Ryley, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $510,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.7% |
Apartment
Median price | $290,000 |
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 | $510,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $340,000 |
3 bedrooms | $450,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
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 Ryley, Alberta, is currently experiencing steady growth. The median house price stands at $510,000, which reflects a year-over-year increase of 4%. This consistent rise indicates a healthy demand for housing in the area. Meanwhile, the median apartment price is slightly lower at $290,000, with a slower yet positive year-over-year growth of 2.5%. The growth in apartment prices suggests that smaller housing units are also in demand, albeit at a more moderate pace.
The population of Ryley has reached 15,500 residents and is growing at a rate of 3.3% annually. This demographic trend is contributing to the demand for housing and can be seen as a driving factor behind the current market conditions. The robust population increase indicates that Ryley is an attractive location for new residents, which may lead to sustained pressure on housing supply and could continue pushing prices upward.
Investment Opportunities and Potential
The current trajectory of the Ryley real estate market presents several investment opportunities. For investors looking to enter the housing market, the steady appreciation in house prices could mean significant long-term gains. The modest but consistent increase in apartment prices also provides opportunities for those looking to invest in properties with lower initial capital requirements.
Given the ongoing population growth, rental properties may offer potential for stable rental income streams. As the local economy grows and attracts more residents, rental demand is likely to remain strong, supporting both occupancy rates and rental yields. Investors may find particular potential in multi-family dwellings or developments aimed at accommodating incoming residents.
Future Market Outlook
The outlook for Ryley’s real estate market remains optimistic based on current trends and data. Assuming that both the population growth and economic conditions maintain their positive momentum, it is reasonable to expect sustained growth in property values over the near term. The 4% year-over-year increase in house prices suggests that there is confidence in the market’s stability and potential for continued appreciation.
However, as with any investment, it is essential to consider external factors such as economic policies, interest rates changes, and global economic conditions that could influence local market dynamics. Investors should monitor these broader factors alongside local trends to make informed decisions.
In conclusion, Ryley’s real estate market appears poised for continued growth given its current trajectory. While no market is without risk, careful analysis of trends and data suggests that there are noteworthy opportunities for investors considering this Alberta community.