Pickardville, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Pickardville, Alberta is currently exhibiting steady growth. The median house price in the region is $500,000, which represents a year-over-year increase of 3.5%. This growth rate indicates a healthy and appreciating housing market. Similarly, the median apartment price stands at $300,000, showing a more modest year-over-year growth of 2.1%. These trends suggest that the market is accessible to a range of buyers, including those looking for single-family homes as well as those interested in apartment living.
The population of Pickardville has experienced significant growth at a rate of 7.1%, currently standing at 15,000 residents. This demographic expansion is a positive indicator for the real estate market as it often leads to increased demand for housing.
Investment Opportunities and Potential
The ongoing population increase coupled with consistent property value appreciation makes Pickardville an attractive location for real estate investment. Single-family homes show robust price growth potential, and this asset class may be particularly appealing to investors seeking long-term capital gains.
Apartments present an opportunity for investors looking for lower entry points into the real estate market with a steady income stream from rentals. The rising population suggests that there will be continued demand for rental properties. However, the slower growth rate of apartment prices compared to houses indicates that investors may see more gradual equity build-up in this sector.
Future Market Outlook
The future outlook for Pickardville’s real estate market appears positive. With ongoing population growth and increasing housing demand, it is likely that the upward trends in property values will continue. However, it is important for investors and potential homeowners to monitor economic factors such as employment rates, interest rates, and local industry performance as these can all impact future market conditions.
In conclusion, Pickardville presents a promising market for both residential living and investment purposes. Its current trajectory suggests continued opportunity for capital appreciation and rental income generation. Investors and homebuyers should consider entering the market while conditions are favorable and keep an eye on economic indicators that could affect future performance.
