Czar, 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 Czar, Alberta is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for detached homes, which may be partly driven by the region’s population growth and economic stability. Moreover, the market for apartments is also showing positive momentum with the median price at $300,000 and an annual appreciation rate of 2.1%. These figures indicate a consistent upward trend in property values across different housing types.
Investment Opportunities and Potential
Given the sustained price increases in both houses and apartments, Czar presents promising opportunities for real estate investors. The robust population growth of 7.1% is likely contributing to the demand for housing. Investors can leverage this upward trajectory by purchasing properties that will potentially appreciate in value. The rental market could also benefit from the population surge, suggesting that rental properties might offer regular income streams and long-term capital appreciation.
Future Market Outlook
The future outlook for Czar’s real estate market remains optimistic due to several factors. The population of approximately 15,000 is on an upward trend, which may continue to drive housing demand. With current trends indicating moderate yet steady price growth for both houses and apartments, the market shows no signs of sudden volatility or downturns. Investors and homebuyers can have a degree of confidence in the stability of Czar’s real estate market over the coming years.
