Leavitt, 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
The real estate market in Leavitt, Alberta is currently experiencing a period of growth, with the median house price sitting at $500,000. This represents a steady increase of 3.5% year-over-year, indicating a healthy upward trend for detached homes. The market for apartments is also on the rise, albeit at a slightly slower pace; the median apartment price is now $300,000, showing an increase of 2.1% year-over-year.
The population of Leavitt has grown to 15,000 residents, showcasing a significant growth rate of 7.1%. This demographic uptick suggests increased demand for housing and can be seen as a primary driver for the rise in property values. Moreover, this population growth may be indicative of broader economic development within the region that could sustain these trends in the medium term.
Investment Opportunities and Potential
In terms of investment opportunities, Leavitt’s consistent growth in both housing prices and population suggests that there is potential for solid returns on real estate investments. The steady increase in property values points towards a market that is not experiencing volatile swings, which may appeal to investors seeking more predictable outcomes.
The stronger growth rate seen in the housing market compared to apartments might indicate that single-family homes are currently more sought after in this community. However, with apartments also appreciating consistently, there could be potential in targeting both segments depending on an investor’s portfolio strategy and risk appetite.
Demand for rental properties could also be on the rise due to population growth. Investors looking to enter the rental market may find opportunities in purchasing properties to cater to new residents who may not yet be ready or able to buy their own homes.
Future Market Outlook
Looking ahead, if the trends of population growth and property value increases continue along their current trajectory, Leavitt’s real estate market shows promise for future investment. A critical factor to watch will be the region’s ability to sustain economic expansion and attract new residents over time.
The ongoing developments within Leavitt’s local economy and infrastructure will play integral roles in shaping the future real estate landscape. Prospective investors should monitor such factors closely while considering long-term trends like urbanization patterns, employment rates, and regional economic policies that could impact the market’s direction.
In summary, while current indicators are positive, investors should maintain due diligence and keep abreast of local developments as they consider their engagement with Leavitt’s real estate market.
