Duffield, 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 (2025) | 15,000 |
Previous Population (2020) | 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 Duffield, Alberta is presently experiencing a period of moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing healthy appreciation. Similarly, the median apartment price is set at $300,000 with a slightly lower growth rate of 2.1% year-over-year. These trends suggest a stable market with consistent, albeit modest gains.
The population in Duffield stands at 15,000 with an impressive growth rate of 7.1%, which indicates a burgeoning community that could drive further demand in the housing sector. The influx of new residents may be a contributing factor to the steady increase in property values as housing demand continues to grow.
Investment Opportunities and Potential
Given the current growth trajectory, Duffield offers promising investment opportunities. The real estate market exhibits potential for both short-term gains through resale and long-term income through rental properties. Single-family homes, given their higher appreciation rate compared to apartments, present an attractive option for investors looking to capitalize on equity growth.
Apartments, while appreciating at a slower pace, could offer more affordable entry points into the market and attract investors interested in the rental sector. As population expansion persists, the need for rental accommodations is likely to rise, offering potential for solid rental yields and occupancy rates.
Future Market Outlook
The future outlook for Duffield’s real estate market remains positive. Anticipating continued population growth and economic stability in the region, it is reasonable to expect ongoing demand for housing. Should current trends persist, both houses and apartments are poised to experience further price increments.
However, prospective investors and homeowners should monitor local economic indicators such as employment rates and infrastructure developments that could influence future market dynamics. Additionally, keeping an eye on national economic policies that can impact interest rates and borrowing costs will be crucial for making informed decisions in the Duffield real estate landscape.