Leavitt, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Leavitt, Alberta
The real estate market in Leavitt, Alberta, is currently experiencing steady growth. The median house price stands at $485,000, which marks a 3.2% increase from the previous year. This indicates a stable appreciation in property values, reflecting a healthy market environment that is attractive to homeowners and investors alike. Similarly, the median apartment price has seen a rise to $295,000, growing at a slightly slower pace with a 2.5% year-over-year increment.
Leavitt’s population growth of 4.8% is significantly contributing to the demand for housing. This influx of new residents suggests a robust local economy and the potential for continued demand in housing stock. As such, the current market conditions are favorable for sellers due to the higher prices and for buyers who can invest in a growing community.
Investment Opportunities and Potential in Leavitt
Investors looking at the Leavitt real estate market will find promising opportunities especially considering the consistent upward trend in property values. Single-family homes, with their 3.2% increase in median price over the past year, offer solid potential for capital gains. Meanwhile, apartments with a 2.5% price increase represent an opportunity for those looking to invest in properties with lower initial costs and potentially high rental yields.
The population growth not only drives housing demand but also implies future requirements for retail spaces, offices, and service-related properties. Investors may consider diversifying their portfolio by exploring commercial real estate investments or new residential developments to cater to the burgeoning population.
Future Market Outlook for Leavitt
The future of Leavitt’s real estate market looks optimistic based on current trends and demographic data. With population figures rising steadily at 4.8%, there is an inherent long-term demand for housing which should sustain property value increases unless there is a significant change in local economic conditions or supply levels.
As more people move to Leavitt seeking employment opportunities and quality of life, one can anticipate continued investment into local infrastructure and services which will further enhance property desirability. The sustained increase in home values suggests that now is an opportune time to invest before prices escalate further.
In conclusion, while careful market analysis and professional advice are essential before any investment decision, Leavitt presents an appealing market with steady growth in property values coupled with demographic indicators that predict ongoing demand for real estate.
