Colinton, 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 Colinton, Alberta is currently experiencing steady growth. The median house price in the area is $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, likely driven by both local factors and broader provincial economic conditions. Similarly, the median apartment price has reached $300,000, showing a more modest but consistent growth rate of 2.1% year-over-year.
The population of Colinton has been growing at a rate of 7.1%, indicating an influx of new residents and potential homebuyers. This growth can be attributed to various factors including the town’s economic opportunities, quality of life, and its appeal to individuals looking for residential stability outside larger urban centers.
Investment Opportunities and Potential
Investors considering the Colinton real estate market have reasons to be optimistic. The sustained increase in property values reflects a market that has not yet reached saturation and may still offer room for capital appreciation. Single-family homes are particularly attractive given their higher growth rate compared to apartments.
Moreover, with the town’s increasing population, there is likely to be continued demand for housing which could encourage new development projects. Rental properties could also benefit from the population rise as newcomers seek temporary housing options before purchasing their own homes.
The positive trends suggest that investments made at current prices may yield favorable returns as the market continues to mature. However, investors should perform due diligence and consider long-term trends and economic indicators specific to Colinton and Alberta more broadly.
Future Market Outlook
The future outlook for Colinton’s real estate market remains promising based on current trends and demographic shifts. Continued population growth will likely fuel demand for housing across both purchase and rental markets. If economic conditions remain favorable and the local job market stays strong, this demand may lead to further price increases.
The current upward trend in house prices suggests investor confidence and a robust competitive market environment. However, external factors such as changes in interest rates, government housing policies, or broader economic shifts could influence future growth rates.
In conclusion, while past performance is indicative of a strong market, investors should stay informed on both local developments and broader economic indicators to make well-informed decisions.
