Market Update – October 2018

By: Deanalee Zuccatto

Take a look at the month of September 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 – 223

• Sold – 40

  • Average sale price – $341,004

  • Median sale price – $325,500

• 5 months of inventory

Condominium

• Currently active – 48

• Sold – 4

  • Average sale price – $218,740

  • Median sale price – $213,500

• 12 months of inventory

Stony Plain:

Single Family

• Currently active – 144

• Sold – 16

  • Average sale price – $347,681

  • Median sale price – $353,750

• 9 months of inventory

Condominium

• Currently active – 45

• Sold – 2

  • Average sale price – $244,610

  • Median sale price – $244,610

• 5 months of inventory 

Rural Parkland County:

Country Residential

• Currently active – 286

• Sold – 30

  • Average sale price – $587,471

  • Median sale price – $410,000

• 5 months of inventory

Vacant Lot

• Currently active – 205

• Sold – 9

  • Average sale price – $200,666

  • Median sale price – $210,000

• 7 months of inventory

Rural Lac Ste Anne County:

Country Residential

• Currently active – 190

• Sold – 12

  • Average sale price – $284,637

  • Median sale price – $297,000

• 8 months of inventory

Vacant Lots

• Currently active – 140

• Sold – 2

  • Average sale price – $54,500

  • Median sale price – $54,500

• 70 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