Duffield, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
In Duffield, Alberta, the real estate market is experiencing consistent growth. The median house price currently stands at $520,000, which represents a 4% year-over-year increase. This suggests a stable and growing housing market. Meanwhile, apartments are showing a more modest but still positive growth trend with the median price at $315,000 and an annual appreciation rate of 2.5%. These figures indicate that while houses are in higher demand, apartments remain an attractive option for certain buyer segments.
The population of Duffield has reached approximately 15,500 residents, with a robust growth rate of 3.3%. This demographic trend is likely contributing to the demand for housing in the area, further fueling the market’s upward trajectory.
2. Investment Opportunities and Potential
Given the steady increase in property values and the growing population, Duffield presents several promising investment opportunities. Single-family homes might be particularly appealing due to their higher appreciation rate. Investors looking to capitalize on rental income or long-term capital gains should consider this segment of the market.
Apartments also offer investment potential, especially for those seeking to cater to smaller households or individuals who prefer lower-maintenance living spaces. With a 2.5% price increase year-over-year, apartments could provide a more accessible entry point into real estate investment or serve as a diversified asset within a larger portfolio.
3. Future Market Outlook
The current trends suggest a positive outlook for Duffield’s real estate market over the coming years. If the area maintains its population growth rate and economic stability, we can expect continued demand for both houses and apartments.
The sustained 4% growth in house prices points toward ongoing investor confidence and buyer demand, likely driven by Duffield’s economic prospects and quality of life offerings. As long as these factors remain favorable, investors and homeowners alike can be cautiously optimistic about future property value appreciation in Duffield.
In conclusion, both medium- and long-term outlooks for Duffield’s real estate market appear promising based on current data trends. Stakeholders should monitor key indicators such as population growth, employment rates, and regional developments closely to make informed decisions when engaging with this vibrant market.
