Cynthia, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.4% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $335,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Cynthia, Alberta is currently experiencing steady growth. The median house price stands at $495,000, which denotes a year-over-year increase of 3.4%. This increment suggests a healthy demand in the housing sector, reflective of both local economic stability and buyer confidence. Similarly, the median apartment price has risen to $295,000, following a 2% year-over-year trend. This increase, albeit more modest than that of houses, indicates a consistent upward trajectory in property values across different types of real estate in the area.
Investment Opportunities and Potential
Cynthia’s real estate market presents promising investment opportunities. The sustained growth in property values coupled with a population growth rate of 2.7%, points to an expanding market with potential for both short-term gains through resale and long-term income through rental properties. Investors should consider diversifying their portfolios to include both houses and apartments to capitalize on the broad appeal across different segments of the market.
Future Market Outlook
The future market outlook for Cynthia, Alberta remains optimistic. With a growing population currently at 15,200 residents, the demand for housing is likely to continue rising. Infrastructure developments and economic initiatives could further bolster this growth trajectory. However, investors should remain vigilant about broader economic factors that may impact interest rates and lending conditions moving forward.
