Dunvegan, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.3% |
Quarterly trend | 3.8% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $330,000 |
3 bedrooms | $425,000 |
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 Dunvegan, Alberta, is currently characterized by moderate growth. With a median house price of $495,000, the market has experienced a year-over-year increase of 3.8%. This indicates a steady upward trend in property values, reflecting a healthy demand for housing in the area. The median apartment price stands at $295,000, which has seen a slightly lower year-over-year increase of 2.5%, suggesting that the apartment market is also growing but at a more modest pace compared to houses.
Dunvegan’s population has grown by 4.8%, which could be contributing to the demand for housing and subsequent price increases. The influx of residents may be due to new employment opportunities, lifestyle factors, or other socioeconomic drivers within the region that are attracting individuals and families.
Investment Opportunities and Potential
As an investment destination, Dunvegan offers promising potential. The consistent growth in median house and apartment prices indicates a robust market that is likely to reward long-term investment strategies. For investors considering rental properties, the population growth suggests an expanding pool of potential tenants.
Investors with a focus on residential properties may find particular value in targeting single-family homes due to their stronger appreciation rate compared to apartments. However, apartments could offer more affordable entry points into the real estate market for both investors and first-time homebuyers. Strategic investments in areas poised for further development or infrastructure improvements could yield above-average returns as the community continues to grow and evolve.
Future Market Outlook
The future outlook for Dunvegan’s real estate market appears positive. Continued population growth at a rate of 4.8% will likely sustain demand for housing across all sectors of the market. The steady increase in property values is expected to persist barring any unforeseen economic disruptions or policy changes impacting real estate dynamics.
In light of current trends and demographic shifts, it is reasonable to anticipate ongoing interest from both buyers and investors in Dunvegan’s housing market. This interest should support further property value appreciation and solidify the town’s reputation as an attractive location for both living and investing.
Potential investors and homeowners should keep an eye on economic indicators such as employment rates, new construction developments, and mortgage rates as these factors will continue to play key roles in shaping the real estate landscape in Dunvegan.