Raymond, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.3% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.5% |
| 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
In Raymond, Alberta, the real estate market has been showing continuous growth with the median house price standing at $495,000, reflecting a year-over-year increase of 3.3%. This steady uptrend indicates a healthy demand for housing in the area. On the other hand, the median apartment price is currently at $295,000, having grown at a slightly slower pace of 2% year-over-year. These trends suggest that while single-family homes are experiencing a higher rate of appreciation, apartments are also gaining value albeit at a more moderate rate.
The population of Raymond has reached approximately 15,000 residents, with a notable growth rate of 3.45%. This demographic expansion contributes to the pressure on housing demand, potentially leading to further price increases if supply does not keep pace.
2. Investment Opportunities and Potential
The investment potential in Raymond is underscored by its consistent population growth and the overall upward trajectory in property values. Investors looking to capitalize on long-term appreciation may find single-family homes particularly attractive due to their higher annual price increase. The 3.3% rise in median house prices suggests that this segment has robust investment potential for capital gains.
Apartments present an alternative investment opportunity with a moderate 2% growth rate in prices. They may be particularly appealing for investors seeking entry into the real estate market at a lower price point or aiming to cater to individuals or smaller households who prefer apartment living.
Given the ongoing demand for housing driven by population growth, investing in rental properties could be another viable strategy. The influx of new residents may lead to increased rental demand, potentially providing investors with steady rental income and opportunities for value appreciation over time.
3. Future Market Outlook
The future outlook for Raymond’s real estate market appears positive based on current trends and demographic data. The sustained population increase suggests that demand for housing will continue to grow, which could maintain or even accelerate the current pace of price appreciation across both housing types.
If economic conditions remain favorable and local employment opportunities expand alongside the population, it is likely that the real estate market in Raymond will remain robust. However, prospective investors should monitor factors such as interest rates, local economic policies, and infrastructural developments as they can significantly impact future market dynamics.
In conclusion, Raymond’s real estate market demonstrates strong fundamentals with consistent price growth and demographic support. While careful analysis of individual investments is necessary, the overall trend points toward ongoing opportunities for real estate appreciation and investment potential.
