Ardrossan, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Ardrossan, Alberta, is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This indicates a consistent upward trend in property values, suggesting stable demand and consumer confidence in the area’s housing market.
In contrast, the apartment sector shows a moderate increase with a median price tag of $300,000, reflecting a smaller yet positive year-over-year growth of 2.1%. The slower rate of appreciation for apartments may be attributed to a market that favors detached homes or could signal a higher potential for investment returns in multi-family units as they catch up to the overall market’s growth rate.
The population of Ardrossan stands at approximately 15,000 residents with an impressive growth rate of 7.1%. This demographic expansion is likely fueling housing demand and can be seen as a contributing factor to the steady rise in property prices.
2. Investment Opportunities and Potential
The promising population growth coupled with consistent property value increases points towards significant investment opportunities within Ardrossan’s real estate market. For investors looking at long-term equity growth, single-family homes present an attractive proposition due to their higher appreciation rate.
Apartments offer a potential entry point for investors seeking more affordable options with ample room for value appreciation and rental income prospects. Given the population surge and the slower pace of apartment price increases compared to houses, there is potential for rental demand to rise, which could lead to higher yields on investment properties over time.
3. Future Market Outlook
Looking ahead, the future market outlook for Ardrossan remains optimistic. Considering the robust population growth and consistent increases in property values, it is reasonable to expect that these trends will continue into the near future barring any unforeseen economic disruptions.
The sustained interest in both residential sectors indicates a healthy and dynamic market environment. As such, we anticipate that both median house and apartment prices will maintain their upward trajectory, making Ardrossan an appealing locale for homebuyers and investors alike.
In conclusion, Ardrossan’s real estate market offers promising conditions for both owner-occupants and investors. The key indicators suggest continued growth and stability, reinforcing the town’s position as an attractive option within Alberta’s property landscape.
