Franchere, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.7% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Franchere, Alberta, is currently experiencing steady growth. With a median house price of $485,000 and an upward year-over-year trend of 4%, the housing market is showing signs of increased demand and value appreciation. Similarly, the median apartment price stands at $295,000 with a positive growth trend of 2.7% over the past year. This suggests a consistent but slightly more moderate increase in the apartment sector compared to houses.
Franchere’s population has grown by 3.3%, indicating a healthy demographic expansion that could be contributing to the demand for housing in the area. The combination of rising prices and a growing population points to a vibrant market where supply and demand dynamics are favoring sellers, leading to higher property values.
Investment Opportunities and Potential
The steady increase in property prices indicates that Franchere offers promising investment opportunities for both residential properties and rental units. The continuous population growth not only suggests an expanding customer base for rental properties but also implies potential for future developments and investments in infrastructure.
Investors should consider both the current market trends and demographic data when evaluating opportunities in Franchere. The stable increase in property values across both houses and apartments signals strength in the market, which may attract investment in new construction projects or renovations of existing properties to capture value appreciation over time.
Future Market Outlook
Looking ahead, Franchere’s real estate market appears poised for continued growth. The solid year-over-year price increases across housing types combined with steady population growth present an optimistic outlook for investors and homeowners alike.
If these trends persist, investors can expect ongoing appreciation in property values. However, it is crucial to monitor economic factors such as employment rates, interest rates, and regional economic development initiatives that could impact the real estate market’s trajectory.
Overall, Franchere’s real estate market holds considerable potential for both short-term gains through resale and long-term returns through rental income or property value appreciation. Prospective buyers and investors should keep abreast of local developments to make well-informed decisions aligned with their investment strategies.
