Should I Sell My Home in 2022? Top Real Estate Trends Examined

Planning to sell your home in 2022? We examine the top real estate trends in the Lakeland region to help you decide whether or not it’s the right time to make a move. 

Whether you’re looking to buy your first home, or sell or purchase property after several years out of the market, it’s a good idea to do your research on the specific community you’re interested in investing in. 

Every community is different. 

The St. Paul, Alberta market will be different from, say, the Bonnyville market. Both will have their own unique real estate trends you should consider when looking to buy or sell property. 

We’ve put together this mini information manual to guide you to a better understanding of the St. Paul and Bonnyville, Alberta real estate markets. 

Keep it handy and refer to it often as you prepare to list or purchase a home in 2022. 

Real Estate Trends in St Paul, Alberta

How long will it take to sell your home? Real estate trends continue to say: it depends. 

The first step to selling your property quickly and easily is pricing it appropriately. Factors like location, age, lot size, number of bedrooms and bathrooms, square footage, upgrades, and comparables all matter when pricing a home. 

As experts in the St. Paul, Alberta real estate business with over 50 years and two generations of experience, we can guide you through the process of establishing an asking price for your home.  

Once we’ve priced your dwelling, we’ll market it so that it not only shows well to potential buyers but also stands out against competitive listings. From staging to photography, descriptions to getting the word out, we’ll handle everything. 

What do real estate trends for 2022 say about how long I should expect my home to be on the market? Keep reading to find out.

Days on the Market: St. Paul Real Estate Trends

In 2020, 51 residential properties were sold in St. Paul. The average number of days on the market was 131. The fastest sale happened in twelve days, while the longest listing on the market was for 662 days. The median time for a property to be on the market was 99 days. 

Compare this to what sold in St. Paul in 2021:

• Number of active listing as of Dec 2021: 51
• Number of properties sold: 92, an increase of 76.9% over 2020
• Average: 153 days
• Minimum: 2 days
• Maximum: 1261 days
• Median: 87 days

The trend shows a hefty increase in how long a St. Paul property is on the market. 

Let’s now compare St. Paul, Alberta home sale prices between 2020 and 2021. 

Sales Trends: Home Prices in St. Paul 

In 2020, list prices in St. Paul ranged from $59,900-599,900, less than the asking price range ($60,000-562,500). The average sold price was $244,613; the average list price was $258,468; the median was $249,900. 

When we compare those numbers to 2021 St. Paul home sales, we see the following:

• Lowest list price: $89,900 
• Lowest sold price: $85,000
• Highest list price: $580,000
• Highest sold price: $565,000
• Average list price: $281,145, a 8.77% increase over 2020
• Average sold price: $268,944
• Median list price: $269,400
• Median sold price: $260,000

Market trends show an increase in sale prices from 2020 to 2021. St. Paul’s average home price increased by 9.95%. Average prices still fall well below the national average, however ($268,944 compared to $680,000, respectivefully).

What’s promising is St Paul’s real estate list-to-selling ratio, or the amount a home sells for as a percentage of it’s listing price. At 95.66%, this spells excellent news for those looking to sell their homes without much need for negotiation.  

Real Estate History: How Old Are St. Paul Homes?

Like many towns in Western Canada, St. Paul has a long, rich history. Real estate in the region speaks to this history—some St. Paul heritage homes are over 100 years old.

At the same time, real estate trends in St. Paul also speak to the modernity and growth of the town in many years. 

As more and more people move to the Lakeland region for the lifestyle, developers have started to build new custom homes and renovate older ones to meet the demands of new residents. 

Whether you’re looking to sell a heritage home or a modern dwelling, you’ll find a buyer for your St. Paul property with the right marketing approach.

Current real estate sale trends in St. Paul

St. Paul offers a variety of property types from condos to townhomes, vacant lots to single-family detached homes. 

As of December 2021, 51 active residential listings existed for the Town of St. Paul. One listing was a condo and the remainder were single-family homes. 

What’s for sale now in St. Paul, AB

The following properties were on the market as of December 2021:

• An affordable 2-bedroom, 2-bath, 860 sq-ft detached single family home perfect for first-time home buyers or property investors complete with large lot and double detached garage.
• A real estate investor’s dream 2,378 sq-ft side-by-side duplex that comes with two family rooms (one on the main floor and one in the basement), laundry room, fenced backyard, and large driveway for both units.
• A move-in ready 5-bedroom, 3-bath, single-family home with over 2,400 sq-ft of living space located across the street from the Iron Horse and community walking trails.
• A pristine 5-bedroom, 2+1-bath, 1,520 sq-ft home with upgraded finishes including basement in-slab heating, gas fireplace, soaker tub, and private deck off the master suite, plus heated attached double garage and a beautifully landscaped backyard.

As of December 2021, the properties for sale in St. Paul ranged as follows:

• The list price for the one condo was $263,550,
• Vacant plots of land available for sale ranged from $35,000-$325,000, and
• For single-family homes, the average list price was $224,714 ranging from $35,000 (for a mobile home) to $579,900.

Real estate trends showed the average number of days on the market at the end of 2021 to be 155. 

Real Estate Trends in Bonnyville, Alberta

Although the specific numbers are different, housing sales in Bonnyville followed similar trends in 2021 compared to those of the Town of St Paul. 

