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