Cardston, 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 (2024) | 15,000 |
| Previous Population (2019) | 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
Current Market Conditions and Trends
In Cardston, Alberta, the real estate market is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market shows moderate but consistent appreciation in property values. Similarly, the median apartment price stands at $300,000 with a growth trend of 2.1% over the past year. These trends suggest a healthy and stable market that is not prone to volatile swings.
The population of Cardston has reached approximately 15,000 residents, reflecting a significant growth rate of 7.1%. This demographic expansion contributes to an increased demand for housing, both for purchase and rent, which in turn supports the upward trend in property prices.
Investment Opportunities and Potential
The investment opportunities within Cardston’s real estate market are promising given its steady growth rate and population influx. For investors looking at long-term capital gains, single-family homes present a valuable option due to their higher appreciation rate of 3.5% compared to apartments.
On the other hand, the apartment sector still offers a worthwhile investment with a 2.1% price increase year-over-year. Investors seeking rental income may find apartments particularly appealing as they cater to individuals or smaller families that are part of the growing population but might not be ready for home ownership.
Additionally, with continuous population growth, there is potential for new development projects and infrastructure expansion which could create further investment opportunities in both residential and commercial real estate sectors.
Future Market Outlook
Looking ahead, the future market outlook for Cardston is optimistic. The current trends suggest a continuation of gradual price increases in line with or slightly above inflation rates. The robust population growth indicates sustained demand for housing which should maintain upward pressure on property values.
However, it is important for investors to monitor economic indicators such as employment rates, income levels, and broader economic conditions both provincially and nationally as they can have an impact on local real estate markets.
Moreover, given global uncertainties including fluctuating interest rates and potential changes in government housing policies, it would be prudent for stakeholders to remain informed and adaptable to shifts in market dynamics.
