Frains, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.2% |
| 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 | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Frains, Alberta is currently experiencing a period of moderate growth. The median house price stands at $490,000, which marks a year-over-year increase of 4.2%. This suggests a healthy demand for detached homes in the area, likely driven by both local buyers and those looking to relocate from other regions.
In contrast, the apartment sector is witnessing a more subdued rise with the median apartment price sitting at $295,000 and a year-over-year trend showing a 2.5% increase. This slower pace may reflect a market that has more supply or less demand for multi-family housing units relative to single-family homes.
The population of Frains has reached approximately 15,500 residents, growing at an annual rate of 3.3%. This steady population growth is contributing to the sustained demand for housing in the area.
Investment Opportunities and Potential
The consistent growth in house prices coupled with ongoing population increases positions Frains as a potentially attractive market for real estate investment. Single-family homes, in particular, could offer strong capital appreciation potential given their higher year-over-year price increase. Investors should also note that the rental market could benefit from the town’s population growth, indicating opportunities for income-generating properties.
While apartments have seen a lesser increase in value compared to houses, they may represent an opportunity for investors looking for more affordable entry points into the market or those banking on long-term demographic trends that might favor denser living spaces.
Future Market Outlook
The future outlook for Frains’ real estate market appears cautiously optimistic. Given the solid foundation of steady population growth and consistent appreciation in property values, it is likely that the demand for both houses and apartments will continue to rise.
However, investors and homebuyers alike should monitor economic factors such as employment rates, interest rates, and broader provincial economic trends which can affect local real estate markets significantly. Assuming stable economic conditions persist, Frains could maintain its trajectory of moderate yet stable growth within both segments of the housing market.
In summary, while current trends suggest continued health in Frains’ real estate market, potential shifts in economic conditions or changes in regional development policies could impact future performance. As with any investment decision, due diligence and consideration of one’s financial situation and risk tolerance are paramount.
