Crossfield, 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 (2025) | 15,000 |
Previous Population (2020) | 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
In Crossfield, Alberta, the real estate market is currently experiencing steady growth. The median house price sits at approximately $500,000, reflecting a year-over-year increase of 3.5%. This growth indicates a healthy demand for single-family homes in the area. Similarly, the median apartment price has risen to $300,000, with a year-over-year trend showing a 2.1% increase. This suggests that while the market for apartments is also growing, it is doing so at a slower pace compared to houses.
The population of Crossfield has reached 15,000 residents and continues to grow at a rate of 7.1%. This significant population growth can contribute to increased housing demand and could be a driver for future price appreciation in both housing and apartment markets.
Investment Opportunities and Potential
The current growth trends and population increase in Crossfield offer attractive opportunities for real estate investors. The consistent rise in property values coupled with robust population expansion suggests that there is potential for both long-term capital gains and rental income opportunities. Given the stronger growth rate for houses, investors might find single-family homes to have higher potential for appreciation.
However, with apartments appreciating at a slightly slower pace, they may offer more affordable entry points into the market or appeal to investors looking for rental properties catering to smaller households or individuals who prefer multi-family living arrangements.
Future Market Outlook
Looking forward, the real estate market in Crossfield is poised for continued growth. The substantial population increase implies ongoing demand for housing which should underpin property values. With national economic factors also in play, such as interest rates and employment levels, careful monitoring of these variables will be crucial as they could affect affordability and investment attractiveness.
If current trends persist, we can expect house prices to maintain a moderate upward trajectory, potentially offering rewarding investment opportunities. For apartments, while the growth is more tempered, they remain an important part of a diverse real estate portfolio in this expanding market.
Investors and homebuyers should consider both current data trends and broader economic indicators when making decisions about entering the Crossfield real estate market. While the outlook remains positive, vigilance is advised as conditions can shift due to various internal and external factors affecting the housing sector.