Cheadle, 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 Cheadle, Alberta, is currently experiencing a period of steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This indicates a healthy demand for housing in the area, with prices growing at a sustainable rate. Similarly, the market for apartments is also showing an upward trend, with the median apartment price at $300,000 and an annual growth rate of 2.1%. These trends suggest that the real estate market in Cheadle is robust and has remained resilient in the face of broader economic fluctuations.
Investment Opportunities and Potential
Cheadle’s real estate market presents promising opportunities for investors. The consistent growth in house and apartment prices points to a strong potential for capital appreciation. Considering the 7.1% population growth, there is likely to be sustained demand for housing, which could continue to drive property values upward. Investors should consider both residential properties for long-term growth and rental properties given the expanding local populace. Furthermore, with a relatively moderate entry point for housing prices compared to larger urban centers, Cheadle represents an accessible market for both first-time and seasoned investors.
Future Market Outlook
The future market outlook for Cheadle, Alberta is optimistic. Given the solid population growth rate of 7.1%, it can be inferred that the area is attracting new residents, likely due to employment opportunities or other attractive living conditions such as quality of life or affordability compared to nearby regions. Should these trends continue, demand for housing is expected to remain strong which would result in sustained or potentially increased growth in property values over time.
However, it’s important for potential investors and homebuyers to consider wider economic factors that might influence mortgage rates, construction costs, and overall affordability in the future. Staying informed on local development plans and infrastructure projects will also be critical for assessing long-term property value prospects in Cheadle.