We put together the specifics to help you take the temperature of the Bonnyville real estate. 

Days on the Market: Bonnyville Real Estate

As with the Town of St. Paul, let’s compare 2020 and 2021 home sales in Bonnyville.

In 2020, 62 residential properties were sold in Bonnyville. The average time a home was on the market was 132 days. The fastest sale happened in only four days, while the longest was 609 days. The median time for a sale was 77 days. 

Let’s compare this to 2021 numbers:

• Number of active listings as of Dec 2021: 92 
• Number of properties sold: 88, an increase of 41.9% over 2020
• Average: 274 days
• Minimum: 2 days
• Maximum: 1626 days
• Median: 111 days

The above numbers indicate a decrease in the amount of time a property sat on the market in 2021. The increase in Bonnyville home sales agrees with national statistics which broke annual records in 2021.  

How do home sale prices compare then between 2020 and 2021? Let’s have a look. 

Sales Trends: Homes Prices in Bonnyville

Although the specific numbers are different, housing sales in Bonnyville followed similar trends in 2021 compared to those of the Town of St Paul. 

In 2020, sold prices ranged from $30,000-467,000, less than the asking price range ($34,900-479,900). The average sold price was $238,475; the average list price was $255,195; the median was $274,900. 

When we compare those numbers to 2021 Bonnyville home sales, we see the following:

• Lowest list price: $49,900 
• Lowest sold price: $31,000
• Highest list price: $624,900
• Highest sold price: $580,000
• Average list price: $288,247, a whopping 12.95% increase over 2020
• Average sold price: $273,803
• Median list price: $289,900
• Median sold price: $273,350

Market trends show a whopping 14.81% increase in real estate prices in 2021 compared to 2020. But like St Paul, the Bonnyville area also features a considerably lower average price than the national average, $273,803 compared to $680,000, respectively.

Bonnyville’s real estate list-to-selling ratio is very promising. At the end of 2021, the ratio sat at 94.44%, very similar to that of St. Paul’s. Good news for home sellers.  

Real Estate History: How Old Are Bonnyville Homes?

Like St. Paul, the history of Bonnyville is rich and historic, one that is tied to the fur trade. 

The Town of Bonnyville is said to have been built on determination and hard work. 

The first framed house, now part of the Bonnyville Museum, was built in 1908. Although you won’t find it on a list of homes for sale in the region, it isn’t uncommon to find properties dating back to the 1940’s and 50’s.  

Contrarily, current property listings also offer newer modern homes. From custom builds to those part of newer neighbourhoods, Bonnyville offers a gamut of real estate options built in the past few years.

No matter the age of your home, real estate trends show you can find a buyer for your Bonnyville property.

Current Real Estate Sale Trends in Bonnyville

Similar to St Paul, the Bonnyville real estate market offers a variety of properties and opportunities depending on what you’re looking for. 

Do you want to downsize? There’s a condo for you. Do you have a larger budget that you hope will get you closer to the Lakeshore? There are homes that match that description. Would you like a blank slate of a lot on which to build your dream home? Bonnyville has those too. 

One difference when compared to St Paul is that by the end of 2021, condos were easier to come by in Bonnyville.

As of December 2021, there were 92 active residential listings in the Town of Bonnyville, five of which are condos and the rest were either attached or detached single-family homes. 

What’s for sale now in Bonnyville, AB

You could find the following properties on the market in Bonnyville in December 2021:

• A 5-bedroom, 3-bathroom, 1,389 sq-ft single family home with a large eat-in kitchen, bright living room, large south facing windows, developed lower level, fenced yard, and double detached garage. 
• A stylish 4-bedroom, 3-bathroom, 1,452 sq-ft by-level single family custom built home on a corner lot one block away from the Lakeshore.
• A charming 2-bedroom, 1-bath 667 sq-ft single family home with original hardfloor floors and kitchen cabinets, an unfinished basement ready for development, and a huge lot. 
• A quiet 2-bedroom, 2-bathroom 997 sq-ft condo in an ‘adult only’ building with underground parking, new kitchen flooring, and west-facing balcony views of the back lane, mainstreet, and lake within walking distance to Lakeshore Drive trails.

As of December 2021, properties for sale in Bonnyville were on the market for an average of 274 days and ranged in price as follows:

• The average list price for a condo was $201,000 with prices ranging from $134,900-$229,900,
• Vacant plots of land available for sale ranged from $89,900-$104,900, and
• For single-family homes, the average list price was $271,209 ranging from $65,900 to $574,900.

The Takeaway

With real estate trends in 2022 for St. Paul and Bonnyville, AB bound the evolve, you’ll want to pick the right team to help you navigate the details. 

Whether you’re looking to sell or buy in St Paul or Bonnyville, Alberta, in 2022, CENTURY 21 Poirier can make choosing the right sales tactic exciting and stress-free. With our decades of experience in real estate, we’ll guide you through the process and help you decipher the local real estate market. 

As community members who have worked, lived, and played in the areas we’re served for generations, we know St. Paul; we know Bonnyville. 

Let us help you decide whether it’s a good time to sell your home in 2022. 

Visit our resources page for more information about current real estate trends in Northeastern Alberta.  

Contact us if you have any questions about what you read—or if you’re ready to start planning your home sale in 2022. We’ll be happy to sell your house for you—and help you to find your next ‘home sweet home’.