Hythe, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.7% |
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 | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,800 |
| Population Change | 1.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| 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 experiencing a period of steady growth. With a median house price of $485,000, the market has seen a year-over-year increase of 3.3%, indicating a healthy demand for housing in the area. The apartment sector is also showing positive trends, with the median apartment price sitting at $295,000 and a year-over-year growth rate of 2.5%. This growth is supported by the town’s increasing population, which has risen by 1.4% to reach approximately 15,000 residents. The data suggests that Hythe is experiencing balanced market conditions with a steady inflow of new residents and a consistent appreciation in property values.
Investment Opportunities and Potential
In light of the current market trends, investment opportunities within Hythe’s real estate sector appear promising. The consistent rise in property values across both houses and apartments indicates that investments made now could yield substantial returns as the market continues to grow. Furthermore, the ongoing population growth suggests that there will be sustained demand for housing, which bodes well for rental properties and developments catering to newcomers to the area. Investors should consider both residential and multifamily properties while also exploring potential commercial real estate investments that can serve the growing community.
Future Market Outlook
The future outlook for Hythe’s real estate market remains optimistic. Given the steady population growth and corresponding demand for housing, it is expected that property prices will continue their upward trajectory. This suggests that both short-term investors looking to capitalize on property flips and long-term investors aiming for rental income can find valuable opportunities in Hythe. However, investors should remain mindful of broader economic factors that might influence interest rates and lending conditions which could impact buyer affordability. Overall, with careful consideration and due diligence, Hythe’s real estate market presents an appealing prospect for diverse investment strategies.
