Redcliff, 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 Redcliff, Alberta, is currently experiencing a steady growth trend. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This growth indicates a stable demand for housing in the region. Similarly, the apartment sector has seen an increase with the median price at $300,000, following a gentler upward trend of 2.1% year-over-year.
With a population of 15,000 residents and a significant population growth rate of 7.1%, Redcliff’s real estate market is buoyed by an expanding demographic that drives housing demand. The consistent price appreciation suggests that the market has not reached saturation and remains attractive for both homebuyers and investors.
Investment Opportunities and Potential
The robust population growth combined with steady price appreciation underscores notable investment opportunities within Redcliff’s real estate market. The continuous influx of residents creates a persistent demand for both ownership and rental properties. Investors looking to enter the market can expect potential in single-family homes due to their higher appreciation rate compared to apartments.
The apartment sector, while growing at a slower pace, presents an opportunity for investors focused on rental income streams. Given the lower entry cost relative to houses, apartments offer accessibility to a broader range of investors. Moreover, as housing affordability becomes an increasing concern with rising prices, apartments may gain popularity among new entrants to the housing market.
Future Market Outlook
The future outlook for Redcliff’s real estate market appears promising given current trends and local dynamics. Assuming no major economic disruptions, the sustained population growth will likely continue to fuel demand for housing. As long as this demographic trend holds true, both the house and apartment markets should maintain their upward trajectories.
Investors and homebuyers can remain cautiously optimistic about property value appreciation in the foreseeable future. However, potential investors should also consider economic diversification efforts within Redcliff and surrounding areas that may influence long-term sustainability of property values and rental rates.
In conclusion, Redcliff’s real estate market presents healthy prospects for those looking to invest or purchase property in the area. Continuous monitoring of population trends and economic factors will be crucial in making informed decisions regarding real estate investments in this region.
