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 | $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 Priddis, Alberta, is currently experiencing a period of steady growth. With a median house price sitting at $500,000, the market has witnessed a year-over-year increase of 3.5%. This upward trend suggests robust demand and a healthy economy driving property values. The market for apartments is also on the rise, with the median apartment price now at $300,000, reflecting a year-over-year growth of 2.1%. Such consistent growth indicates a well-balanced market that caters to various segments of buyers.
The population in Priddis stands at 15,000 residents, which has grown by an impressive 7.1%. This substantial population increase can be partly attributed to Priddis’s appeal to individuals and families seeking a tranquil lifestyle away from urban centers while still benefitting from proximity to amenities and employment opportunities in nearby Calgary.
Investment Opportunities and Potential
Given the current real estate trends and demographic dynamics, Priddis presents several attractive investment opportunities. The continuous rise in property values coupled with significant population growth signals strong potential for rental demand. Investors may find lucrative opportunities in single-family homes due to their higher appreciation rate of 3.5%. Meanwhile, apartments could serve as an excellent entry point for those looking to capitalize on a more affordable segment with a growing demand reflected by a 2.1% increase in prices.
The influx of new residents may also create opportunities for investment in residential development projects or diversification into commercial real estate aimed at providing services to the growing community. Local infrastructure improvements and community developments could further boost property values and enhance investment returns over time.
Future Market Outlook
The future outlook for Priddis’s real estate market appears optimistic. The persistent population growth is likely to sustain demand for housing, potentially leading to continued appreciation in property values. The consistent rise in median home prices indicates a stable environment that should reassure both investors and homeowners about the market’s potential for sustained growth.
If current trends persist, investors could expect ongoing appreciation in both housing and apartment sectors. However, it is essential to monitor economic conditions closely, as external factors such as interest rate changes, employment rates in nearby Calgary, and national economic health can all impact local real estate markets.
In conclusion, Priddis offers promising prospects for those looking to invest in real estate with its growing population and consistent property value appreciation. Nonetheless, investors should remain vigilant about broader economic indicators while considering local development plans that could affect future market conditions.
