Skyrattler, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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
1. Current Market Conditions and Trends
The real estate market in Skyrattler, Alberta, currently presents a landscape of moderate growth. The median house price in the area is $525,000, with a year-over-year increase of 4%. This indicates steady growth and a healthy demand for detached homes. On the other side, apartments are also experiencing an upward trend, with the median price at $315,000 and a year-over-year growth of 2.5%. These statistics suggest a balanced market where both houses and apartments are steadily appreciating.
The population of Skyrattler has been rising at a rate of 3.3%, which is higher than the national average. This increase in residents is likely contributing to the persistent demand for housing in the region. The inflow of people could be attributed to several factors such as employment opportunities, lifestyle preferences, or educational facilities in the area.
2. Investment Opportunities and Potential
With its consistent population growth and increasing property values, Skyrattler offers promising investment opportunities for both residential and rental markets. The steady rise in property prices reflects a stable investment environment where investors can expect continued appreciation. Rental properties might be particularly appealing due to the influx of new residents who may seek temporary accommodation before purchasing their own homes.
Investors looking into long-term equity growth may find single-family homes an attractive option given their higher appreciation rate of 4% compared to apartments. However, apartments could offer more affordable entry points into the real estate market for new investors or those with less capital.
3. Future Market Outlook
The future market outlook for Skyrattler appears optimistic based on current trends and underlying demographics. If the population continues to grow at its current pace or higher, it will likely sustain the demand for housing and potentially push prices upward across all property types. Moreover, if local economic conditions remain favorable or improve further, this could enhance purchasing power and fuel additional growth in real estate values.
It is important to monitor external economic factors that could impact interest rates or employment levels as they can have significant effects on housing markets. Nonetheless, given Skyrattler’s robust population growth and consistent property value appreciation, the local real estate market seems poised for continued positive performance in the foreseeable future.
