Conrich, 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 Conrich, Alberta is currently experiencing stable growth. With a median house price of $500,000 reflecting a year-over-year increase of 3.5%, there is a consistent upward trend in property values. The market for apartments is also showing positive momentum, with the median apartment price standing at $300,000, marking a 2.1% annual increment. This growth can be partly attributed to Conrich’s expanding population, which has recently seen a significant surge of 7.1%. This influx suggests an increasing demand for housing, which may continue to drive prices upward.
Investment Opportunities and Potential
The robust population growth coupled with the steady rise in property values indicates that Conrich holds appealing opportunities for real estate investment. The consistent appreciation in house and apartment prices points towards a healthy market where investments could yield substantial returns over time. Given the current trends, investing in residential properties, particularly single-family homes and apartments, could be particularly promising as these segments are showing solid gains. Investors should also consider the potential for rental properties, as the increasing population may lead to higher demand for rental accommodations.
Future Market Outlook
Looking ahead, the real estate market in Conrich appears poised for continued growth. The sustained population increase is likely to maintain its role as a key driver for housing demand. Assuming economic conditions remain favorable and the local job market stays robust, we can expect further progression along the current trajectory of property value appreciation. Nonetheless, potential investors and homeowners should remain mindful of broader economic factors such as interest rates and national housing policies that could impact future market conditions. Monitoring these variables will be crucial for accurate forecasting and strategic decision-making.
