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Cremona, Alberta Real Estate Market Data

Updated: Nov 2024

House

Median price $485,000
Monthly growth 1.1%
Quarterly trend 4.2%
Stock on market 0.7%

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 $330,000
3 bedrooms $425,000

Demographics

Current Population (2025) 15,200
Previous Population (2020) 15,000
Population Change 1.3%
Total Private Dwellings 6,200
Occupied Private Dwellings 5,700
Population Density (per km²) 1.6
Land Area (km²) 2,500.5

Market Analysis





Cremona, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

The current real estate market in Cremona, Alberta, is experiencing steady growth. The median house price in the area is currently at $485,000, marking a year-over-year increase of 4.2%. This indicates a healthy upswing and consumer confidence in the market. Similarly, the median apartment price stands at $295,000, with a more modest yet positive trend of 2.5% year-over-year growth. These statistics suggest that both segments of the housing market are appreciating, albeit at different rates.

The population of Cremona has reached approximately 15,200 residents, with a growth rate of 1.33%. This gradual increase in population is likely contributing to the demand for housing and supporting the current positive trends observed within the real estate market.

Investment Opportunities and Potential

The upward movement in housing prices indicates that Cremona’s real estate market holds promising investment opportunities. For investors looking to capitalize on the current momentum, single-family homes offer stronger appreciation potential given their higher year-over-year price trend. The median house price suggests that the market is accessible to both first-time buyers and investors seeking properties with moderate investment capital.

Apartments present an alternative investment opportunity with slightly lower capital requirements and a positive appreciation trend. Investors may also consider rental properties given Cremona’s growing population and demand for housing. As always, potential investors should conduct thorough due diligence and consult local real estate professionals when considering property investments in this region.

Future Market Outlook

The future outlook for Cremona’s real estate market is cautiously optimistic. Assuming the continuation of current economic conditions and population trends, we can anticipate further growth in property values, albeit potentially at varying rates between house and apartment segments.

The steady population growth suggests a consistent demand for housing which should underpin the market. However, it is essential to monitor external economic factors such as interest rates, employment rates, and provincial economic policies that could influence buyer sentiment and affordability.

In conclusion, while current trends provide a positive snapshot of Cremona’s real estate market, investors must remain vigilant to changes within local and national economic landscapes that could impact future growth trajectories.