Hythe, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Hythe, Alberta is currently exhibiting steady growth. With the median house price standing at $500,000, there has been a consistent year-over-year increase of 3.5%. This trend suggests that the housing market is healthy and appreciating at a moderate pace. Similarly, the median apartment price has reached $300,000, with a slightly lower growth rate of 2.1% year-over-year. The positive trends in both housing and apartment price indices reflect a stable demand in the region’s real estate market.
The population of Hythe has grown to 15,000, experiencing a significant growth rate of 7.1%. This demographic expansion contributes to the increased demand for housing and bolsters the overall market activity.
Investment Opportunities and Potential
In light of the current market conditions, investment opportunities in Hythe are promising. The continuous population growth coupled with rising property values indicates a strong potential for rental income and capital gains for investors. Single-family homes, given their higher appreciation rate, present particularly attractive options for long-term investment strategies.
Apartments also offer a viable entry point for investors looking to capitalize on the expanding rental market driven by newcomers to Hythe. With prices growing at a more modest rate compared to houses, apartments may appeal to investors seeking more affordable investment opportunities with steady yield prospects.
Future Market Outlook
The outlook for the Hythe real estate market appears optimistic. The consistent growth in property values, supported by robust population increase, signals that the demand for residential real estate will likely continue its upward trajectory. Assuming that economic conditions remain favorable and employment rates stay stable or improve, we can anticipate continued moderate price appreciation in both houses and apartments.
The town’s ability to attract new residents will be crucial; thus, watching local economic developments and infrastructure projects will be important for forecasting potential shifts in the market dynamics. However, based on current trends and data, Hythe’s real estate market is poised for ongoing growth and remains an attractive destination for both homebuyers and investors alike.
