Maycroft, 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 in Maycroft, Alberta
As of the latest data, the real estate market in Maycroft, Alberta, is experiencing stable growth. The median house price in the area is currently set at $500,000, which represents a year-over-year increase of 3.5%. This steady incline in housing prices indicates a healthy demand that is well-aligned with national trends, reflecting both the desirability of the region and ongoing economic stability.
In parallel, the apartment sector has also seen growth with the median apartment price reaching $300,000, marking a 2.1% rise from the previous year. This more modest increase suggests that while apartments are appreciating in value, they remain accessible to a broader segment of buyers or investors looking for more affordable entry points into the property market.
The population of Maycroft has grown by an impressive 7.1% which further supports the strong market conditions as it signifies an increasing demand for housing driven by demographic shifts. This growth can be attributed to various factors such as employment opportunities, quality of life, and Maycroft’s appeal to both young professionals and families alike.
Investment Opportunities and Potential in Maycroft
The current trajectory of growth within Maycroft’s real estate market presents numerous opportunities for investors. The consistent appreciation in property values across both houses and apartments suggests that investments made now have good potential for capital gains in the long term. Moreover, the significant population growth implies a rising need for rental accommodations, potentially leading to favorable rental yields for property owners.
Given that houses are experiencing a higher rate of price increase compared to apartments, investors might consider focusing on single-family homes or larger residential properties for better appreciation potential. However, apartments should not be overlooked as they offer a lower barrier to entry and may attract a different tenant demographic seeking affordability and convenience.
Future Market Outlook for Maycroft
The future market outlook for Maycroft remains optimistic based on current trends and available data. The consistent growth in property values combined with robust population expansion indicates that demand for housing will continue to rise. Barring any unforeseen economic disruptions or changes in local conditions, we can anticipate that these trends will persist.
Investors should closely monitor factors such as interest rates, local employment rates, and any governmental policy changes impacting property ownership or rental markets as they can influence future market dynamics. Nevertheless, if Maycroft continues on its current path of economic development and maintains its appeal to incoming residents, the local real estate market is poised to remain vigorous and present enduring opportunities for investment and growth.
