Ferintosh, 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 | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
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 | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 14,500 |
| Population Change | 5.5% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Ferintosh, Alberta
The real estate market in Ferintosh, Alberta, is currently experiencing a period of steady growth, evidenced by the increase in housing prices. The median house price stands at a robust $485,000, reflecting a year-over-year increase of 3.2%. This suggests a healthy demand for homes in the area, with prices climbing at a moderate pace that could be indicative of long-term market stability.
Apartments in Ferintosh are also seeing a positive trend, with the median price at $295,000 and growing at a slightly slower rate of 2.5% year-over-year. The divergent growth rates between houses and apartments may point to varying demand dynamics within different housing segments or could indicate a more significant barrier to entry for first-time homebuyers who are more likely to purchase apartments.
The population of Ferintosh has reached 15,300 and is on an upward trajectory with a growth rate of 5.5%. This demographic expansion underpins the increased demand for housing and could continue to exert upward pressure on property values if supply does not keep pace with demand.
Investment Opportunities and Potential
With its growing population and consistent appreciation in property values, Ferintosh presents attractive investment opportunities. Investors looking to capitalize on the residential market might consider the single-family home segment, which is currently showing stronger growth compared to apartments. However, given the lower median price point for apartments along with solid growth rates, there remains potential for investments aimed at serving budget-conscious buyers or renters.
New developments or renovations catering to this increasing population may find particular success if they align with current demands. Real estate investors would be wise to monitor local economic drivers such as employment rates and infrastructure developments that could further influence housing needs and preferences.
Future Market Outlook
The future market outlook for Ferintosh’s real estate appears promising. Assuming that the current trends continue and no major economic disruptions occur, both segments of the housing market—houses and apartments—are likely to see sustained growth. The steady increase in property values coupled with demographic expansion suggests that there will be continued demand for housing in the near future.
Investors should remain cautiously optimistic but vigilant of any signs that could alter current projections such as interest rate changes, shifts in immigration patterns or significant economic events. Maintaining a close watch on these indicators will be crucial for those looking to invest or already holding assets within Ferintosh’s real estate market.
In summary, while current trends provide a strong basis for investment across both segments of Ferintosh’s housing market, careful consideration of broader economic factors will be important when evaluating long-term prospects.
