Rycroft, 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 real estate market in Rycroft, Alberta is currently experiencing consistent growth. With a median house price of $500,000 and an appreciating trend of 3.5% year-over-year, the market is showing healthy demand for single-family homes. Similarly, the apartment sector is also witnessing growth with a median price point of $300,000 and a 2.1% increase year-over-year. The population of Rycroft stands at 15,000 and has shown a robust growth rate of 7.1%. This demographic expansion suggests an ongoing need for housing and potential upward pressure on real estate prices as supply strives to meet demand.
Investment Opportunities and Potential
For investors considering the Rycroft real estate market, there are promising opportunities for both short-term gains and long-term appreciation. The steady increase in property values across both houses and apartments indicates a stable investment environment. Given the population growth rate, there is potential for rental investments to yield positive cash flows due to increased demand for housing options. Additionally, new developments could be incentivized by the growing need for accommodation in the area, providing opportunities for developers and investors alike to capitalize on this upward trend.
Future Market Outlook
The future outlook for Rycroft’s real estate market remains optimistic based on the current trends and demographic indicators. Assuming consistent economic conditions, the sustained population growth is likely to continue driving demand for housing. With house prices having risen by 3.5% and apartment prices by 2.1%, we can anticipate further moderate price increases in the coming years assuming no major economic disruptions occur. Investors should monitor local economic developments closely, as they will play a critical role in shaping the long-term performance of the real estate market in Rycroft.
