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Here's an overview of St. Albert real estate market update for the month of April 2023.
There were 175 homes listed on the market for sale, which is 10.3% less than last month.
A total of 132 homes were sold in April, a 32% increase from the previous month. However, compared to the same period last year, sales have decreased by 24.1%.
Detached single-family homes: The average price of these homes was $543,819, which is a 2.3% drop from the previous month and a 0.8% drop from last year.
The median price was $510,250, with a 2.8% drop from the previous month and no significant change from last year.
Duplexes: In April 2023, the average price of a half-duplex was $422,995, which is a notable 5.8% drop from the previous month and a remarkable 11.3% increase from last year.
Condo: The average price of a condominium is now a mind-blowing $318,750, a 39.3% surge from the previous month and a 7.7% increase year-over-year.
The median price stood at $222,000, a 3.4% climb from last month. Condo prices have dropped 12.9% from last year. The difference between the mean and median price could be due to an outlier.
Townhomes: As of April 2023, the mean price of a townhome stood at $280,893.3. This marks a noteworthy 14% decrease from the preceding month, but still a 19.9% surge from the previous year.
Meanwhile, the median cost lingers at $255,000, despite experiencing a more significant 17.3% dip from the preceding month. Year-over-year, the median townhouse prices are up an impressive 18.3%.
Sales-to-new-listing ratio: The sales-to-new-listing ratio in St. Albert sits at 0.75, indicating a market that is currently favoring the sellers.
Cumulative Days On Market: Single-family detached homes spent on average 55 days on the market before selling. While duplexes were on the market for a moderately-lengthy 93 days. Condominiums, on the other hand, took 112 days to sell, and townhouses sold in a respectable average of 79 days.
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