Dunvegan, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 in Dunvegan, Alberta
The real estate market in Dunvegan, Alberta is currently experiencing steady growth. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the market is showing healthy signs of appreciation. Similarly, the median apartment price stands at $300,000 with a slower yet consistent year-over-year increase of 2.1%. This growth can be partially attributed to the region’s population expansion which has surged by 7.1%, indicating a strong demand for housing as more people choose to settle in the area.
Investment Opportunities and Potential
The positive trends in both house and apartment prices suggest that Dunvegan is a promising area for real estate investment. The steady appreciation rate signifies that investments made in the current market are likely to yield favorable returns over time. For investors looking for long-term asset growth or rental income, the increasing population and demand for housing could lead to consistent occupancy rates and potential for rental yield improvement.
Future Market Outlook
The future outlook for the Dunvegan real estate market appears optimistic. Population growth is often a leading indicator of real estate demand, and with a significant increase in residents, it’s reasonable to predict that housing demand will continue to rise. If the local economy remains robust and supporting infrastructure keeps pace with population growth, we can expect the market to maintain its current trajectory or possibly experience even greater levels of growth. Investors and homebuyers should monitor economic factors such as employment rates and development projects which could further influence the market dynamics.
