Priddis, 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 | $450,000 |
3 bedrooms | $500,000 |
4 bedrooms | $600,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $350,000 |
3 bedrooms | $440,000 |
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) | 6.0 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Priddis, Alberta, is currently experiencing a modest growth pattern. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This steady appreciation indicates a healthy demand for single-family homes in the area. On the other hand, the median apartment price is $300,000 with a slightly lower growth rate of 2.1% year-over-year.
The population of Priddis has seen a significant growth of 7.1%, suggesting an influx of new residents and potential homebuyers. This demographic change likely contributes to the stable demand in the housing market. The combination of population growth and consistent price appreciation points to a balanced market that is neither overly competitive nor saturated with inventory.
Investment Opportunities and Potential
Given the current market conditions, Priddis offers attractive investment opportunities for both residential properties and rental units. The steady increase in property values suggests that investing in homes could yield profitable returns over time. Moreover, the growing population may lead to heightened rental demand, particularly for apartments priced at $300,000. Investors might consider this segment as a potentially lucrative income-generating asset.
The existing trends also indicate room for development projects catered to newcomers who contribute to the population rise. Real estate investors can look into constructing new housing units or refurbishing existing ones to cater to this burgeoning market segment.
Future Market Outlook
The future outlook for Priddis’s real estate market appears promising based on current trends. If the population continues to grow at the reported rate of 7.1%, sustained demand for housing could drive further price increases, albeit at a stable and manageable pace. This prospective demand bodes well for both home value appreciation and rental market strength.
An ongoing consideration for future market outlook is economic factors beyond local demographics, such as interest rates and employment opportunities within Priddis and surrounding areas. As long as these remain favorable, they should support continued growth in the real estate sector.
In conclusion, Priddis presents itself as a burgeoning market with reasonable investment prospects due to its steady growth in property values and increasing population. Investors should monitor local developments closely to identify precise timing for entry or expansion within this promising Alberta real estate market.