Trochu, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $550,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.5% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.8 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Trochu, Alberta, has been experiencing steady growth. The median house price currently stands at CAD $485,000, which represents a 3.2% increase year-over-year. This consistent rise indicates a healthy demand for housing in the area. Similarly, the median apartment price has seen a 1.9% increase from the previous year, suggesting that smaller residential units are also in demand. These trends point to a market that is gradually appreciating, likely driven by several factors including local economic conditions and demographic changes.
Investment Opportunities and Potential
With a population of 15,000 residents that is growing at an annual rate of 3.45%, Trochu is on an upward trajectory in terms of expansion and development. This presents significant investment opportunities, particularly in residential properties. The steady price appreciation of both houses and apartments indicates that investments made now could yield favorable returns as the market continues to grow.
Given the population growth rate, there is potential for increased demand for rental properties, making it an attractive option for real estate investors looking to enter the landlord market or expand their portfolio. Additionally, the introduction of new infrastructure and amenities to cater to this growing population may lead to appreciation in property values over time.
Future Market Outlook
The future outlook for Trochu’s real estate market remains optimistic. The consistent growth in population suggests that there will be a sustained demand for housing in the near future. Moreover, if current trends persist, both house and apartment prices are likely to continue their gradual ascent.
As more people move into the area attracted by employment opportunities or lifestyle changes, it is reasonable to expect that this will fuel further development within the community. This could include new residential projects and enhancements to local infrastructure which would likely have a positive impact on property values.
The combination of positive demographic trends, ongoing property value appreciation, and potential for new development supports a favorable market outlook for Trochu. Investors and stakeholders should monitor key indicators closely as they navigate through this dynamic market space.
