Frank, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.9% |
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 | $600,000 |
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) | 1.8 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Frank, Alberta is currently experiencing a steady growth trajectory. The median house price in the region stands at $485,000, reflecting a year-over-year increase of 4%. This increment underscores a healthy demand in the housing sector, which is likely supported by economic stability and consumer confidence within the province.
Similarly, the apartment market is showing positive momentum with the median price reaching $295,000, which corresponds to an annual appreciation rate of 2.5%. This more modest growth compared to houses suggests a differentiated demand pattern for multi-family units versus single-family homes.
The population of Frank has grown to 15,500 residents, marking a substantial growth rate of 3.3%. This demographic expansion is indicative of an increasing need for residential accommodation, potentially driving the real estate demand further.
Investment Opportunities and Potential
Given the solid year-over-year price increases in both houses and apartments, Frank presents appealing investment opportunities. For investors looking at long-term capital gains, the current trends point towards continued appreciation in property values. Single-family homes are particularly promising with a higher growth rate observed.
Moreover, the notable population growth provides a larger pool of potential renters or buyers. This demographic trend can lead to increased rental demand, especially for apartments, thus ensuring favorable conditions for buy-to-let investors seeking stable rental income streams.
Investors should also consider the broader economic indicators and infrastructure developments within the region that could influence future property values. Strategic investments aligned with such growth drivers could yield significant returns.
Future Market Outlook
The outlook for Frank’s real estate market appears positive. The sustained increase in property prices suggests that the market is on an upward curve. Assuming this trend continues alongside economic stability and further population growth, both housing and apartment markets are projected to maintain their upward momentum.
However, it’s important for stakeholders to monitor potential macroeconomic risks that could affect consumer purchasing power or interest rates. A rise in interest rates, for example, could slow down mortgage lending and subsequently dampen the housing market growth.
In summary, with careful consideration of economic factors and ongoing monitoring of market conditions, real estate investors can be cautiously optimistic about Frank’s market potential over the coming years.