Cremona, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Cremona, Alberta, is showing sustained growth, with a year-over-year increase in housing prices. The median house price currently stands at $485,000, which represents a 4% increase over the previous year. In contrast, the median apartment price has reached $295,000, following a slightly more moderate year-over-year growth of 2.5%.
This steady appreciation in property values is occurring alongside a stable population growth rate of 2%. With a current population of 15,300, Cremona’s real estate market benefits from an increasing demand that supports the ongoing upward trend in property prices.
2. Investment Opportunities and Potential
Investors considering the Cremona real estate market can find opportunities in both the residential housing and apartment sectors. The consistent rise in median house and apartment prices suggests a healthy demand for properties, potentially yielding solid returns on investment through both capital appreciation and rental income.
The more significant price increase in houses compared to apartments may indicate a stronger market for family homes or properties with more space, which could provide investors with guidance on where to focus their investments. However, the steady growth of apartment values also highlights potential in the multi-family dwelling segment, particularly attractive for those looking at more affordable investment options or aiming to cater to individuals and smaller households.
3. Future Market Outlook
The future outlook for Cremona’s real estate market appears optimistic. Assuming that current trends persist, property values are likely to continue their upward trajectory. The consistent population growth serves as a fundamental driver for housing demand and suggests that the market will remain robust.
Investors should monitor economic indicators such as employment rates, income levels, and regional development projects that could impact the real estate market’s performance. Should these factors remain favorable or improve, Cremona’s real estate market could experience sustained or even enhanced growth.
In conclusion, Cremona presents itself as an attractive option for real estate investment with its healthy market conditions and positive growth outlook. Prudent investors will continue to watch demographic and economic trends closely while exploring opportunities within this active Alberta community.
