Cayley, 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 Cayley, Alberta is experiencing a steady growth period as indicated by the current data. The median house price stands at $500,000 with a healthy year-over-year increase of 3.5%. This suggests a growing demand for residential properties and a robust real estate environment. Similarly, the median apartment price is listed at $300,000, having grown at a slightly more modest rate of 2.1% year-over-year. These trends reflect a balanced appreciation in property values that aligns with general economic growth and housing demand in the area.
Cayley’s population has reached 15,000 residents with a significant population growth rate of 7.1%. This demographic expansion is a driving force behind the real estate demand, influencing both rental and purchase markets. The inclination towards suburban areas and smaller communities like Cayley may be contributing to this trend as individuals and families seek more affordable living options outside of major urban centres.
Investment Opportunities and Potential
For investors considering Cayley’s real estate market, these conditions represent a favorable outlook. The steady increase in property values coupled with the significant population growth signifies potential for long-term capital gains on investments made today. Investors might focus on acquiring residential properties that can cater to the growing demand created by the increasing population.
In addition to traditional home purchases, the rental market may also present attractive investment opportunities given the population influx. With more people moving to Cayley, there will likely be an increased need for rental accommodations, which could drive up rental yields for property owners.
Considering the broader economic context and current trends within Cayley’s real estate sector, strategic investments in both residential homes and apartments are likely to benefit from continued value appreciation and rental demand.
Future Market Outlook
Looking forward to future prospects of Cayley’s real estate market, the indicators point towards sustained growth. The positive trend in property values is expected to continue given the ongoing population growth and its subsequent effect on housing demand. If current economic conditions persist—such as low interest rates and stable employment—Cayley’s market could maintain or potentially exceed its current pace of appreciation.
However, potential investors should also consider external factors such as shifts in provincial or national economic policies, changes in mortgage rates, and global economic events that can impact local markets. Maintaining vigilance on these factors will be key to understanding how they might influence future market conditions in Cayley.
In conclusion, with careful consideration of these statistics and trends, stakeholders can make informed decisions when participating in the Cayley real estate market. Whether for personal residency or investment purposes, this small but burgeoning community presents compelling opportunities within Alberta’s diverse property landscape.
