Hillcrest, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $500,000 |
Monthly growth | 1.2% |
Quarterly trend | 3.5% |
Stock on market | 0.8% |
Apartment
Median price | $300,000 |
Monthly growth | 0.9% |
Quarterly trend | 2.1% |
Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $400,000 |
3 bedrooms | $500,000 |
4 bedrooms | $600,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $250,000 |
2 bedrooms | $350,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,000 |
Previous Population (2020) | 14,000 |
Population Change | 7.1% |
Total Private Dwellings | 6,000 |
Occupied Private Dwellings | 5,500 |
Population Density (per km²) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hillcrest, Alberta, is currently experiencing steady growth. With a median house price at $500,000, the market has seen a year-over-year increase of 3.5%. This suggests that the market is healthy and that property values are appreciating at a moderate pace. Similarly, apartments in Hillcrest are also on the rise with a median price of $300,000 and an annual growth rate of 2.1%. This growth is reflective of the general economic stability in the region and an indication of ongoing demand for housing.
Investment Opportunities and Potential
The demographic trends in Hillcrest are promising for potential investors. The population has grown by 7.1%, which is a significant indicator of the area’s attractiveness and potential for further real estate development. The steady rise in property prices indicates a consistent demand which may be beneficial for long-term investments. Given the current trends, investing in both residential homes and apartment units could yield positive returns, particularly for those looking to engage in rental property investment or speculative real estate ventures.
Future Market Outlook
The future of Hillcrest’s real estate market looks optimistic based on current data. Assuming the area’s economy continues to prosper and attract new residents, we can expect sustained growth in property values. However, it is important to note that external economic factors and changes in interest rates could impact these projections. Nevertheless, given the robust population growth and steady appreciation rates, Hillcrest stands out as a potentially strong market for both residential living and real estate investment opportunities over the coming years.