Redcliff, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $495,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.2% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.3% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $495,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $440,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,500 |
Population Change | 4.8% |
Total Private Dwellings | 6,100 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Redcliff, Alberta, currently presents a stable growth environment. The median house price stands at $495,000, reflecting a year-over-year increase of 3.2%. This gradual appreciation indicates a healthy demand for single-family homes within the region. Similarly, the median apartment price is $295,000, which has experienced a slightly lower year-over-year growth rate of 2.3%. The consistency in price trends for both houses and apartments suggests a balanced market without any abrupt fluctuations.
The town’s population has reached approximately 15,200 residents, with a robust population growth rate of 4.8%. Such demographic expansion is often associated with increased housing demand, which may continue to support property value appreciation in the foreseeable future.
Investment Opportunities and Potential
The positive growth trends in Redcliff’s real estate market point towards promising investment opportunities. Single-family homes, given their higher appreciation rate, appear particularly attractive for long-term investments. The ongoing population growth also hints at potential rental market expansion, creating opportunities for investors seeking steady rental income streams.
Apartments represent an alternative investment option that could cater to young professionals or smaller households. With their lower median price point and consistent appreciation trend, apartments could be suitable for investors looking to enter the market at a more accessible level or diversify their real estate portfolios.
Future Market Outlook
Looking ahead, Redcliff’s real estate market is set to benefit from the continuous influx of new residents. If current population and economic trends persist, housing demand is likely to maintain its upward trajectory. Consequently, both house and apartment values are expected to experience sustained growth.
The town’s commitment to economic development and community amenities may further enhance its attractiveness as a residential destination, potentially leading to an even stronger real estate market performance. Investors should monitor local economic indicators and infrastructure developments closely as they can significantly impact future property values and investment returns.
In summary, Redcliff offers a stable investment environment with potential for capital appreciation and solid rental prospects due to its growing population and balanced property value increase. Caution should always be exercised by conducting thorough due diligence and considering professional advice before making any investment decisions.