Dovercourt, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $499,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $499,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| 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 Dovercourt, Alberta, is currently experiencing a steady growth in property values. With a median house price of $499,000 and a year-over-year increase of 4%, the market is demonstrating resilience and continued demand. Similarly, apartments are appreciating with a median price of $295,000 and a growth trend of 2.5% over the past year. These statistics suggest a healthy market where property values are consistently rising.
The population of Dovercourt stands at 15,500 and has seen a significant growth rate of 3.3%. This demographic trend indicates an expanding market with increasing demand for housing. The combination of population growth and rising property prices points to a competitive market environment where inventory may be quickly absorbed.
Investment Opportunities and Potential
Given the positive trends in property valuation, Dovercourt represents a promising opportunity for real estate investment. The steady appreciation in house and apartment prices shows potential for capital gains over the medium to long term. Moreover, the robust population growth suggests that rental properties may also offer attractive returns due to heightened demand.
Investors should consider both residential properties for direct investment and rental income as well as looking into new development projects that cater to the growing population. The current trends indicate that there may be unmet housing needs as more people move into the area, which could open opportunities for developing multi-family units or affordable housing options.
Future Market Outlook
The future outlook for Dovercourt’s real estate market remains optimistic based on current data. With continuous population growth and consistent property value appreciation, the market is poised for ongoing expansion. Should these trends persist, investors can expect sustained demand for housing which would likely result in further capital appreciation and potentially higher rental yields.
However, it is important to monitor local economic factors, interest rates, and potential policy changes that could impact the real estate market. Keeping abreast of these factors will be crucial in making informed investment decisions and forecasting future market conditions accurately.
