Skyrattler, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 2.8% |
Stock on market | 0.9% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.7% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $425,000 |
3 bedrooms | $485,000 |
4 bedrooms | $570,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $335,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,800 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Skyrattler, Alberta, is currently experiencing moderate growth. With a median house price of $485,000 and an upward year-over-year trend of 2.8%, the market is showing signs of steady appreciation. The median apartment price stands at $295,000, with a slightly lower growth trend of 1.7% year-over-year. This indicates that while both segments of the housing market are growing, houses are seeing a marginally faster increase in value compared to apartments.
The population of Skyrattler has reached approximately 15,500 residents, with a robust growth rate of 3.3%. This demographic expansion suggests a healthy demand for housing and can be viewed as a positive signal for the sustainability of the current market trends.
Investment Opportunities and Potential
Considering the current market metrics and demographic trends, Skyrattler presents attractive investment opportunities. The steady climb in property values hints at a resilient market that could offer potential for capital gains over time. Investment in residential properties could be particularly appealing given the population growth, which may drive demand for both rental and owner-occupied housing.
Investors should also note the differential in growth rates between houses and apartments. While houses have shown higher appreciation recently, apartments offer a lower entry price point and may appeal to first-time homebuyers or those looking to downsize. As such, apartments could represent an opportunity for investors seeking to cater to these segments or looking for rental properties with potentially lower vacancy rates due to affordability.
Future Market Outlook
The future real estate market outlook for Skyrattler remains cautiously optimistic. Given the solid population growth and consistent increase in property values, it is reasonable to anticipate that these trends may continue in the near term, barring any unforeseen economic disruptions. The ongoing demand driven by population growth should support both the rental and sales markets.
However, investors and stakeholders should remain vigilant about external factors that could impact the local economy and real estate market. These include potential changes in interest rates, employment patterns, and regional economic developments that could affect consumer confidence and buying power.
In conclusion, while current indicators are positive for Skyrattler’s real estate market, careful monitoring of broader economic conditions is recommended to ensure informed decision-making for prospective investors.