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Rimbey, Alberta Real Estate Market Data

Updated: Nov 2024

House

Median price $485,000
Monthly growth 1.3%
Quarterly trend 4.2%
Stock on market 0.8%

Apartment

Median price $295,000
Monthly growth 1.0%
Quarterly trend 2.5%
Stock on market 1.1%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $420,000
3 bedrooms $485,000
4 bedrooms $575,000

Apartments

Bedrooms Median Price
1 bedrooms $240,000
2 bedrooms $340,000
3 bedrooms $425,000

Demographics

Current Population (2025) 15,000
Previous Population (2020) 14,500
Population Change 3.4%
Total Private Dwellings 6,200
Occupied Private Dwellings 5,700
Population Density (per km²) 1.4
Land Area (km²) 2,500.5

Market Analysis




Rimbey, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

In Rimbey, Alberta, the real estate market is currently experiencing a period of growth. The median house price in the region is at $485,000, which represents a year-over-year increase of 4.2%. This indicates a steady upward trend in housing prices, pointing to a healthy demand for residential properties. Similarly, the median apartment price has also seen an increase, albeit at a slower pace, with a current standing of $295,000 and a growth rate of 2.5% year-over-year.

With a growing population that has risen by 3.4% to approximately 15,000 residents, the market is buoyed by an influx of new inhabitants seeking housing. This population growth can be attributed to factors such as employment opportunities in the area, lifestyle preferences for smaller communities, or regional economic developments.

Investment Opportunities and Potential

Given the steady rise in property values, Rimbey presents attractive investment opportunities for both residential and rental markets. The consistent increase in house prices suggests that purchasing property in this area could yield substantial long-term capital gains for investors. As more people move to Rimbey, demand for rental properties is likely to rise as well, which could generate favorable rental yields.

Investors should note the relatively more significant growth rate in house prices compared to apartments. This disparity may indicate a higher demand for single-family homes and could guide investment strategies towards this market segment. However, apartments offer a lower entry point into the real estate market and might be particularly appealing for first-time investors or those looking to diversify their portfolio with more affordable options.

Future Market Outlook

Looking ahead, the real estate market in Rimbey appears poised for continued growth. The ongoing population increase serves as a foundational driver for housing demand, supporting both price appreciation and rental market expansion. Assuming that current economic conditions hold steady and no major policy changes are introduced that could significantly impact the real estate sector, it is reasonable to project that both house and apartment prices will maintain their upward trajectory.

Investors should keep an eye on local developments that may influence market dynamics, such as infrastructure projects, changes in local employment rates, or shifts in demographic trends. A diversified approach considering various property types and keeping abreast of regional economic indicators will help capitalize on Rimbey’s market potential while mitigating risks.