Pollockville, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $510,000 |
| Monthly growth | 1.4% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $510,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 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
1. Current Market Conditions and Trends
The real estate market in Pollockville, Alberta is currently experiencing steady growth. The median house price stands at $510,000, reflecting a year-over-year increase of 4%. This growth indicates a healthy demand for residential properties in the area. Similarly, apartments have seen an appreciation in value, with the median apartment price now at $295,000, increasing at a slightly slower pace with a 1.9% year-over-year trend.
The population of Pollockville has grown to approximately 15,500, showing a robust growth rate of 3.3%. This demographic expansion is likely contributing to the sustained demand for housing, thus supporting the observed market trends.
2. Investment Opportunities and Potential
Given the steady increase in property values and consistent population growth, Pollockville presents several attractive investment opportunities. The real estate market here offers potential for both capital appreciation and rental income. Investors can take advantage of the higher growth rate in house prices to invest in single-family homes or consider the more modestly appreciating apartment sector that may cater to individuals or small families seeking rental accommodations.
The strong population growth suggests that there will continue to be an influx of residents needing housing, which could keep vacancy rates low and maintain rental yields for investors. Additionally, with economic stability, these trends are likely to persist, making the local real estate market a potentially lucrative investment.
3. Future Market Outlook
The future outlook for Pollockville’s real estate market appears positive. The consistent upward trend in house and apartment prices coupled with sustained population growth suggests that demand for housing will remain strong. As long as economic conditions in Alberta support job creation and income growth, the housing market should continue to thrive.
In conclusion, careful monitoring of economic indicators and ongoing investments in infrastructure and community services will be critical to maintaining the health and attractiveness of Pollockville’s real estate market.
