Cleardale, 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 Cleardale, Alberta, is currently experiencing steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This rate suggests a healthy demand for housing and a stable investment environment. The median apartment price stands at $300,000, with a slightly lower growth trend of 2.1% year-over-year. This difference in growth between houses and apartments may indicate a stronger preference for detached homes among buyers.
The population of Cleardale has reached 15,000 residents and continues to grow at an impressive rate of 7.1%. This significant population growth is likely contributing to the demand for housing and the overall upward pressure on property prices in the region.
Investment Opportunities and Potential
Given the robust population growth and consistent appreciation in property values, Cleardale presents promising investment opportunities. The steady rise in house prices reflects ongoing demand and suggests that investing in residential real estate could yield favorable returns.
Apartments offer a more accessible entry point for investors due to their lower median price point. While the appreciation rate for apartments is lower than that of houses, at 2.1% year-over-year, they still represent a viable option for those seeking to capitalize on rental income or long-term value appreciation.
As the town continues to expand, investors should also look out for new developments and infrastructure projects that could bolster property values further or open up new areas for investment.
Future Market Outlook
The future real estate market outlook for Cleardale looks optimistic. The current trends suggest continued growth in property values, supported by strong population increases. If the town maintains its current economic trajectory and the demand for housing persists, investors can reasonably expect ongoing appreciation in both house and apartment prices.
However, it is important to remain mindful of broader economic factors that could impact the market such as interest rates, employment levels, and regional economic development. Monitoring these factors will be crucial for those looking to invest or sell in the future.
In conclusion, Cleardale’s real estate market offers solid prospects for investors and homeowners alike. With thoughtful consideration of market trends and external economic conditions, stakeholders can make informed decisions within this active market landscape.
