Eckville, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $410,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
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
Current Market Conditions and Trends
The real estate market in Eckville, Alberta is currently experiencing steady growth. With a median house price of $485,000 and an annual appreciation trend of 3.2%, the market is showing healthy signs of stability and growth. The median apartment price stands at $290,000, with a slightly lower appreciation rate of 1.9% year-over-year. This indicates a consistent demand for housing in the region.
The population of Eckville has reached 15,500 and is growing at a rate of 3.3%. This increase in population is contributing to the demand for housing and could be a key driver for future price increases as supply tries to catch up with the growing demand.
Investment Opportunities and Potential
Given the positive trends in both housing and population growth, Eckville presents attractive investment opportunities. Investors could benefit from the stable increase in property values, particularly in the single-family home segment which shows a higher appreciation rate. The steady growth suggests that investments made now have potential for capital gains in the long term.
Additionally, the rental market may offer promising returns due to the influx of new residents. With rising property prices, there could be an increasing segment of the population looking to rent rather than buy, which would drive up rental demand and potentially rental rates.
Future Market Outlook
The future market outlook for Eckville looks optimistic based on current trends. The consistent population growth indicates that there will be an ongoing need for housing, which should underpin property values. If these demographic trends continue alongside economic stability and favorable mortgage rates, the market is likely to maintain its upward trajectory.
However, investors should also consider broader economic factors such as employment rates, regional developments, and national economic indicators that could affect market conditions. Careful analysis of these external factors will be critical for anyone looking to participate in Eckville’s real estate market.
