Kathyrn, 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
As of the latest data, the real estate market in Kathryn, Alberta presents a steady growth pattern. The median house price stands at $500,000, with an observed appreciation of 3.5% year-over-year, indicating consistent demand for residential properties. Apartment units have also seen an increase in value, albeit at a more modest rate. The median apartment price is currently $300,000, rising by 2.1% year-over-year.
The population of Kathryn has reached 15,000 residents, experiencing a notable growth rate of 7.1%. This increase suggests an influx of new residents and potential for further expansion of the housing market. The current trends reflect a balanced market that is attractive to both homeowners and investors.
Investment Opportunities and Potential
The positive trends in property valuation coupled with substantial population growth present significant investment opportunities in Kathryn’s real estate market. Given the stronger appreciation rate for houses compared to apartments, single-family homes may offer better capital gains for long-term investments.
The demographic expansion implies the possibility for rental properties to be a lucrative investment as well. With more people moving into the area, demand for rental units is likely to rise, which could lead to increased rental yields. Investors might also consider exploring new construction projects to cater to the growing housing demand fueled by the population increase.
Future Market Outlook
The future outlook for Kathryn’s real estate market appears optimistic based on current trends and demographic indicators. The steady growth in property values suggests a robust and resilient market that is likely to maintain its upward trajectory. As long as the population continues to grow at its current pace or higher, demand for housing will remain strong.
However, investors and homebuyers should also stay informed about broader economic conditions and local developments that could impact property prices and market dynamics. Factors such as employment rates, infrastructure projects, and interest rates will play crucial roles in shaping the future real estate landscape in Kathryn.
In summary, Kathryn offers promising opportunities for real estate investment with its healthy market conditions and positive forecast. Stakeholders should monitor ongoing trends closely while considering both short-term fluctuations and long-term growth potential.
