Condor, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Condor, Alberta, the real estate market is currently experiencing a period of steady growth. The median house price stands at $485,000, which marks a 3.2% year-over-year increase. This suggests that the housing market in Condor has been resilient and is continuing to grow at a moderate pace. Similarly, the median apartment price has reached $295,000, with a slightly lower year-over-year increase of 2.5%.
The population of Condor has shown significant growth at a rate of 3.3%, indicating an increasing demand for housing in the area. This demographic trend is likely contributing to the steady appreciation in property values and can signal a robust market for both sellers and buyers.
Investment Opportunities and Potential
The consistent rise in property values suggests that Condor offers promising investment opportunities for real estate investors. With house and apartment prices showing upward trends, investing in residential properties could yield profitable returns through both rental income and capital appreciation over time.
Investors should note that the stronger growth in house prices compared to apartments may point to a higher demand for single-family homes or possibly more significant investment potential in this segment of the market. However, apartments offer a lower entry point for investment and may appeal to first-time investors or those looking for more affordable options.
Future Market Outlook
The future real estate market outlook for Condor appears optimistic based on current trends and population growth. If the locality maintains its population growth rate of 3.3%, demand for housing is likely to remain robust, supporting further property value increases.
However, prospective investors and homeowners should keep an eye on broader economic conditions, interest rates, and regional development plans that could impact future market dynamics. Given the stable year-over-year price increases and healthy population growth figures, Condor’s real estate market is poised to remain an attractive area for both living and investing in the foreseeable future.
