in half-duplex properties, the average price in St. Albert for September 2023 is $347,166.3. This does reflect a -21.7% decline compared to the previous month and a -14.9% decrease year-over-year.
The median price for half-duplex homes in September 2023 is $334,000, showcasing a -23.1% drop from the previous month and a -15.1% decrease compared to the same time last year.
Condominiums
Condominiums offer an attractive housing option in St. Albert, with an average price of $245,079.4 in September 2023. This signifies a 10.3% increase month-over-month and a healthy 14.9% rise year-over-year.
On the other hand, the median price for condominiums in September 2023 is $207,950, which, despite a -7.6% decrease compared to the previous month, reflects a substantial 21.6% year-over-year increase.
Townhomes
Townhomes continue to be a popular choice in the St. Albert real estate market. In September 2023, the average price for townhomes is $273,819.9, showing a 4.7% increase month-over-month and an impressive 29.1% surge year-over-year.
The median price for townhomes in September 2023 is $247,000, marking a 14.9% increase from the previous month and a strong 28.6% year-over-year growth.
Sales-to-New-Listing Ratio
The sales-to-new-listing ratio for St. Albert in September 2023 stands at 0.54, indicating a balanced market where there are nearly as many sales as there are new listings. This equilibrium can provide buyers and sellers with reasonable negotiation opportunities.
Days On Market
In terms of Days On Market, the data for different property types in St. Albert is as follows:
Detached single-family homes spent an average of 57 days on the market before selling.
Duplex properties spent an average of 183 days on the market.
Condos/apartments had a swift turnover, spending an average of 56 days on the market.
Townhomes were in high demand, with an average of 29 days on the market.
These figures give you a glimpse into the pace of the market and can help you set realistic expectations when buying or selling your property.
Conclusion
In conclusion, the St. Albert real estate market in September 2023 exhibits dynamic trends with varying price movements across different property types. Whether you're a buyer or seller, understanding these trends can empower you to make well-informed decisions. For more information on the St. Albert real estate scene, feel free to explore our comprehensive St. Albert Real Estate Page or browse our insightful blog, where you can find valuable articles like "The Top 5 Richest Neighborhoods in Edmonton" and "How Much Does It Cost to Sell Your House in Alberta in 2023?"