Crowfoot, 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
1. Current Market Conditions and Trends
In the quaint town of Crowfoot, Alberta, the real estate market is currently experiencing a period of modest growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is showing consistent gains that reflect healthy demand and a stable economy in the region. Similarly, apartments are becoming increasingly valuable, with the median price sitting at $300,000 and a growth trend of 2.1% year-over-year. This indicates a robust market for both single-family homes and multi-family units.
The population of Crowfoot has reached 15,000 residents, with a significant growth rate of 7.1%. This influx of new citizens can be attributed to the town’s burgeoning economy and its appeal as a desirable place to live. The growing population is likely contributing to the steady increase in housing demand, which in turn fuels the market’s upward trajectory.
2. Investment Opportunities and Potential
Given Crowfoot’s current market conditions and demographic trends, there are substantial opportunities for investment. The consistent appreciation in property values suggests that investing in residential real estate could yield positive returns over time. Single-family homes represent a solid investment due to their higher year-over-year price increase compared to apartments. However, with the median apartment price increase also showing growth, multi-family units present an attractive opportunity for investors looking to enter the rental market or seeking lower entry points into property investment.
As the population continues to expand, demand for housing is expected to grow alongside it, potentially leading to tighter supply and higher property values. This could provide investors with capital gains as well as increased rental income potential due to heightened demand for living space among new residents.
3. Future Market Outlook
The future market outlook for Crowfoot remains optimistic based on current trends and data analysis. Should the population continue its upward trajectory at a rate of 7.1%, it stands to reason that housing demand will also maintain its current pace or even accelerate. The corresponding effect on real estate prices would likely mean continued appreciation at rates equal to or surpassing current trends.
While external economic factors such as interest rates and employment levels can impact local markets, Crowfoot’s strong year-over-year growth rates in both house and apartment prices indicate resilience and potential for sustained growth. Investors should monitor these trends closely while also considering long-term investments that align with ongoing population increases and housing demands.
In conclusion, with strategic investments based on thorough market analysis, stakeholders can look forward to favorable outcomes in Crowfoot’s real estate landscape.
