Crestomere, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Crestomere, Alberta is currently experiencing steady growth. With a median house price at $500,000 and an annual increase of 3.5%, the housing market is showing consistent appreciation in value. This trend suggests a stable investment environment for single-family homes. Meanwhile, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year, indicating a more modest but still positive trajectory in the multi-family dwelling segment.
The population of Crestomere has reached 15,000 residents with a notable growth rate of 7.1%. This demographic expansion underlines an increasing demand for housing, which may contribute to future appreciation in property values and potentially higher rental demand.
Investment Opportunities and Potential
In light of current market conditions, Crestomere presents several attractive investment opportunities. The consistent rise in house prices reflects a robust market that favors long-term investment strategies. Investors looking to purchase residential properties for rental income may find Crestomere’s expanding population particularly beneficial as it could lead to higher occupancy rates and the potential for rental increases.
The apartment sector’s slower growth rate may appeal to investors seeking more affordable entry points into real estate investment. Given the population’s upward trend, demand for apartments is likely to remain stable or increase, which could offer investors sustained returns on investment over time.
Future Market Outlook
The future market outlook for Crestomere appears optimistic. The steady growth in house prices, combined with ongoing population increases, suggests that demand for housing will continue to rise. If current trends persist, one can expect both the single-family home and apartment markets to maintain their upward trajectories.
However, investors should consider external economic factors that might influence these projections. It is advisable to stay informed about regional developments such as employment rates, infrastructure projects, and interest rate changes that could impact the real estate market’s performance in Crestomere.
