2018: Real Estate Market Review

The last 12 months have shown to be cautious and uncertain in the real estate market. We saw major changes in borrowing rules and interest rates, both which significantly impacted buyers’ ability to upgrade their home, and for many first-time buyers, made it questionable if they could even enter the market in a starter home.

Thankfully our community of Leduc has continued to remain relatively steady and stable. In 2018 the number of single family homes increased to 471 sold, whereas in 2017 we had only 404 single family homes sell. The average sale price for single family homes was $356,720 in 2018, which represented a 2.83% decrease from 2017’s average price at $367,380.

Condo sales were consistent with 64 condos sold in both 2018 and 2017. Surprisingly, we saw an increase in condo’s average sale price by 2.19% reaching $229,978 in 2018, compared to 2017’s average price which was at $225,059.

Housing also take a little longer to sell. In 2018 single family homes averaged 67 days on market to sell, compared to 62 days on market in 2017. Condos averaged 82 days on market to sell, compared to 81 days on market in 2017.

The charts below break down single family homes and condominiums sold in Leduc into various dwelling types, including the total number of each that sold, the average on market and their average sales price in 2018


Building Type                   Number Sold    Average Days on Market    Average Sales Price
Residential Detached             389                          66                            $370,020
Residential Attached                15                           71                            $299,800
Half Duplex                              63                           73                            $295,832
Side by Side Duplex                    1                           78                            $530,000
Vacant Land                               3                           53                            $137,666
*Numbers taken from research completed on  https://rae.paragonrels.com

CONDO (2018)

Building Type    Number Sold    Average Days on Market    Average Price
Apartment               16                          92                          $221,250
Townhouse               32                         81                           $214,201
Carriage                    4                          74                           $172,750
Duplex style             11                          76                           $299,381
Detached condo        1                           84                           $340,000
*Numbers taken from research completed on  https://rae.paragonrels.com

These numbers represent our community of Leduc as a whole and will differ from one neighborhood to the next. If you’d like a specific break down for your area, contact us and we’d be happy to share further info with you. 

If you’re considering a move or would like an updated market evaluation on your home, call us today. It is always our highest honour to serve you in any way we can!

Jason Rustand with RE/MAX Real Estate serves with the highest level of integrity and excellence every time.  For more info on this topic or others related to real estate, text or call Jason direct at 780.919.0004, email jrteam@shaw.ca or visit WeSellLeduc.com