Market Update – July 2018

Take a look at the month of Julys real estate market update for Spruce Grove, Stony Plain, Rural Parkland County and Rural Lac Ste Anne County below.

Spruce Grove:

Single Family

• Currently active – 315

• Sold in July – 49

• Average sale price – $375,015

• Median sale price – $373,000

• 6.4 months of inventory

Condominium

• Currently active – 51

• Sold in July – 7

• Average sale price – $235,857

• Median sale price – $256,000

• 7 months of inventory

Stony Plain:

Single Family

• Currently active – 178

• Sold in July – 27

• Average sale price – $330,988

• Median sale price – $322,900

• 6.6 months of inventory

Condominium

• Currently active – 39

• Sold in July – 2

• Average sale price – $153,000

• Median sale price – $153,000

• 19 months of inventory

Rural Parkland County:

Country Residential

• Currently active – 397

• Sold in July – 48

• Average sale price – $541,454

• Median sale price – $510,750

• 8 months of inventory

Vacant Lot

• Currently active – 231

• Sold in July – 6

• Average sale price – $166,916

• Median sale price – $200,000

• 38 months of inventory

Rural Lac Ste Anne County:

Country Residential

• Currently active – 251

• Sold in July – 29

• Average sale price – $310,657

• Median sale price – $275,000

• 8.6 months of inventory

Vacant Lots

• Currently active – 146

• Sold in July – 7

• Average sale price – $153,164

• Median sale price – $119,900

• 20.8 months of inventory

If you have any questions about the real estate market, buying or selling, please feel free to contact me at (780) 718-1052 and I would be happy to answer them for you!

Months of inventory = the measure of how many months it would take for all of the currently active listings to sell. This is a great indicator of whether it is a buyer’s or seller’s market.
Seller’s market = 3 or less months of supply
*Balanced market = 3-4 months of supply
*Buyer’s market = 5+ months of supply