Fleet, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.7% |
| 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 | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Fleet, Alberta is currently experiencing a period of steady growth. The median house price stands at $485,000, reflecting a year-over-year increase of 2.8%. This uptick in housing prices indicates a healthy demand within the local housing market. Similarly, the median apartment price has reached $295,000, with an annual growth rate of 1.7%. These trends suggest a stable and gradually appreciating real estate environment.
With a population of 15,500 and a growth rate of 3.3%, Fleet is attracting new residents at a significant pace. This demographic expansion is likely contributing to the sustained demand for housing as more people seek accommodation in the area. The population increase also points to the potential for an expanding customer base for local businesses and service providers, which could further fuel economic activity and real estate investment interest.
Investment Opportunities and Potential
Fleet’s growing population combined with its rising property values presents attractive investment opportunities. Investors might find value in purchasing residential properties to cater to the increasing demand for housing, particularly single-family homes which are currently witnessing higher price appreciation. Additionally, the rental market could offer potential due to new residents looking for short to medium-term accommodation solutions.
The steady growth in apartment prices suggests that multi-family units might be another area worth exploring for investors interested in generating rental income. With the town’s positive economic indicators, there may also be opportunities in commercial real estate development to support the burgeoning population.
Future Market Outlook
The future outlook for Fleet’s real estate market appears optimistic given current trends and data. If the population continues to rise at the current rate or higher, it is reasonable to expect that demand for both residential and commercial properties will remain strong. This could lead to further appreciation in property values over time.
However, investors should also stay informed about economic factors such as employment rates, infrastructure developments, and municipal policies that can impact the real estate market’s trajectory. As long as these underlying fundamentals remain supportive, Fleet’s real estate market is poised for continued growth and could represent a solid investment choice with a promising return on investment.
