Kavanagh, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.5% |
| Quarterly trend | 4.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 1.0% |
| 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 | $425,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Kavanagh, Alberta, is currently experiencing steady growth. With a median house price of $485,000 and a year-over-year price increase of 4%, the market is showing signs of healthy demand. Similarly, the median apartment price stands at $290,000, with a growth trend of 2.5% over the past year. These statistics indicate a robust real estate environment where property values are progressively appreciating.
The population of Kavanagh has grown to 15,200, reflecting a growth rate of 2.7%. This demographic expansion contributes to the demand for housing and supports the positive trends seen in property valuation increases.
2. Investment Opportunities and Potential
In terms of investment opportunities, Kavanagh presents potential for both short-term gains and long-term appreciation. The consistent rise in house and apartment prices suggests that investments in residential properties could yield profitable returns. Moreover, the town’s ongoing population growth implies an enduring need for housing, which may encourage rental market investments.
In light of these conditions, investors should consider the following:
- Purchasing single-family homes or apartments for long-term capital appreciation.
- Developing rental properties to cater to the increasing population.
- Exploring commercial real estate opportunities that arise from residential growth.
3. Future Market Outlook
The future market outlook for Kavanagh is optimistic. Given the current trends and population growth rates, it is expected that both demand and property prices will continue to ascend. The 4% increase in house prices and 2.5% rise in apartment prices suggest a stable trajectory for investors looking to capitalize on equity growth.
The economic indicators also point towards sustainable development within the town, potentially attracting more residents and businesses. As such, strategic investments made now could benefit from Kavanagh’s projected prosperity.
In conclusion, Kavanagh’s real estate market presents strong investment opportunities backed by solid data on market trends and demographic expansion. Stakeholders should monitor these trends closely to make informed decisions aligned with their investment goals.
