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Sherwood Park Real Estate Market Update

Tue, 27 May by Sonia Tarabay

sherwood-park-real-estate-market-updateIf you’re thinking about buying or selling a home in Sherwood Park or the wider Edmonton area in the next 6 months, it’s a good idea to keep an eye on the monthly market stats to see where the trends are.

Sherwood Park Real Estate Market Stats

In April, single family home total sales were up 33.8% from March, and up 12.6% from last April. That’s a great sign that more people are looking at buying Sherwood Park real estate and bringing their families to our great city this summer, which is good news if you’re planning on selling.

Looking at average price, the average selling price of a single family home in Sherwood Park has fallen slightly from last month, down around $6,000, or 1.4% from last month. When we dig deeper into the numbers, what we find is that more people are looking to buy homes at a more modest budget: Starter homes and first time home buyers are extremely active right now. We see this in particular when we look at the condo market where sales are up and the average price has increased by 3.5% over last month.

Sherwood Park Market Stats, Month-Over-Month

April 2014 March 2014
Single Family Home Sales 107 80
Single Family Home Average Price $452,448 $458,691
Condo Sales 30 21
Condo Average Price $328,963 $317,723

What about your long term investment? When we look year­-over-­year, we see that single family homes in Sherwood Park are continuing to increase in value overall. The average price of a Sherwood Park house has risen 2.6% since 2013, and 8.9% since 2012. And since Sherwood Park is growing, it’s a good bet your investment in the real estate market will continue to grow as well.

Sherwood Park Market Stats, Year-Over-Year

April 2014 April 2013 April 2012
Single Family Home Sales 107 95 94
Single Family Home Average Price $452,448 $441,062 $415,520

When I compared active listings from the last 90 days for Sherwood Park with active listings from Edmonton for the same time period, we can get a “current snapshot” of how the two markets compare.

Active Listings (Last 90 Days)

Sherwood Park Average Edmonton Average
List Price $476,625 $453,395
Days on Market 30 Days 46 Days
Price / Sq.Ft. $304/sq.ft. $297/sq.ft.
Home Age 17.1 Years 23.3 Years

The average list price of homes in Sherwood Park is higher than Edmonton, as is the price per square foot. The best news for home owners selling Sherwood Park real estate is the average days on market: in Sherwood Park, the average days on market is only 30 days, compared to Edmonton at 46 days!

Are you a stats geek who wants all the numbers? Check out the REALTORS® Association of Edmonton website for current monthly stats for the entire Edmonton area.

Selling Sherwood Park Real Estate: Price it Right

Of course, once you’re ready to buy or sell, these kinds of monthly stats are too broad, especially for sellers: In order to price your home correctly for the current market, you need to consider more specific factors, including what price comparable homes are selling for right now in your neighbourhood. You won’t find these stats in a PDF or news release: You’ll need an experienced Sherwood Park REALTOR® to help you understand the value of your property in the current market.

Ready to sell your Sherwood Park Home? Call me to get started with a Sherwood Park Comparative Market Analysis and Home Evaluation. Together, we can get the best price for your home.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.