Skiff, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 Skiff, Alberta, real estate market conditions have demonstrated steady growth, as evidenced by the median house price currently standing at $485,000, marking a 4.2% increase year-over-year. This trend indicates a healthy demand for housing in the area. Similarly, the median apartment price has risen to $295,000, showing a more modest year-over-year growth of 2.5%. These statistics suggest that Skiff’s real estate market is experiencing consistent appreciation, making it an attractive locale for homeowners and investors alike.
Investment Opportunities and Potential
The investment landscape in Skiff is favorable given the ongoing trends. The continual appreciation of property values at a stable pace provides a solid foundation for real estate investment. With houses appreciating at a higher rate than apartments (4.2% vs 2.5%), single-family homes represent particularly compelling opportunities for investors looking for appreciable assets.
Moreover, Skiff’s population has witnessed significant growth at 4.8%, which may lead to increased demand for housing. Investors could capitalize on this demographic shift by investing in residential properties that cater to the needs of this expanding population.
Future Market Outlook
The future market outlook for Skiff remains optimistic. Given the sustained population growth and stable price appreciation rates, demand for housing is projected to remain robust. The consistent performance of both the house and apartment markets suggests that these trends are likely to continue in the near term.
As more individuals and families are attracted to Skiff, Alberta due to its economic opportunities or lifestyle offerings, it is reasonable to expect that the real estate market will continue to thrive. Investors considering long-term holdings could find that current market conditions offer a favorable entry point before potential future escalations in property values.
