Driftpile, 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 Driftpile, Alberta is currently experiencing steady growth. The median house price stands at $500,000, with an annual increase of 3.5%. This trend indicates a healthy demand for housing in the area, likely driven by the local economy’s performance and the overall quality of living.
The apartment sector is also showing positive movement with the median apartment price at $300,000, which has risen by 2.1% year-over-year. This slower rate of increase compared to houses suggests a more moderate but consistent demand for this type of property. Such trends are common in areas where buyers may be looking for more affordable entry points into the real estate market or seeking investment properties.
Investment Opportunities and Potential
With a growing population that has surged by 7.1%, reaching approximately 15,000 residents, Driftpile presents significant investment opportunities. The strong population growth can be a driver for increased housing demand, suggesting that both residential development and buy-to-let properties could offer attractive returns for investors.
The steady appreciation in property values provides an optimistic outlook for capital gains over the long term. Additionally, the current trends suggest that investment in both houses and apartments could yield positive cash flow through rental income given the area’s population dynamics and housing demand.
Future Market Outlook
The future market outlook for Driftpile appears promising based on current statistics and trends. The consistent growth in property values indicates a stable market with ongoing demand. Assuming that economic conditions remain favorable and population growth continues at its current pace or accelerates, the real estate market is poised for continued growth.
Investors should watch for new developments in infrastructure and local job markets as these factors will significantly influence future real estate dynamics in Driftpile. However, as with any investment, potential risks such as economic downturns or fluctuations in interest rates should be carefully considered.
In conclusion, Driftpile’s real estate market shows positive signs for both short-term gains through rental income and long-term capital appreciation. With careful analysis and strategic investment choices, stakeholders can potentially reap substantial benefits from this growing market.
