Carvel, 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
In Carvel, Alberta, the real estate market is experiencing steady growth. The median house price is currently at $500,000, with a positive trend of 3.5% year-over-year growth. This indicates a healthy demand for single-family homes in the area. Meanwhile, the median apartment price stands at $300,000, experiencing a slightly lower growth rate of 2.1% year-over-year. The differential in growth rates suggests that houses are in higher demand compared to apartments, possibly due to buyer preferences for more space or family-oriented living accommodations.
The population of Carvel has reached 15,000 residents, with a robust growth rate of 7.1%. This population increase is likely contributing to the demand for housing and could be an indicator of a vibrant local economy attracting new residents.
Investment Opportunities and Potential
The steady rise in property values coupled with significant population growth presents attractive investment opportunities in Carvel’s real estate market. For investors looking to acquire assets with potential for appreciation, purchasing single-family homes might offer more substantial returns given the higher growth rate in median house prices.
Apartments offer an alternative investment route with a more modest growth projection but may appeal to those looking to cater to smaller households or professionals. Given the overall market conditions, rental properties could also be a lucrative venture as the growing population may include renters who are not yet ready or able to purchase property.
With the current trends, both long-term capital gains and rental yields should be considered when evaluating investment potential in Carvel’s real estate market.
Future Market Outlook
The future outlook for Carvel’s real estate market appears optimistic. Assuming the local economy continues to thrive and attract residents, demand for housing should sustain the upward trajectory in property values. The 3.5% year-over-year increase in house prices suggests that there is confidence in the market’s stability and potential for future growth.
Population growth will likely continue to be a driving factor for the real estate market in Carvel. As long as job opportunities and quality of life factors keep pace with population increases, the housing market should remain robust. Prospective investors and homeowners alike can look at these positive indicators as signs of a healthy market conducive to real estate ventures.
However, it is crucial to monitor economic factors such as employment rates, interest rates, and regional development plans which may impact future market conditions. Staying informed on these fronts will help stakeholders make educated decisions and adapt strategies accordingly.
