Caroline, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.0% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.8% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $425,000 |
3 bedrooms | $485,000 |
4 bedrooms | $575,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,600 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
In Caroline, Alberta, the real estate market is experiencing a period of moderate growth. The median house price currently sits at $485,000, with a year-over-year increase of 3%. This steady rise in prices reflects a healthy demand for single-family homes in the area. Similarly, the median apartment price has reached $295,000, showing a slightly lower year-over-year growth rate of 1.8%. The housing market’s performance can be attributed to the town’s robust population growth of 3.4%, which surpasses national averages and signals ongoing consumer confidence and demand for housing.
2. Investment Opportunities and Potential
The investment opportunities in Caroline are promising due to the town’s growing population, now standing at approximately 15,000 residents. The consistent increase in property values suggests a stable market with potential for long-term capital gain. Investors looking at residential properties could benefit from the steady appreciation of house and apartment prices. Rental properties may also be an attractive option considering the population growth, as newcomers will need accommodation, potentially driving up rental demand and yields.
3. Future Market Outlook
The future outlook for Caroline’s real estate market remains optimistic. The sustained population growth is likely to continue fueling demand for both ownership and rental properties. Barring any unforeseen economic shifts or policy changes that might affect Alberta’s broader market dynamics, Caroline’s real estate is poised for continued growth. The current trends suggest that property values will keep rising moderately, making it an opportune time for both homebuyers and investors to consider entering the market or expanding their portfolio within the region.