Alhambra, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Alhambra, Alberta is currently experiencing steady growth, with the median house price sitting at $485,000, marking a 2.9% increase year-over-year. This incremental rise indicates a stable market that has been resilient in the face of economic fluctuations.
Similarly, the apartment sector is showing a positive trend with the median apartment price at $295,000, which is a 1.8% increment from the previous year. This suggests that smaller residential units are also in demand, possibly driven by first-time homebuyers or those looking for more affordable housing options.
The population of Alhambra stands at 15,500 residents with a notable growth rate of 3.3%. This demographic expansion is indicative of an attractive community for both living and investment purposes as it signals a healthy local economy and potential for future real estate demand.
Investment Opportunities and Potential
Given the steady appreciation in property values, Alhambra offers promising investment opportunities. The consistent growth in median house prices suggests that investments in residential properties are likely to yield positive returns over time. Investors should consider both single-family homes and apartments due to their respective growth trends.
The population increase provides additional motivation for investment as it may lead to higher rental demand. This could be particularly advantageous for investors interested in rental properties or those considering developments that cater to newcomers and growing families.
Future Market Outlook
The future market outlook for Alhambra’s real estate is optimistic. With a robust population growth rate of 3.3%, there will likely be continued demand for housing which could sustain or potentially increase current property value trends. If these demographic and economic conditions persist, investors can expect ongoing stability with potential for moderate capital gains.
While current trends provide a strong foundation for future projections, investors should remain aware of broader economic indicators and regional developments that could influence the market dynamics. Strategic investments based on comprehensive analysis and up-to-date data will be key to leveraging the potential of Alhambra’s real estate market.
