Rowley, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 current real estate market in Rowley, Alberta, is showing steady growth. The median house price in the region stands at $500,000, with a year-over-year increase of 3.5%. This reflects a healthy demand for single-family homes. Meanwhile, apartments are more affordable with a median price of $300,000, growing at a slightly slower pace with a 2.1% year-over-year increment.
The population of Rowley is 15,000, which has expanded by 7.1% recently. This significant growth indicates an influx of new residents and potential homebuyers or renters to the area, which contributes to the robustness of the housing market. The sustained population increase is likely fueling demand for both ownership and rental properties.
Investment Opportunities and Potential
Gauging by the population surge and positive price trends, Rowley’s real estate market presents attractive investment opportunities. Investors should note that the consistent rise in median house prices suggests that purchasing residential properties could yield profitable returns through both capital appreciation and rental income.
Apartments offer an alternative entry point for investors due to their lower median price point. The slower growth rate in apartment prices may appeal to investors seeking long-term holding strategies, particularly if rental demand continues to rise alongside population growth.
Developers might also find potential in constructing new housing units to meet the increasing demand. Given the current trends, there could be opportunities for both single-family homes and multi-residential buildings like apartments or condos.
Future Market Outlook
The future outlook for the Rowley real estate market remains optimistic. The ongoing population growth of 7.1% suggests sustained demand for housing will continue, potentially pushing property values higher over time.
If the current trends persist, investors can expect a continued modest rise in property prices. For homeowners and investors alike, this could mean further gains in equity and investment value over the coming years. However, it’s essential to consider economic factors such as employment rates, interest rates, and regional development plans as they can significantly influence market dynamics.
In conclusion, while potential risks should not be overlooked, Rowley’s real estate market currently presents a promising landscape for investment and growth based on its performance and demographic trends.
