Craigmyle, 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 (2025) | 15,000 |
| Previous Population (2020) | 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 Craigmyle, Alberta, currently presents a stable and growing environment. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the housing market is experiencing moderate but steady appreciation. This reflects a healthy demand for single-family homes in the area.
Apartments in Craigmyle also show a positive growth trend, with a median price of $300,000 and an appreciation rate of 2.1% year-over-year. The less pronounced growth rate compared to houses indicates a market that is more accessible to first-time homebuyers and investors seeking lower entry points into the real estate market.
The population of Craigmyle has reached 15,000 and shows a robust growth rate of 7.1%. This demographic expansion supports the ongoing demand for housing and suggests that the current trends are likely to continue as the local economy adapts to accommodate this influx.
Investment Opportunities and Potential
Investment opportunities within Craigmyle are promising due to several factors. The steady increase in property values indicates room for capital gains over time, while the strong population growth points to an enlarging tenant pool for income properties. Investors may find both short-term rental prospects and long-term property value appreciation appealing.
The disparity in growth rates between house and apartment prices suggests that apartments might offer higher yield potentials relative to their purchase price. Additionally, given the lower median price point for apartments, they could present an attractive entry-level investment or diversification option for those looking to capitalize on the lower end of the market.
Future Market Outlook
Looking forward, the real estate market in Craigmyle is poised for continued growth. The robust population increase will likely sustain housing demand across all sectors. If current economic conditions persist, property values are expected to continue their upward trajectory, albeit at a sustainable pace that mitigates the risk of a speculative bubble.
Infrastructure developments and community investments aligned with population growth could further enhance property values and attract new residents seeking quality of life improvements. Investors should monitor local government plans that could impact future property desirability.
However, it’s important for stakeholders to keep an eye on external economic factors such as interest rates, employment levels, and regional economic performance that could influence buyer affordability and thus impact real estate dynamics in Craigmyle.
