Cardiff, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 2.9% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
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 | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $335,000 |
3 bedrooms | $440,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,800 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cardiff, Alberta is currently experiencing modest growth. With a median house price of $485,000, the year-over-year increase has been calculated at 2.9%. This reflects a steady, albeit not rapid, appreciation in property values within the region.
Similarly, the market for apartments is also on the rise, with a median price of $295,000 and an annual growth trend of 1.8%. This slower growth rate compared to houses indicates that the demand for single-family homes may be outpacing that for apartments.
The population of Cardiff stands at approximately 15,500 residents and has seen a healthy increase of 3.3%. This demographic expansion suggests sustained demand for housing, which may continue to underpin the real estate market in the area.
Investment Opportunities and Potential
The consistent growth in property values coupled with a burgeoning population suggests that Cardiff holds viable investment opportunities. The steady increase in median house prices points towards a stable environment for real estate investors looking for long-term capital gains.
Apartments offer a lower entry point into the market at $295,000 and may appeal to investors targeting rental income given the ongoing population growth. Yet, investors should note the slower appreciation rate for apartments when considering their portfolio strategy.
The current trends indicate that there is potential in both residential real estate for owner-occupiers and rental properties as investment vehicles. Given the population’s upward trajectory, demand for housing is likely to remain robust, potentially leading to tighter inventory levels and upward pressure on prices over time.
Future Market Outlook
The future outlook for Cardiff’s real estate market appears positive. The combination of steady price increases and ongoing population growth suggests that demand will continue to support the current trends seen in the housing market.
If these demographic and economic trends persist, investors and homeowners can expect further gradual appreciation in property values. However, potential investors should monitor local economic drivers and interest rate changes closely as these factors could affect affordability and influence market dynamics.
In conclusion, Cardiff presents an attractive real estate landscape with solid fundamentals supporting both immediate investment opportunities and longer-term market resilience.