Suffield, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Suffield, Alberta
In Suffield, Alberta, the real estate market is currently experiencing a stable growth phase. The median house price stands at $500,000, which marks a year-over-year increase of 3.5%. This steady rise in house prices indicates a healthy demand for residential properties in the area. Similarly, the median apartment price has reached $300,000, with a slightly lower growth rate of 2.1% over the previous year.
The population of Suffield is approximately 15,000 residents and has seen a significant growth of 7.1%, suggesting an expanding community with increasing housing needs. This demographic expansion is likely contributing to the sustained demand for housing and the consequent upward pressure on property prices.
Investment Opportunities and Potential in Suffield, Alberta
Suffield’s real estate market presents several attractive investment opportunities. Given the consistent upward trend in property values and the vigorous population growth, investors can anticipate continued appreciation in their real estate investments. Single-family homes, given their higher appreciation rate, may offer greater long-term capital gains than apartments.
The 3.5% increase in median house prices suggests that investing in residential properties could be particularly promising. Additionally, with a strong rental market implied by population growth, investors might also explore purchasing apartments to cater to individuals or smaller households who prefer or require rental accommodations.
Future Market Outlook for Suffield, Alberta
Looking forward, the Suffield real estate market shows promise for sustained growth. The strong population increase is likely to continue fuelling demand for housing in both purchase and rental sectors. If current trends persist, future property investors could benefit from both capital appreciation and potential rental income streams.
However, it is important for investors to consider local economic factors and monitor any potential changes in government housing policies that could impact the market dynamics. Staying informed about regional developments will be key to making well-advised investment decisions in Suffield’s evolving real estate landscape.
