st.albert community
 
One of the most desirable places to live in Canada, St. Albert is a sought after community located just Northwest of Edmonton.  With prices well below the Canadian Average the real estate market is heating up.  Single Detached homes are selling close to their list prices (with a sale-to-list price ratio of 98% for January), properties are receiving multiple offers, and a relatively quick average days to pending is what we are seeing for most properties.
 
But what really does this all mean?  These factors demonstrate strong demand and competition for homes, which typically benefit sellers. However, it's important to note that there are still opportunities for buyers, as evidenced by a percentage of sales occurring below list price. Sellers for Single detached homes are getting 98% of their list price, attached homes obtained 98% and condos sold for 99% of their list price. 
 
We saw a large increase in listings actually come onto the market in when compared to December, giving buyers more properties to select from.  We can't wait to see what happens in the upcoming months with what is seemingly increased consumer confidence. 
 
For January we saw fairly low months of inventory in St. Albert - which is defined as the amount of time (or months) it would take for all current MLS® listings to sell given that no new listings enter the market.  As of January 31, if no other properties were listed we would have 2.8 months of inventory. 
 
JANUARY 2024 MARKET STATS FOR ST. ALBERT
 Jan2024RealEstateStats
 
We'd love to chat with you about all things real estate, anytime! Whether you're planning a move soon or years down the line, We are here to provide insights, guidance, or just a friendly conversation about the market. And hey, we are all ears for your feedback on specific topics you'd like to see – let us know what you think and how we can add more value to your real estate journey. Just hit reply, and let's talk!
 
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Posted by Robert and Shawna Eskiw on

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