Cardiff, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $488,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $488,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
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 in Cardiff, Alberta
In Cardiff, Alberta, the real estate market has demonstrated steady growth. With a median house price of $488,000 and an annual appreciation trend of 2.8%, the housing sector shows resilience amidst economic variables. Similarly, apartments are following an upward trajectory with a median price of $295,000, witnessing a 1.9% year-over-year increase. Such trends suggest a healthy demand for residential properties in the area.
The population of Cardiff stands at 15,500 with a significant growth rate of 3.33% year-over-year, which is indicative of the region’s attractiveness and potential for further expansion in the housing market. This demographic shift likely contributes to the sustained property value increases as demand continues to rise in tandem with population growth.
Investment Opportunities and Potential in Cardiff Real Estate
The continual population influx and stable price appreciation signal strong investment opportunities within Cardiff’s real estate market. Investors can expect favorable returns on investment from both residential homes and apartment units given the current market dynamics. The steady gain in property values also suggests that investing in real estate here could be a hedge against inflation for long-term investors.
Moreover, as the local economy adapts and grows to accommodate new residents, ancillary investment opportunities may arise in commercial real estate such as retail spaces, office buildings, and industrial complexes that serve the growing population’s needs.
Future Market Outlook for Cardiff Real Estate
Looking ahead, the future market outlook for Cardiff’s real estate appears optimistic. The consistent rise in population is likely to sustain demand for housing, supporting further growth in property values. Assuming no major economic disruptions occur, investors and homeowners alike can anticipate continued moderate price appreciation in line with recent trends.
Given the current data and assuming consistent economic conditions, both median house prices and apartment prices are expected to maintain their upward movement. However, potential investors should monitor local economic indicators such as employment rates, infrastructure developments, and interest rates as these factors could influence future market conditions significantly.
In conclusion, Cardiff presents a compelling case for real estate investment based on current market conditions and projected growth trends. Stakeholders should keep abreast of regional developments to capitalize on emerging opportunities and navigate potential risks effectively.
