Tuscany, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| 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 | $590,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,100 |
| 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 Tuscany, Alberta is currently experiencing stable growth, with the median house price standing at $485,000, reflecting a year-over-year increase of 2.8%. This indicates a healthy demand for residential properties in the area. Similarly, the apartment market is also showing positive movement with a more modest year-over-year price increase of 1.9%, bringing the median apartment price to $295,000.
The population of Tuscany has grown by 3.3%, boosting the total to approximately 15,500 residents. This demographic expansion supports the ongoing demand for housing and suggests that the upward trends in property values are likely to continue as the community grows.
2. Investment Opportunities and Potential
In light of Tuscany’s consistent population growth and property value appreciation, investment opportunities appear promising, especially in residential real estate. Single-family homes, given their higher year-over-year price increase, present a particularly attractive option for long-term capital gains.
Apartments offer a different kind of opportunity; their lower entry cost compared to houses makes them accessible investments with potential for both rental income and value appreciation. The steady increase in apartment prices indicates that this segment is also poised for sustainable growth.
Investors should consider both current market conditions and demographic trends when assessing potential investments in Tuscany’s real estate market.
3. Future Market Outlook
The real estate market in Tuscany is expected to remain robust in the foreseeable future. Continued population growth will likely keep demand for housing high, supporting further property value increases. The consistent upward trend in house and apartment prices suggests a stable investment environment.
The regional economy’s health and any changes in interest rates will factor into future market dynamics; however, barring significant economic shifts, Tuscany’s real estate market is positioned to maintain its positive trajectory.
Investors should monitor key indicators such as employment rates, new housing starts, and migration patterns into Tuscany to stay informed on potential fluctuations that could affect their investment decisions.
