Camrose, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.6% |
| Quarterly trend | 1.8% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,500 |
| Occupied Private Dwellings | 6,000 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Camrose, Alberta, has exhibited moderate growth over the past year. The median house price in the area is currently $485,000, which represents a 2.8% increase year-over-year. This growth rate suggests a steady demand for housing in the city. Meanwhile, the median apartment price has reached $295,000, with a slightly lower growth rate of 1.8% year-over-year. Such figures indicate a balanced market where both houses and apartments are experiencing positive appreciation but at a sustainable pace.
The population of Camrose stands at approximately 15,000 residents, with a notable growth rate of 3.4%. This demographic expansion is likely contributing to the consistent demand for housing and can be seen as a positive indicator for the stability of the local real estate market.
Investment Opportunities and Potential
Camrose’s real estate market offers various investment opportunities, particularly considering its population growth and economic stability. The consistent rise in property values provides investors with the potential for capital gains over time. Single-family homes, with their higher year-over-year increase, may offer better long-term growth potential compared to apartments.
Furthermore, Camrose’s demographic trends suggest an increasing demand for rental properties. Investors could leverage this by purchasing rental properties or developing multi-unit residential buildings to cater to this growing segment. Given that the price appreciation rates are moderate, there remains room for future growth without immediate concerns of an overheated market.
Future Market Outlook
The future of Camrose’s real estate market appears promising based on current trends and data. The sustained population increase at 3.4% is likely to continue driving demand for housing in both purchase and rental markets. If these demographic trends persist alongside economic stability in the region, it’s reasonable to anticipate continued moderate property value appreciation.
However, potential investors and homeowners should keep an eye on broader economic factors such as interest rates, employment rates, and regional economic development initiatives that may impact property values. In light of current statistics and patterns, Camrose presents itself as a stable investment environment with room for measured yet optimistic expectations for continued growth.
