Rycroft, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 3.0% |
Stock on market | 0.7% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $580,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $330,000 |
3 bedrooms | $430,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 15,000 |
Population Change | 1.3% |
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
The real estate market in Rycroft, Alberta currently exhibits a state of moderate growth. With the median house price standing at $485,000 and experiencing a steady year-over-year increase of 3%, the market is showing signs of healthy demand. Similarly, apartment prices have seen a more modest uptick with the median value at $295,000 and a year-over-year growth of 1.5%.
This growth can be partly attributed to Rycroft’s stable population size of 15,200 residents, which has been increasing at an annual rate of 1.33%. This consistent increase in population suggests a sustained demand for housing in the region.
Investment Opportunities and Potential
The investment landscape in Rycroft presents opportunities particularly for those looking at long-term capital gains. The steady increase in property values suggests that investments made now could benefit from continued appreciation. Single-family homes, given their higher growth rate, may offer better potential for investors seeking appreciable assets over apartments.
Given the positive population growth trend, there is also potential for rental investments to cater to newcomers who may not be immediately purchasing homes upon arrival. The demand for rental properties could therefore see an uptick correlating with population increases.
Future Market Outlook
Moving forward, the outlook for Rycroft’s real estate market appears cautiously optimistic. Assuming current trends continue, property values are likely to maintain a steady climb. Factors such as economic stability within Alberta, local employment rates, and broader national economic conditions will play significant roles in shaping the future market trajectory.
However, investors should also remain vigilant of any shifts in local industry or policy changes that could affect the housing market dynamics. Keeping abreast of both regional and national economic indicators will be key in forecasting any significant changes to the future real estate landscape in Rycroft.