2022 St. Albert Real Estate Market Recap

Trends, Insights, and Key Takeaways from 2022 in the St. Albert Real Estate Market

If you were keeping an eye on the St. Albert real estate market in 2022, you likely noticed a year full of activity, price changes, and shifting dynamics. From a fast-moving spring market to a more balanced end of the year, St. Albert homes for sale experienced noteworthy trends that will shape decisions for buyers, sellers, and homeowners in 2023. In this post, we take a deep dive into the monthly market performance, average prices, neighborhood insights, and trends across property types.

Whether you are looking to buy, sell, or simply stay informed, here is your comprehensive overview of the St. Albert property market in 2022.

Market Highlights for St. Albert Real Estate in 2022

1. Strong Start to Spring: March, April, and May saw a surge in demand, driving prices upward and reducing the average days on market.
2. Price Per Square Foot Growth: The average price per square foot rose steadily throughout the year, reflecting increasing property values.
3. Record Sales Volumes in Spring: May recorded the highest number of sales with 181 properties sold.
4. Market Balance in the Fall: The latter part of 2022 saw a slowdown in sales volume, signaling a more balanced market for buyers and sellers.
5. Neighborhood Insights: Communities like Akinsdale, Heritage Lakes, and Oakmont were among the top-performing neighborhoods for both sales and price appreciation.

Let’s explore these trends month by month to see how the St. Albert real estate market performed and what it means for you.

Month-by-Month Real Estate Trends in St. Albert

January to February: A Steady Start

The year began with moderate activity. January recorded 52 total sales with properties spending an average of 61 days on market. While buyer demand was steady, sellers benefited from lower competition and motivated winter buyers.

By February, momentum started to build, and 97 homes sold. The average price per square foot increased to $285.91, hinting at rising buyer interest as the spring season approached.

March to May: The Spring Surge

The spring market in St. Albert was nothing short of exceptional:

• March: Sales rose sharply to 161 homes sold, and the average price per square foot climbed to $309.91.
• April: The upward trajectory continued with 173 sales. Properties spent an average of 28 days on market, a significant drop reflecting fierce buyer competition.
• May: This month marked the peak of activity with 181 homes sold. Average days on market hit a yearly low of 25 days, and the price per square foot rose to $316.21.

For sellers, this period was ideal for listing properties as demand was high, and buyers were willing to pay competitive prices.

June to August: Market Stabilization

As summer arrived, the market showed signs of stabilizing. Sales volumes declined slightly compared to spring but remained strong:

• Buyers enjoyed more choices as inventory increased.
• Sellers still commanded favorable prices, though the frenzied multiple-offer scenarios of spring started to wane.

For homeowners in St. Albert, this period reflected a healthy balance, providing a mix of opportunity and negotiation room.

September to December: A Balanced Finish

The final quarter of 2022 brought a more balanced market. Sales volumes dipped further, typical for the fall and winter seasons:

• September to October: Buyer activity remained steady but slowed compared to earlier months.
• November to December: Homes spent slightly longer on the market, averaging between 45 to 60 days.

This shift marked a return to normalcy after two years of heightened activity. Buyers benefited from reduced competition, while sellers adjusted to a more moderate pace.

Neighborhood Spotlight: Top Communities in St. Albert

Several neighborhoods stood out in 2022 for their performance in sales, pricing, and demand:

1. Akinsdale: A favorite for buyers seeking affordable condos and single-family homes.
2. Heritage Lakes: Consistently popular, offering excellent value and family-friendly properties.
3. Oakmont: Known for higher-end homes, Oakmont saw steady price appreciation throughout the year.
4. Erin Ridge: This neighborhood remained attractive for its newer developments and modern amenities.
5. Grandin: A classic community with a mix of property types that appealed to diverse buyer needs.

Key Insights for Homeowners, Buyers, and Sellers

For Homeowners

If you own a property in St. Albert, 2022 was a strong year for appreciation. The steady rise in the average price per square foot indicates that real estate remains a solid investment. Staying informed on trends in your neighborhood, like days on market and average prices, will help you assess your property’s value heading into 2023.

For Buyers

Buyers entering the market in 2023 can take away important lessons from 2022. While spring remains competitive, opportunities increase in the later months of the year when sales slow. Working with a real estate agent early in the year can give you an edge when St. Albert homes for sale start hitting the market.

For Sellers

For sellers, 2022 showed that spring is the prime time to list properties. Homes sold faster and at higher prices between March and May. Properly preparing your home for the market, with pricing strategies aligned to current trends, will ensure success.

2022 by the Numbers: Quick Recap

• Peak Sales Month: May, with 181 sales.
• Fastest Days on Market: 25 days in May.
• Highest Price Per Square Foot: $316.21 in May.
• Steady Neighborhoods: Akinsdale, Oakmont, and Heritage Lakes led in demand and value.

What’s Next for St. Albert Real Estate in 2023?

The trends of 2022 point to a market that remains strong, balanced, and full of opportunity. While spring will likely continue to favor sellers, buyers can benefit from increased inventory and stabilizing conditions in the latter part of the year.

For homeowners, the continued growth in property values solidifies real estate as a key investment. Whether you’re considering upgrading, downsizing, or simply curious about your property’s current value, understanding these trends is crucial.

Final Thoughts

The 2022 St. Albert real estate market demonstrated resilience, demand, and opportunity for all. With record-breaking spring sales, steady summer stabilization, and balanced conditions to close out the year, St. Albert homes for sale proved to be both a wise investment and a reflection of a growing community.

Whether you’re buying, selling, or simply exploring the market, staying informed on St. Albert property trends is the key to success. Ready to make your next move? Connect with a trusted local real estate professional to help you navigate the exciting opportunities ahead in 2023.