Tuscany, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $510,000 |
Monthly growth | 1.3% |
Quarterly trend | 4.0% |
Stock on market | 0.8% |
Apartment
Median price | $305,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.5% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $425,000 |
3 bedrooms | $510,000 |
4 bedrooms | $620,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $260,000 |
2 bedrooms | $360,000 |
3 bedrooms | $460,000 |
Demographics
Current Population (2025) | 15,200 |
Previous Population (2020) | 14,500 |
Population Change | 4.8% |
Total Private Dwellings | 6,100 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Tuscany, Alberta
The real estate market in Tuscany, Alberta is experiencing a period of steady growth. The median house price stands at $510,000, which represents a year-over-year increase of 4%. This consistent rise in housing prices points to a healthy demand for residential properties within the community. The market for apartments is also showing positive momentum, with a median price of $305,000 and an annual appreciation rate of 2.5%. These trends suggest that the real estate market in Tuscany is robust, attracting interest from both homeowners and investors alike.
Additionally, the area’s population has grown by an impressive 4.8%, indicating that Tuscany is becoming an increasingly desirable location to live. This influx of new residents is likely contributing to the demand for housing and helping to propel the upward trend in property values.
Investment Opportunities and Potential in Tuscany
With a growing population and property values on the rise, Tuscany presents attractive investment opportunities. The steady increase in median house prices suggests that purchasing residential property could yield significant returns over time. Moreover, the lower median apartment price combined with its growth trend indicates potential for entry-level investment or opportunities for those looking to invest in rental properties to serve the increasing population.
The diverse range of property values—from more affordable apartments to higher-priced houses—allows investors with varying budgets to enter the market. Given the area’s population growth and current economic conditions, rental demand is expected to remain strong, providing investors with stable rental income streams alongside potential capital appreciation.
Future Market Outlook for Tuscany
The outlook for Tuscany’s real estate market appears optimistic. The continued population growth will likely sustain demand for housing, both for purchase and rent. If these demographic trends continue along with current economic conditions, it can be expected that both house and apartment prices may see further increases.
The ongoing development of amenities and infrastructure accompanying population growth could also enhance the appeal of Tuscany as a place to live, further fueling the real estate market. Investors looking to capitalize on long-term growth trends should consider Tuscany’s real estate market as a viable option.
In conclusion, while no market can be predicted with absolute certainty, current indicators point towards sustained growth in Tuscany’s real estate sector. With strategic investment choices based on thorough research and local expertise, stakeholders can potentially reap substantial benefits from this vibrant housing market.