Eckville, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Eckville, Alberta
In the town of Eckville, Alberta, the real estate market is currently experiencing moderate growth. The median house price stands at $485,000, reflecting a year-over-year increase of 2.8%. This indicates a stable market with consistent appreciation in property values. Similarly, apartments are also following an upward trajectory with a median price of $295,000 and a more modest growth trend at 1.5% over the prior year.
The current market conditions suggest that while growth is present, it remains within sustainable levels, preventing the overheating of the market. This is likely influenced by the area’s demographic expansion, with a significant population growth rate of 3.4%, which may contribute to steady demand for housing in Eckville.
Investment Opportunities and Potential in Eckville
Eckville presents several attractive opportunities for real estate investors. The consistent rise in property values coupled with a growing population provides a favorable environment for both residential and rental investments. The relatively higher appreciation rate for houses compared to apartments could potentially offer better long-term capital gains for investors focusing on detached or semi-detached properties.
Furthermore, the increasing population signifies a potential rise in demand for rental properties, making apartment buildings and multiplexes appealing investment options. Investors might also explore opportunities in developing new housing units or refurbishing existing ones to cater to the influx of residents seeking modern living spaces.
Future Market Outlook for Eckville
The future outlook for Eckville’s real estate market appears optimistic. Assuming that current trends continue, property prices are expected to maintain a gradual upward momentum. The sustained population growth should keep demand for housing strong, underpinning both the resale and rental markets.
However, investors and homebuyers should remain cognizant of external economic factors that can impact interest rates and affordability—key elements that influence buyer sentiment and market dynamism. Additionally, staying informed about local developments such as infrastructure projects or changes in zoning laws is crucial as these can significantly affect property values and investment potential.
In conclusion, Eckville’s real estate market offers promising investment opportunities backed by positive trends in property value appreciation and population growth. While careful analysis of local and broader economic indicators is essential, the outlook remains favorable for those considering entering or expanding their presence in the Eckville real estate landscape.
