Tofield, 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
The real estate market in Tofield, Alberta, is currently experiencing steady growth. The median house price stands at $500,000, which marks a year-over-year increase of 3.5%. This indicates a healthy upward trend in property values for the region, reflecting a robust demand for single-family homes. On the other hand, the median price for apartments is $300,000, with a slightly lower year-over-year increase of 2.1%. This suggests that the market for apartments is also growing, albeit at a more moderate pace.
The population of Tofield has reached approximately 15,000 residents, with a significant growth rate of 7.1%. This rapid increase in population is likely contributing to the demand for housing and helping to drive up property values.
Investment Opportunities and Potential
Given the steady growth in property values and the substantial population increase, Tofield presents attractive opportunities for real estate investors. The consistent rise in house prices indicates that investments in residential properties have the potential to yield solid returns over time. Moreover, the expanding population suggests a growing rental market, which could benefit investors focused on income-generating properties.
The relative affordability of apartments compared to houses may appeal to first-time homebuyers or investors looking to enter the market at a lower price point. With apartment prices increasing at a slower rate, investors might find these types of properties particularly appealing for long-term capital appreciation.
Future Market Outlook
The future outlook for Tofield’s real estate market remains optimistic given current trends and demographic indicators. Assuming that economic conditions remain favorable and the population continues to grow at its current pace, demand for housing is expected to remain strong. This could result in continued appreciation of property values across both houses and apartments.
Investors should monitor local economic developments and infrastructure projects that could further enhance the value of properties in Tofield. Additionally, it will be important to keep an eye on any changes in mortgage rates or government housing policies that could impact buyers’ purchasing power and influence overall market dynamics.
