Ellscott, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The current real estate market in Ellscott, Alberta is experiencing modest growth. With a median house price of $485,000 and an upward trend of 2.8% year-over-year, the market is showing signs of healthy activity. This growth rate indicates a stable demand for housing in the region. Additionally, apartment dwellings are also seeing an increase in value, with a median price of $295,000 and a 1.9% year-over-year upward trend.
The population of Ellscott has been growing at a steady pace of 2%, suggesting a consistent influx of new residents or natural population growth. This factor contributes to the sustained demand for housing and could suggest that the current trends are likely to continue in the near future.
Investment Opportunities and Potential
Given the steady growth in property values, Ellscott presents promising investment opportunities. The consistent increase in both house and apartment prices suggests that investments in residential real estate could yield positive returns. The modest yet stable appreciation rate makes the market attractive for those looking to invest in long-term assets without the volatility seen in more aggressive markets.
For investors aiming to rent out properties, the growing population indicates a potential for a strong rental market. As newcomers settle into the area, there will be an ongoing need for rental accommodations, which could provide investors with a reliable income stream.
Future Market Outlook
The future outlook for Ellscott’s real estate market appears optimistic based on current data. The steady population growth should continue to fuel demand for housing. If economic conditions remain favorable and the region continues to attract new residents, we can expect both house and apartment prices to maintain their upward trajectory.
However, it is important for investors to keep an eye on external economic factors that could impact the real estate market’s performance such as changes in interest rates, employment trends within Alberta, and broader national economic policies. Staying informed will be key to understanding and navigating potential shifts in the marketplace.
Overall, Ellscott’s real estate market offers stability and growth potential for prudent investors who are prepared to capitalize on long-term trends rather than short-term fluctuations.
