Duchess, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $498,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $390,000 |
| 3 bedrooms | $498,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $345,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 15,000 |
| Population Change | 1.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Duchess, Alberta, is experiencing a period of moderate growth. The median house price currently stands at $498,000, reflecting a year-over-year increase of 2.8%. This steady rate suggests a stable market environment, with demand for housing maintaining an upward trajectory. Similarly, the median apartment price has risen to $295,000, showing a slightly lower growth rate of 2% over the same period. These trends indicate a consistent demand for both types of properties in Duchess.
Investment Opportunities and Potential
The investment potential in Duchess’s real estate market is underscored by its positive growth rates. Given that both housing and apartment prices are increasing at sustainable rates, investors could anticipate continued appreciation in property values. The ongoing population growth of 1.33% contributes to this potential by ensuring a steady inflow of residents seeking housing. This demographic trend can result in rental demand and opportunities for investors looking to enter the landlord market or expand their rental portfolios.
Future Market Outlook
Prospects for Duchess’s real estate future appear promising based on current indicators. The consistent population expansion suggests an enduring need for housing, which could keep driving property values upwards if supply does not outpace demand. Investors should monitor the local economy and development plans as these factors will significantly influence the long-term outlook of the market. Any initiatives that attract businesses or improve local amenities are likely to enhance property values further. However, it is also crucial to stay cognizant of broader economic conditions that may impact interest rates and lending practices—key elements that can affect real estate markets across Canada.
