Fallis, 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 Fallis, Alberta, the real estate market is currently experiencing steady growth. The median house price in the area is at $500,000, with a year-over-year increase of 3.5%. This suggests a healthy demand for housing and a competitive market for potential homebuyers. The apartment sector is also showing positive momentum, with the median apartment price sitting at $300,000 and experiencing a slightly lower year-over-year growth of 2.1%. The consistent growth in both sectors indicates a stable market environment.
Investment Opportunities and Potential
With the ongoing population growth of 7.1%, which has brought the local population to 15,000, Fallis is positioning itself as an attractive location for real estate investors. The steady increase in housing prices reflects a market that has not yet reached saturation and still offers room for appreciation. Investors looking into residential properties might find single-family homes to be particularly promising due to their higher rate of capital gain. Similarly, apartments present an opportunity for those interested in tapping into the rental market or looking for lower entry points into property investment.
Future Market Outlook
The future outlook for Fallis’s real estate market appears promising. Given the solid population growth rate and corresponding demand for housing, it’s reasonable to anticipate that property values will continue to rise, albeit potentially at a moderated pace as new supply enters the market. The current upward trends are likely to sustain if economic conditions remain favorable and if Fallis continues to attract new residents due to its amenities, job opportunities, or lifestyle attractions.
In summary, while no market is without risk, Fallis presents several appealing factors for both homebuyers and investors. Considering the ongoing trends and demographic dynamics, stakeholders can be cautiously optimistic about the potential for continued growth in this vibrant Alberta community.
