Luscar, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.8% |
| 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 | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| 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 Luscar, Alberta
In Luscar, Alberta, the real estate market has been demonstrating a steady growth pattern. The median house price in the region stands at $485,000, which indicates a moderate year-over-year increase of 2.5%. This consistent appreciation in house prices reflects a healthy demand for residential property and may suggest relative market stability.
Apartments in Luscar are also following an upward trend with the median price at $295,000. The year-over-year growth rate for apartments is slightly lower at 1.8% compared to houses. This disparity in growth rates may indicate that houses are in higher demand than apartments or that the apartment market is experiencing a slower rate of price inflation.
The population of Luscar has reached 15,500 and is growing at a rate of 3.3%. Population growth can be a driver of demand for housing, suggesting that the real estate market could continue to experience upward pressure on prices due to increasing demand from a growing population.
Investment Opportunities and Potential in Luscar
Investors looking at Luscar’s real estate market can find potential opportunities especially considering the town’s steady population growth. The consistent increase in housing prices indicates that purchasing residential property in this area could yield capital gains over time.
Traditionally, houses have shown a slightly higher appreciation rate compared to apartments, which might appeal to investors targeting family-sized accommodations or larger properties that could benefit from future price escalations.
However, given that apartments are also appreciating, albeit at a slower pace, they might present an attractive investment opportunity for those looking to enter the market at a lower price point or seeking properties with potentially lower maintenance requirements and higher turnover rates.
Future Market Outlook for Luscar
The future market outlook for Luscar appears cautiously optimistic. With an ongoing population increase of 3.3%, it is likely that the demand for housing will continue to grow. This demographic trend can be expected to exert upward pressure on both house and apartment prices over the long term.
The sustained growth in property values suggests confidence among buyers and investors alike. However, as with any real estate investment, potential changes in economic conditions, interest rates, and regional developments should be monitored closely as they can significantly impact market dynamics.
In conclusion, while current trends and demographic indicators seem favorable for continued growth in Luscar’s real estate market, investors should maintain due diligence and consider both macroeconomic factors and local developments when making investment decisions.
