Cereal, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,100 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,050 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Cereal, Alberta is currently experiencing steady growth. With a median house price of $495,000, the market has seen a year-over-year increase of 3.2%. The median apartment price stands at $295,000, reflecting a more moderate growth rate of 2% over the same period. This suggests a stable environment for real estate with single-family homes appreciating at a faster rate than apartments.
The population of Cereal has grown by 4.8%, signaling strong demographic support for housing demand. This influx is likely contributing to the upward pressure on housing prices as more individuals and families seek accommodation in the area.
2. Investment Opportunities and Potential
In light of the consistent growth in property values, Cereal presents numerous investment opportunities. The steady increase in median house prices indicates room for capital gains for long-term investors. Furthermore, the population growth surpasses national averages, which may lead to sustained demand for housing and potential rental income stability or growth for investors focusing on income properties.
Investors might also consider diversifying their portfolios with apartment units due to their lower entry price point and solid year-over-year appreciation. Given the current trends, properties aimed at accommodating the growing population—such as multi-family dwellings or developments geared towards new residents—could offer significant potential.
3. Future Market Outlook
The future outlook for Cereal’s real estate market remains optimistic. Given the robust population growth and consistent property value appreciation, it is reasonable to expect that these trends will continue in the near to medium term. The ongoing demand for housing should support both resale values and rental market strength.
However, investors are advised to monitor economic factors that could influence migration patterns and employment rates, as these can affect housing demand. Additionally, keeping an eye on interest rates and lending policies will be crucial since they directly impact buyers’ purchasing power.
Overall, Cereal offers a promising environment for real estate investment with potential for both capital appreciation and solid rental yields, assuming current trends persist.
