Cressday, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
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 | $505,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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 stable growth. With a median house price of $505,000, which has increased by 3.2% year-over-year, the market is showing healthy appreciation. This is slightly above the national average, indicating a robust local economy and housing demand.
In comparison, the median apartment price stands at $295,000, with a more modest growth trend of 2.5% year-over-year. This suggests that the apartment market is also advancing steadily, though at a slower pace than houses.
The population in Cressday is on an upward trajectory with a significant growth rate of 3.3%. This surpasses many other regions and reflects positively on the potential for ongoing demand in housing.
Investment Opportunities and Potential
Considering the steady increase in property values and the significant population growth, Cressday presents attractive investment opportunities. The consistent rise in median house prices indicates a sellers’ market; however, the growth rate allows for potential buyers to enter the market without facing the volatility seen in some overheated areas.
Apartments offer an alternative investment opportunity with their lower entry price point and solid appreciation rate. Given the population growth, rental demand is likely to remain strong, making apartments an appealing option for both long-term rental income and capital appreciation.
Investors should also note the diversification of property types available in Cressday. Opportunities may exist in both residential and mixed-use developments to cater to the growing community’s needs.
Future Market Outlook
The future real estate market outlook for Cressday is optimistic. With ongoing population growth and economic stability, demand for housing is expected to continue its upward trend. Careful monitoring of interest rates and national economic policies will be vital as they can affect mortgage affordability and investment attractiveness.
If current trends persist, investors can expect gradual but continuous appreciation in property values. The focus should be on long-term investment strategies that capitalize on Cressday’s steady growth rather than short-term speculation.
In summary, based on current statistics and trends, Cressday’s real estate market offers a promising landscape for investors seeking stable growth and solid returns.
