Radway, 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 (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) | 1.5 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Radway, Alberta is currently characterized by a steady growth in property values. The median house price stands at $500,000, with a positive year-over-year increase of 3.5%. This suggests that the housing market is healthy and properties are appreciating at a moderate pace. Similarly, the apartment sector is also experiencing growth, albeit at a slightly slower rate, with the median apartment price reaching $300,000 and witnessing a 2.1% year-over-year trend.
The population of Radway has grown to 15,000 residents, marking a significant growth rate of 7.1%. This demographic expansion is a key driver for demand in housing, contributing to the steady market conditions we are observing.
Investment Opportunities and Potential
Given the consistent upward trends in property values and robust population growth, Radway presents attractive opportunities for real estate investors. The appreciation rates indicate that investments made in both the housing and apartment sectors can expect solid capital gains over time.
Favorable market conditions are likely to draw more homebuyers and renters to Radway, suggesting that rental properties could provide stable income streams. Investors should take note of the growing community as it may lead to increased demand for various types of real estate, including single-family homes, townhouses, and apartment complexes.
Future Market Outlook
The future outlook for Radway’s real estate market appears optimistic. The combination of steady price appreciation, healthy population growth, and ongoing economic development signals continued demand for housing. If these trends persist, investors and homeowners can expect sustained value growth in their properties.
However, it is important for stakeholders to monitor external economic factors that could impact interest rates or employment levels, as these could affect affordability and subsequently influence the real estate market dynamics. Nonetheless, current indicators point towards a continuing positive trajectory for Radway’s real estate market over the foreseeable future.