Rumsey, 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 | 2.5% |
| 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 | $320,000 |
| 3 bedrooms | $400,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Rumsey, Alberta
The real estate market in Rumsey, Alberta is currently experiencing a steady growth pattern. With a median house price of $495,000, the market has seen an appreciation of 3.2% year-over-year. This indicates a stable and progressively appreciating housing market. In the apartment sector, the median price stands at $295,000 with a slightly lower appreciation rate of 2.5% year-over-year. The consistent growth in property values suggests that the demand for housing remains strong despite any external economic pressures.
Rumsey’s population of 15,200 is on an upward trajectory with a growth rate of 2.7%. This increase in residents is creating a sustained demand for housing which is likely contributing to the ongoing rise in property prices. The current market conditions are characterized by gradual and stable price increases which are beneficial for homeowners and investors alike.
Investment Opportunities and Potential
Given the steady increase in property values and population growth, Rumsey represents an attractive opportunity for real estate investors. The consistent rise in median house prices reflects a healthy investment environment with reasonable expectations for capital gains over time. Moreover, the relatively lower median price for apartments compared to houses presents an accessible entry point for investors looking to capitalize on rental income or smaller-scale investment opportunities.
The demographic trends hint at potential for both residential development and rental market expansion as more people move into the area seeking housing. Investors might also consider exploring commercial real estate investments due to increased consumer spending power within a growing population.
Future Market Outlook
The future market outlook for Rumsey, Alberta remains optimistic based on current trends and data. Population growth is expected to continue driving demand for housing which could lead to sustained or potentially increased rates of property value appreciation. Assuming no significant changes in economic conditions or drastic shifts in supply, both the housing and apartment markets should maintain their trajectories.
Considering the existing growth patterns, long-term investments in Rumsey’s real estate appear promising. However, investors should be mindful of broader economic indicators and local development plans which may affect future market conditions. It will be important to monitor factors such as employment rates, infrastructure developments, and interest rates which can all influence the real estate landscape.
In conclusion, Rumsey offers solid opportunities for investors seeking stable growth and those interested in tapping into an expanding regional market backed by robust population increases.
