Duchess, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $482,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $482,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| 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 currently experiencing a steady growth trajectory. With a median house price at $482,000 and an annual house price trend increasing by 3.2%, the market demonstrates stability and consistent appreciation. Similarly, the median apartment price is listed at $295,000, following a year-over-year increment of 2.5%. This indicates a solid and escalating demand for housing within the region.
The town’s population has surged by 4.8%, reaching a total of 15,200 residents. This significant population growth suggests an influx of new residents seeking housing, which may be driving the market demand and contributing to the gradual price increases seen across both houses and apartments.
Investment Opportunities and Potential
In light of the current market trends, Duchess presents several enticing investment opportunities. The moderate yet consistent price appreciation for both houses and apartments hints at the potential for long-term capital gains for investors. The robust population growth further supports the investment thesis, as it signals a burgeoning demand for rental properties.
Investors focusing on rental income can capitalize on the increasing population by investing in multi-family units or developing apartment complexes that cater to new residents seeking affordable living options. Additionally, with single-family homes appreciating steadily, there is opportunity to invest in residential properties that could benefit from value appreciation over time.
Future Market Outlook
The real estate market in Duchess appears poised for continued growth in the foreseeable future. Anticipating further population increases and economic development within the area, one can expect ongoing demand for housing which should sustain property value appreciation.
Moreover, monitoring local economic drivers such as employment rates and infrastructure developments will be key to understanding the broader impact on real estate prices. Investors should remain vigilant of any such changes that may affect supply and demand dynamics within the housing market.
In conclusion, Duchess’s real estate market presents a promising landscape for investment with its sound growth patterns and positive demographic trends. Stakeholders are advised to keep abreast of local economic developments while considering long-term investment strategies in this region.
