Ferintosh, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| 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 | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,750 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Ferintosh, Alberta is currently experiencing moderate growth. With a median house price of $485,000, the market has seen a year-over-year increase of 2.8%. This suggests a steady demand for housing in the area, reflecting consumer confidence and a healthy local economy. Similarly, the median apartment price stands at $295,000, which has risen by 1.9% from the previous year. This slower growth rate in apartment prices could indicate a greater demand for single-family homes or possibly a saturation of the apartment market.
The population of Ferintosh stands at 15,200 and has grown by 2.7%. This influx of new residents may contribute to the sustained demand for housing and can be seen as a positive indicator for local real estate stability.
Investment Opportunities and Potential
Given the consistent growth in property values and population size, Ferintosh presents attractive opportunities for real estate investors. The gradual increase in house prices reflects a stable market with potential for long-term capital gains. Investors might consider single-family homes as a primary focus due to their higher appreciation rate compared to apartments.
For those looking towards rental investments, the growing population suggests a potential increase in rental demand, particularly if this trend continues. As such, investing in properties that could serve as rentals might offer a sustainable income stream. It’s important for investors to conduct thorough market research to identify areas within Ferintosh that have higher rental yields or are in high demand due to proximity to amenities and employment hubs.
Future Market Outlook
The future outlook of Ferintosh’s real estate market appears cautiously optimistic. Assuming the population continues to grow at its current rate or higher, demand for housing is likely to remain strong. The consistent growth in property prices also implies that investing in Ferintosh’s real estate could be promising for medium to long-term returns.
However, prospective investors and homeowners should remain aware of broader economic conditions that might affect interest rates and lending policies which can impact affordability and investment viability. Keeping an eye on government policies related to housing development and infrastructure projects within Ferintosh will also provide valuable insights into future property value projections.
