Cressday, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $490,000 |
Monthly growth | 1.3% |
Quarterly trend | 4.0% |
Stock on market | 0.6% |
Apartment
Median price | $320,000 |
Monthly growth | 1.1% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $490,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,800 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cressday, Alberta is currently experiencing steady growth. With a median house price of $490,000, the market has seen a year-over-year increase of 4%. This indicates a healthy upward trend in property values for homeowners and investors alike. Similarly, the median apartment price stands at $320,000, with a slightly lower growth rate of 2.5% over the same period.
Population growth in Cressday is another significant factor to consider; at 3.3%, it is well above the national average. This demographic expansion suggests an increasing demand for housing which could further drive up property values and rental market activity. Moreover, this growth contributes to sustained economic development and vibrancy in the local community.
Investment Opportunities and Potential
The positive trends in the Cressday real estate market present lucrative opportunities for investors. The consistent appreciation of house and apartment values provides a compelling case for long-term capital gains. For those looking to enter the rental market, population growth implies a larger pool of potential tenants and the likelihood of low vacancy rates.
Given the current trajectory of the housing market, investments in both residential and apartment properties are poised to benefit from the town’s increasing desirability and economic fortitude. Investors may also find potential in new construction projects or renovations, as there is a growing demand for modernized living spaces driven by demographic shifts and changing consumer preferences.
Future Market Outlook
Moving forward, the outlook for Cressday’s real estate market remains optimistic. Assuming current trends persist, property prices are likely to continue their gradual ascent fueled by ongoing population growth and regional economic factors. Infrastructure developments and community improvements may additionally contribute to this positive momentum.
However, it is essential for investors and homebuyers to stay informed of any changes in local policies or economic conditions that could impact the market. Keeping abreast of national economic trends as well as provincial factors unique to Alberta will be crucial for making informed decisions in this dynamic real estate environment.
In summary, while current indicators support a strong market performance moving forward, vigilance remains key for maximizing investment outcomes and navigating future market fluctuations.