Cereal, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.3% |
Quarterly trend | 4.0% |
Stock on market | 0.8% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $245,000 |
2 bedrooms | $340,000 |
3 bedrooms | $430,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,100 |
Occupied Private Dwellings | 5,600 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cereal, Alberta is showing a continued growth trend with the median house price currently standing at $485,000, which reflects a year-over-year increase of 4%. Similarly, the apartment sector is also experiencing growth, though at a slightly lower rate of 2.5% year-over-year, bringing the median apartment price to $295,000. This progressive rise in property values indicates a healthy demand in the housing market.
The population of Cereal has reached approximately 15,500 residents with a robust growth rate of 3.3%. This demographic expansion is likely contributing to the increased demand for housing and can be seen as a positive indicator for the sustainability of current market trends.
Investment Opportunities and Potential
The consistent rise in property values coupled with substantial population growth suggests that Cereal presents valuable investment opportunities. Houses are appreciating at a stable rate, providing potential for capital gains over time. The slower yet steady increase in apartment prices may appeal to investors looking for more affordable entry points into the real estate market.
Given the ongoing population growth, rental demand is expected to remain strong. This presents an opportunity for investors to acquire rental properties that could yield attractive returns through rental income and property value appreciation.
Future Market Outlook
Looking forward, the real estate market in Cereal appears poised for continued growth. The sustained increase in population is likely to maintain pressure on housing supply, potentially leading to further increases in property values. If current trends persist, both residential houses and apartments are expected to see incremental price rises.
Investors should monitor local economic developments, infrastructure projects, and any changes in regional employment rates as these factors can significantly impact future market conditions. Nonetheless, given the data at hand, Cereal’s real estate market outlook remains positive with promising opportunities for both homebuyers and investors.