Faust, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $480,000 |
Monthly growth | 1.1% |
Quarterly trend | 2.8% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.9% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $480,000 |
4 bedrooms | $570,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $430,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,500 |
Population Change | 3.4% |
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
The real estate market in Faust, Alberta, has demonstrated consistent growth, with the median house price currently sitting at CAD $480,000, which marks a year-over-year increase of 2.8%. This steady appreciation indicates a stable housing market that continues to attract buyers. On the other hand, apartments in Faust are more affordable, with a median price of CAD $295,000 and a price increase trend of 1.9% year-over-year. This lower rate of increase for apartments suggests that they may be a more accessible entry point into the real estate market for first-time buyers or investors looking for a smaller initial investment.
With the population of Faust growing at a rate of 3.4%, demand for housing is expected to rise. The increasing population is likely contributing to the steady price appreciation seen in both housing categories and may lead to tightened market conditions if new construction does not keep pace with demand.
Investment Opportunities and Potential
The growth indicators present in Faust’s real estate market suggest potential for long-term investment opportunities. The consistent increase in property values provides investors with confidence regarding capital gains over time. Single-family homes, given their higher median price and stronger appreciation rate, may offer larger absolute returns on investment but require higher capital outlay.
Apartments offer a more modest investment opportunity with a smaller capital requirement. Given their lower price point and positive trend in value appreciation, they provide an attractive option for individuals looking to enter the property market or diversify their investment portfolio. Additionally, the growing population could result in higher rental demand, potentially leading to favorable rental yields for landlords.
Future Market Outlook
The future outlook for Faust’s real estate market remains optimistic due to the ongoing population growth and corresponding demand for housing. Assuming economic factors remain stable and supportive of real estate growth, both housing segments should continue to experience gradual price increases.
However, prospective investors and homebuyers should monitor local economic developments and any changes in supply dynamics that could affect market conditions. For example, significant new housing developments could temper price growth by alleviating supply constraints while economic downturns could dampen buyer enthusiasm.
In summary, Faust’s real estate market offers solid opportunities for investment and homeownership against a backdrop of steady growth and demographic expansion. Stakeholders should maintain vigilance over local trends to capitalize on this positive trajectory.