Calahoo, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $310,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Calahoo, Alberta, is currently characterized by steady growth. With a median house price of $490,000 and an annual increase of 3.2%, the market shows moderate but consistent appreciation. Similarly, the median apartment price stands at $310,000 and has seen a year-over-year trend of a 2.5% increase. This data indicates a stable upward trajectory in property values across the board.
The population of Calahoo is currently 15,500 and is growing at a healthy rate of 3.3%. This growth suggests an increasing demand for housing which may further impact real estate prices in the future. The sustained population increase can be seen as a contributing factor to the current market conditions, where demand remains robust and inventory levels are presumably closely managed.
Investment Opportunities and Potential
Given the steady climb in property values and the positive population growth rate, Calahoo presents attractive investment opportunities for both residential and rental properties. The ongoing appreciation suggests that purchasing real estate in this market could potentially yield profitable long-term gains for investors. Moreover, with population growth outpacing national averages, there could be a heightened demand for rental properties, which could benefit landlords and real estate investors looking for regular income streams.
Investors might also consider exploring new developments or off-plan properties as a strategy to capitalize on future price increases. Since there’s an evident rise in demand due to population growth, investing in such projects could offer considerable returns once completed.
Future Market Outlook
The future outlook of Calahoo’s real estate market appears promising given the current trends and statistics. The consistent rise in median house and apartment prices indicates a market that is likely to maintain its momentum going forward. Coupled with the robust population growth rate, it’s reasonable to forecast that housing demand will continue to drive property values upward.
However, potential investors should also be aware of external economic factors such as interest rates, employment rates, and regional economic development initiatives which can affect overall market performance. As long as these indicators remain favorable or stable, the outlook for Calahoo’s real estate market remains positive.
In conclusion, careful monitoring of local and national economic trends along with strategic investment planning could enable investors to capitalize on the opportunities present within the Calahoo real estate market while mitigating potential risks associated with market fluctuations.
