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 steady growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. This growth rate indicates a stable market that is attracting homebuyers and investors alike. The demand for housing is further supported by a robust population growth of 7.1%, which is significantly higher than the national average.
Similarly, the apartment sector is also showing positive trends with a median price of $300,000 and a growth rate of 2.1% year-over-year. This suggests that smaller investment properties are also appreciating, albeit at a slower pace compared to houses.
The balanced increase in both housing types points towards a diversified demand from different market segments such as families looking for more space in houses and professionals or smaller households preferring apartments.
Investment Opportunities and Potential
Cheadle’s real estate market presents several promising investment opportunities. Given the sustained increase in property values, long-term capital gains are likely for those investing in residential properties. The consistent rise in median house prices implies that single-family homes could be particularly lucrative investments.
Apartments offer a lower entry point for investors at the median price of $300,000, coupled with steady growth rates. They may appeal to investors seeking rental income, especially as the population continues to grow and housing demand increases.
The significant population growth not only fuels demand for housing but may also lead to an expansion of rental markets as new residents seek temporary accommodation before purchasing homes. Investors might explore possibilities in developing new rental units or renovating existing properties to cater to this demographic.
Future Market Outlook
The future outlook for Cheadle’s real estate market remains optimistic. Population growth is one of the strongest indicators of potential continued demand in real estate markets. With Cheadle experiencing a high population growth rate, it is expected that the demand for housing will persist, potentially leading to further property value appreciation.
The stable year-over-year price increases suggest that the market is less likely to experience sudden fluctuations, making it an attractive option for both homeowners and investors who prefer stability and predictable growth patterns over speculative investments.
As the local economy adapts to accommodate the growing population through infrastructure development and job creation, we can reasonably expect that Cheadle’s real estate market will continue on its upward trajectory in terms of both property values and investment potential.
