Queenstown, 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 Queenstown, Alberta is currently experiencing a steady growth pattern. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This uptick indicates a healthy demand for single-family homes within the area, reflecting consumer confidence and a robust local economy.
In contrast, the apartment sector shows a more moderate growth rate, with the median price of apartments at $300,000 and a year-over-year trend of 2.1%. This slower pace suggests that while the demand for more affordable housing options like apartments is present, it may not be as aggressive as that for houses.
The population of Queenstown has seen a significant increase of 7.1%, now reaching approximately 15,000 residents. This growth can be attributed to Queenstown’s economic opportunities and lifestyle appeal, which in turn drives the real estate market forward.
Investment Opportunities and Potential
The current trends suggest that Queenstown possesses notable investment potential, especially in the single-family home sector. With house prices appreciating steadily, investors stand to gain from capital gains over time. Additionally, the significant population growth presents an opportunity for rental property investments to cater to newcomers who may be seeking temporary or transitional living arrangements.
Apartment investments also offer potential due to their more accessible price point and appeal to individuals such as young professionals or smaller families. While the appreciation rate is lower than that of houses, it still presents a viable option for those looking to enter the real estate market or diversify their portfolio with more affordable properties.
Future Market Outlook
The future outlook for Queenstown’s real estate market remains positive. The steady rise in population is likely to continue driving housing demand upwards. Given the current growth patterns in both house and apartment prices, investors and homeowners can remain cautiously optimistic about future appreciation.
However, this forecast is contingent on various factors including economic stability, interest rates, and local job market conditions. It is advisable for investors and potential buyers to keep abreast of regional developments that could impact the real estate landscape in Queenstown.
In conclusion, Queenstown offers a promising environment for real estate investment with a strong track record of growth and a positive outlook on future developments. Stakeholders should monitor key indicators closely to make informed decisions in this dynamic market.
