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. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the housing sector shows a healthy and stable upward trend. Similarly, the median apartment price stands at $300,000, with a year-over-year increase of 2.1%. These figures suggest that Driftpile’s real estate market is growing at a sustainable pace, which is in line with the overall economic conditions in the region.
The population of Driftpile has experienced significant growth, with an increase of 7.1%. This demographic change is indicative of a vibrant community that is attracting new residents due to factors such as employment opportunities, quality of life, and affordable housing options compared to larger urban centers.
Investment Opportunities and Potential
For investors looking towards Driftpile’s real estate market, there are promising indicators for both rental and equity gains. The consistent rise in property values suggests that purchasing real estate in this area could yield substantial long-term returns. As the local population continues to grow, demand for rental properties is also likely to rise, which could lead to increased rental rates and lower vacancy rates.
Given the current trends, both residential houses and apartments present viable investment opportunities. Houses offer more significant capital gains potential due to their higher price appreciation rate. In contrast, apartments might appeal to those looking for lower entry points into the market or targeting the rental sector where demand for more affordable living options is typically robust.
Future Market Outlook
The future outlook for Driftpile’s real estate market remains optimistic. The continued population growth will likely sustain demand for housing, thereby supporting property value appreciation. Moreover, as the local economy diversifies and strengthens further – potentially attracting more businesses and industries – the real estate market could benefit from an influx of professionals seeking residency.
However, it is essential for investors and homeowners to monitor economic indicators closely as shifts in interest rates, employment patterns, or regional economic policies could impact market conditions. Given current trends and barring unforeseen economic shifts, Driftpile’s real estate market seems poised for ongoing growth with ample opportunities for astute investors.
