Question 1

What is the median sold price in Island Lake?

Accepted Answer

The median sold price in Island Lake is $575,000 based on 5 home sales over the past 2 years. The median represents the middle price point where half of homes sold for more and half sold for less, making it a reliable indicator of typical home values in the area.

Question 2

What is the average home price in Island Lake?

Accepted Answer

The average sold price in Island Lake is $574,400. Note that the average ($574,400) is lower than the median ($575,000), which suggests the market has a fairly even distribution of home prices.

Question 3

What is the price range for homes in Island Lake?

Accepted Answer

Home prices in Island Lake range from $355,000 to $740,000 based on recent sales data. This $385,000 spread reflects the variety of property types and sizes available, from starter homes to luxury properties.

Question 4

Are homes in Island Lake selling above or below asking price?

Accepted Answer

On average, homes in Island Lake are selling at 97.5% of their asking price. This means there is some room for negotiation, with homes selling slightly below asking. Buyers may have room to negotiate on price.

Question 5

How long do homes take to sell in Island Lake?

Accepted Answer

Homes in Island Lake are selling in an average of 54 days. This indicates a balanced market with moderate competition. Buyers have reasonable time to make decisions without feeling rushed.

Question 6

What is the price per square foot in Island Lake?

Accepted Answer

The average price per square foot in Island Lake is $557. This metric helps you compare homes of different sizes on an equal basis. For example, a 2,000 sq ft home at this rate would cost approximately $1,114,000.

Question 7

How active is the real estate market in Island Lake?

Accepted Answer

The Island Lake market has seen 5 home sales over the past 2 years, with 4 properties currently for sale. With ample inventory available, buyers have plenty of options to choose from.

Question 8

Are home prices rising or falling in Island Lake?

Accepted Answer

Home prices in Island Lake have decreased by 32.2% over the past 2 years. The average sold price moved from $523,500 to $355,000. This downward trend may present buying opportunities for purchasers.

Question 9

Is Island Lake a buyer's or seller's market?

Accepted Answer

Based on current data, Island Lake is a balanced market. Homes are selling in 54 days on average and at 97.5% of asking price. Both buyers and sellers have reasonable negotiating positions in current conditions.

Question 10

What percentage of homes sell above asking price in Island Lake?

Accepted Answer

In Island Lake, 20% of homes sold above asking price, while 80% sold below asking. A moderate number of homes attract multiple offers.

Question 11

What size homes are selling in Island Lake?

Accepted Answer

Homes selling in Island Lake range from 753 to 1,636 square feet. This variety means you can find everything from compact condos and starter homes to spacious family residences and luxury properties.

Question 12

How much do home prices vary in Island Lake?

Accepted Answer

Island Lake shows relatively consistent pricing with a standard deviation of $148,497 around the average price of $574,400. Prices are fairly consistent, making it easier to predict what you'll pay for a home in this area.

Question 13

How do I find out how much a house sold for in Island Lake?

Accepted Answer

Simply search our Island Lake sold archive. We index recently sold homes specifically by neighbourhood so you can compare apples-to-apples. If you see a "Sold" sign up the street, our MLS® sold listings data will tell you the exact closing price.

Question 14

Are sold prices different from the list price?

Accepted Answer

Often, yes. In competitive markets, house sale prices can be higher than the list price, while in slower markets, they may be lower. Viewing recently sold homes in Island Lake will show you the "Sale-to-List Ratio," helping you understand the negotiation gap.

Question 15

Do you show all MLS® sold listings for Island Lake?

Accepted Answer

Our feed captures all MLS® listings sold page data available for Island Lake. This includes detached homes, condos, and duplexes, ensuring you don't miss any sold real estate listings relevant to your search.

Island Lake Homes Sold in the Last 30 Days

Island Lake Sold Data Overview

Recently Sold in Island Lake

Sold Data & Market Statistics for Island Lake

All Property Types

2-Year Market Trends: All Property Types

Negotiation & Cost Insights

How does Island Lake compare to Rural Athabasca County?

More neighbourhoods in Rural Athabasca County

Frequently Asked Questions

Sign up to see what homes actually sold for