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 (2025) | 15,000 |
| Previous Population (2020) | 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
The real estate market in Cardston, Alberta is currently experiencing steady growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation, indicating a stable investment environment for potential buyers. Similarly, the median apartment price stands at $300,000 with a trend reflecting a 2.1% growth year-over-year. This suggests that while apartments are gaining value, they are doing so at a slightly slower pace compared to houses.
Cardston’s population has reached 15,000 and is on an upward trajectory with a significant growth of 7.1%, signaling a growing demand for housing in the area. This population increase can be attributed to factors such as Cardston’s economic prospects, quality of life, and its appeal to both retirees and working professionals seeking a community outside of larger urban centers.
Investment Opportunities and Potential
The current trends in Cardston offer promising investment opportunities. The consistent rise in property values coupled with the population growth indicates that the demand for housing is expected to remain strong. Single-family homes represent a solid investment due to their higher appreciation rate compared to apartments.
However, the apartment sector should not be overlooked as it offers more affordable entry points into the real estate market, especially for first-time buyers or investors looking for rental properties. Investors may also explore opportunities in developing or renovating properties to cater to the increasing population’s housing needs.
Given Cardston’s growing population and limited housing supply, new residential developments could fulfill market demand and yield substantial returns for developers and investors alike. Commercial real estate also presents potential given the influx of residents requiring services and amenities.
Future Market Outlook
The future outlook for Cardston’s real estate market remains positive. The ongoing population growth is likely to sustain demand for housing, which could lead to further property value appreciation over time. As long as economic conditions remain favorable and the town continues to attract new residents, both the residential and commercial sectors should see continued growth.
However, it’s important for investors to keep an eye on interest rate trends, changes in employment rates, and other economic indicators that could impact buying power and investment viability. Overall, the outlook suggests that those entering the market now will likely see their investments grow in value over the coming years.
