Franchere, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
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 | $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 (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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
As of the latest data, Franchere’s real estate market is characterized by steady growth. The median house price in the region stands at $490,000, marking a 4% increase year-over-year. This indicates a healthy demand for housing and a robust market that has been resilient in the face of economic fluctuations. In comparison, apartment prices have seen a more modest rise, with a 1.9% year-over-year growth to a current median price of $295,000. This disparity in growth rates suggests that houses are currently in higher demand than apartments, which may be reflective of demographic trends or buyer preferences in Franchere.
Investment Opportunities and Potential
The investment landscape in Franchere shows promising potential for both residential properties and rental markets. Given the solid appreciation rate of 4% for houses, investors can anticipate continued value growth, making the purchase of residential properties an attractive option for long-term equity gains. Additionally, the slower growth rate in apartment prices may present an opportunity for investors to enter the market at a lower price point while still benefiting from the overall positive trend.
With a population growth rate of 2.7%, one of the highest in the province, there is an increasing demand for housing that could drive rental yields up. Investors might consider exploiting this demographic expansion by investing in rental properties or developments tailored to meet the expected surge in housing needs.
Future Market Outlook
The future real estate market outlook for Franchere appears optimistic. The sustained population growth combined with consistent property value increases points towards a thriving market with continued opportunities for appreciation. If current trends persist, we can expect both house and apartment prices to maintain an upward trajectory, albeit at different paces.
However, potential investors should be mindful of broader economic factors and local policies that could impact growth rates. It will be crucial to monitor interest rates, employment figures, and infrastructure developments as they can significantly influence both short-term market fluctuations and long-term trends.
