March 2024 Real Estate Insights for Duggan, Edmonton

The March 2024 real estate statistics for Duggan, Edmonton, showcase a varied market with considerable potential for both buyers and sellers. With an overall 75% listing absorption rate for Total Residential properties, Duggan is leaning towards a seller's market, indicating a high demand for homes in the area. Sellers are finding that their properties are being absorbed rapidly, suggesting an optimal time for listing and selling. Buyers, however, must be prepared to act quickly and decisively in this competitive environment.

Detached homes in Duggan are in a more balanced state with a 25% absorption rate. This segment presents a slower pace, providing an opportunity for buyers to negotiate and consider their options carefully. Sellers of detached homes may need to be more strategic in their pricing and marketing to stand out in the market.

The standout in Duggan's real estate market is the Apartment Condominium sector, which has hit a full 100% absorption rate. This is an ideal scenario for sellers, who can expect a strong interest in their properties. Buyers eyeing condominiums in Duggan will need to be prepared for stiff competition and may benefit from having their financing pre-approved to make quick offers.

Benchmark prices in Duggan indicate a fluctuating market. Total Residential homes are priced at an average of $277,000, showing a substantial month-to-month decrease of 36.41% and a year-to-year decrease of 29.2%. This could indicate a recent market correction, presenting a more favorable scenario for buyers. Detached homes are valued at $413,500, with a slight monthly decrease, yet maintaining a yearly growth of 9.24%. Apartment Condominiums are set at $208,750, although there are no available statistics for monthly or yearly changes.

The market activity, as reflected by the number of active and sold listings, paints a picture of steady sales for both Total Residential and Detached homes, with each seeing more sales than active listings. This corroborates the sellers' market trend in Duggan, particularly for condominiums, which have twice as many sold listings as active ones.

The Average Days on Market (ADOM) further emphasizes the brisk pace of the Duggan market. Total Residential properties are selling in just 8 days on average, indicating an exceptionally fast-moving segment. Detached homes are taking slightly longer at an average of 8 days, while Apartment Condominiums, matching the high absorption rate, are also selling quickly at an average of 12 days.

Call to Action: If you're considering entering the fast-paced Duggan real estate market, whether to buy your dream home or to sell your property, connecting with an expert is crucial. The Gurpreet Ghatehora Royal LePage Magna team, with a proud history of service since 2007 and recognition as a Top 100 Agent in Canada, provides the expertise you need to navigate this vibrant market. Contact us at 780-951-6530 or visit Edmontonhomesonsale.com for personalized, expert guidance. Your journey to buying or selling in Duggan starts with us.

#DugganRealEstate #March2024EdmontonHomes #DugganProperties #YEGRealEstateMarket #EdmontonHousingTrends #RoyalLePageMagna #YEGPropertySales #GurpreetGhatehoraTopAgent #EdmontonHomeBuys #DugganCondoSales #FastMarketYEG #EdmontonLiving #RealEstateExpertYEG #HomeSellingYEG #InvestInDuggan #EdmontonRealtor #YEGHomeTrends #DugganMarketInsights #YEGHomeSales #DugganHomeSearch