Alhambra, 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 Alhambra, Alberta is currently experiencing moderate growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%. This indicates a stable upward trend in the housing sector. Similarly, the apartment market is seeing a more modest rise in prices, with the median apartment price reaching $300,000 and a 2.1% year-over-year increase. The population of Alhambra has seen significant growth at a rate of 7.1%, suggesting an increasing demand for housing due to the growing number of residents.
Investment Opportunities and Potential
The steady growth in property values combined with the rising population indicates that Alhambra presents viable investment opportunities. The consistent increase in house prices may attract investors looking for long-term capital gains. With apartments experiencing a slower growth rate compared to houses, there could be potential for investors to enter the market at a more accessible price point while still benefiting from gradual appreciation. Additionally, the growing population may lead to higher demand for rental properties, providing opportunities for rental income investments.
Future Market Outlook
The future of Alhambra’s real estate market looks promising based on the current trends and demographic changes. Assuming the continuation of current economic conditions and population growth rates, demand for housing is likely to remain strong. This could support ongoing increases in property values over time. However, investors and homebuyers should consider potential economic variables that might affect interest rates and housing affordability, which could alter the trajectory of the real estate market.
