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 of $500,000 and a year-over-year increase of 3.5%, the market remains robust for single-family homes. This trend suggests a healthy demand that has contributed to the rise in property values over the past year. Similarly, the median apartment price stands at $300,000 with a growth rate of 2.1% year-over-year. The slower growth rate in the apartment sector indicates a more moderate but still positive appreciation in value.
Hillcrest’s population has seen an impressive rise of 7.1%, which is likely to be a driving force behind the sustained demand for housing in both purchase and rental markets. This demographic growth can lead to an increased need for diverse housing options, catering to singles, families, and retirees alike.
Investment Opportunities and Potential
The consistent growth in property values coupled with the significant population increase highlights Hillcrest as a promising location for real estate investment. The upward trend in house prices points to strong potential for capital gains over the long term for investors purchasing single-family homes.
For those looking at the apartment market, the lower but stable increase in price trend signifies an opportunity for investors seeking more affordable entry points into the real estate market with potential for steady appreciation. Additionally, as the population continues to grow, demand for rental properties is expected to rise, which could lead to higher rental yields and occupancy rates.
Investors should also consider future developments and infrastructure projects within Hillcrest that may impact property values positively. Areas slated for improvement or development could present opportunities for investors to buy ahead of these changes.
Future Market Outlook
The future real estate market outlook for Hillcrest appears optimistic based on current trends and demographic data. If population growth maintains its current trajectory, demand for housing is expected to remain strong. This bodes well for both homebuyers seeking long-term appreciation in their property investments and landlords who can anticipate continued or increased demand for rental properties.
The economic health of Alberta and local policy decisions will also play crucial roles in shaping the future of Hillcrest’s real estate market. Should these factors remain favorable, investors and homeowners alike can expect continued positive momentum in both property value growth and overall market vitality.
Given these factors, stakeholders are advised to monitor local economic indicators, zoning laws, and development plans closely as they will provide further insights into Hillcrest’s real estate trajectory.
