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 (2024) | 15,000 |
| Previous Population (2019) | 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 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. This trend suggests a stable demand for housing in the area. The median apartment price stands at $300,000, which has seen a slightly lower growth rate of 2.1% over the same period.
The population of Cayley has grown to 15,000 residents, reflecting a substantial growth rate of 7.1%. This influx of new residents is likely contributing to the demand for housing and the consequent rise in property prices. The consistent growth indicates that the market is robust, with both residential properties and apartments appreciating at a sustainable pace.
Investment Opportunities and Potential
Considering the steady increase in property values and the significant population growth, Cayley offers promising opportunities for real estate investors. The consistent appreciation of house and apartment prices points to a potential for solid returns on investment over time.
Investors looking to enter the market could benefit from focusing on areas within Cayley that are experiencing higher demand, possibly due to proximity to amenities or employment opportunities. Additionally, with the population expected to continue its upward trend, there may be opportunities in new housing developments or in catering to the rental market which could expand as more people move into the area.
Future Market Outlook
The future outlook for Cayley’s real estate market remains positive. Given the current trends and population growth rates, it is reasonable to forecast continued demand for housing in both purchase and rental sectors. However, potential investors should keep an eye on economic factors that could affect market conditions such as interest rates, employment rates within Alberta, and broader economic trends.
If current conditions hold, Cayley’s real estate market is poised for ongoing growth. Nevertheless, investors should conduct thorough due diligence and consider long-term economic forecasts when making investment decisions.
