Carvel, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 15,000 |
| Population Change | 1.3% |
| 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
In Carvel, Alberta, the real estate market is showing steady growth, which is reflective of the region’s economic stability. The median house price stands at $495,000, with a year-over-year increase of 3.2%. This suggests that houses in Carvel are gradually appreciating in value, indicating a seller’s market where demand is keeping pace with supply or possibly even exceeding it.
For apartments, the median price is slightly lower at $295,000, with a smaller yet consistent annual growth rate of 2.5%. The apartment market is also showing positive momentum, though it appears to be slightly less vigorous compared to the house market. This could be due to a variety of factors including demographic preferences, investment patterns, or the availability of new apartment stock.
The population in Carvel has been growing at a rate of 1.33%, currently standing at 15,200 residents. This steady increase in population is likely contributing to sustained demand for housing across both segments.
Investment Opportunities and Potential
The current growth rates present potential opportunities for real estate investors. With a year-over-year house price increase consistently above 3%, investing in residential properties in Carvel has the potential for capital appreciation. Given that this trend has persisted, it suggests a stable investment environment without the volatility found in some other markets.
Apartments offer a slightly different value proposition with their lower median price point and growth rate. Investors might find this segment attractive for rental income prospects, especially if targeted towards demographics that prefer lower maintenance living or more affordable housing options such as young professionals or smaller families.
The ongoing population growth supports both the rental and purchase markets. New residents contribute to demand for housing, which can help keep vacancy rates low and maintain upward pressure on both rental and sale prices.
Future Market Outlook
Looking ahead, Carvel’s real estate market shows signs of continued strength. Assuming similar economic conditions persist, one can expect further incremental growth in property values. The steady population increase should continue to support housing demand.
However, investors and buyers should monitor local economic developments and any changes in interest rates or government policies that could affect affordability and borrowing costs. A balanced approach considering both short-term gains and long-term sustainability will likely be prudent given global economic uncertainties.
In summary, Carvel presents itself as an attractive market for those looking to invest in real estate with its consistent growth patterns and positive demographic trends. Continued monitoring will be essential to capitalize on opportunities and navigate potential challenges effectively.
