Innisfree, 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 in Innisfree, Alberta
Innisfree, Alberta, is currently experiencing a stable real estate market, with both the median house and apartment prices showing a consistent upward trend. As of the latest data, the median house price in the area stands at $500,000, representing a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, likely driven by factors such as local economic growth and consumer confidence.
Similarly, apartments are becoming increasingly valuable with a median price of $300,000 and a growth trend of 2.1% over the past year. This more modest increase, compared to houses, may indicate a slightly slower but stable demand in the multi-family dwelling segment.
The region’s population growth is robust at 7.1%, indicating a growing community that could further stimulate housing demand. This influx of residents might be attributed to employment opportunities or attractive living conditions within Innisfree.
Investment Opportunities and Potential
The steady increase in property values combined with the significant population growth presents promising investment opportunities within Innisfree’s real estate market. The ongoing appreciation of housing assets suggests that investments made now could yield favorable returns through both equity gains and potential rental income.
Given the current trends, investors might find particular potential in the single-family home market where the year-over-year price increase outpaces that of apartments. Additionally, considering the population surge, there could be an opportunity to develop new housing projects or renovate existing properties to cater to incoming residents.
Future Market Outlook
Looking ahead, the real estate market in Innisfree seems poised for continued growth. The steady climb in property values is expected to persist as long as the local economy remains strong and population trends continue upwards. If these conditions are maintained, Innisfree could see sustained or even increased rates of real estate appreciation over time.
However, as with any investment forecast, it is crucial for stakeholders to remain vigilant about regional economic indicators and housing supply dynamics which could affect market conditions. Investors should also monitor provincial and national economic policies that might influence interest rates and borrowing costs.