Cluny, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.7% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.4% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| 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 Cluny, Alberta is currently experiencing moderate growth. The median house price stands at $495,000, which marks a year-over-year increase of 3.7%. This trend suggests a healthy demand for single-family homes in the area, reflecting both local economic stability and a desirable living environment.
Similarly, the apartment sector shows a positive trend with the median apartment price at $295,000 and an annual growth rate of 2.4%. This slower pace compared to houses may indicate a more saturated market for apartments or a stronger preference among residents for detached homes.
The population of Cluny has grown to 15,200 residents, with an impressive growth rate of 4.8%. This robust population increase is likely contributing to the housing demand and supporting the real estate market’s upward trajectory.
2. Investment Opportunities and Potential
Considering the steady growth in housing prices and significant population expansion, Cluny presents attractive investment opportunities. The consistent appreciation in property values suggests a stable investment environment with potential for long-term capital gains. Investors would be wise to focus on areas where new housing developments are planned or where infrastructure improvements are underway.
The current trends also hint at a potential undersupply of apartments given the slower growth rate in prices compared to houses. Savvy investors might explore development projects or conversions that could cater to this segment of the market.
3. Future Market Outlook
The future real estate market outlook for Cluny remains positive based on current data. The sustained population growth will likely continue to fuel housing demand. Should economic conditions remain favorable and employment opportunities expand alongside residential developments, Cluny’s real estate market could maintain its upward momentum or even see an acceleration in growth rates.
Investors and homebuyers should monitor factors such as interest rates, local job market health, and national economic policies that could impact buyer affordability and influence market conditions in Cluny.
