Altadore, 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 Altadore, Alberta, is currently experiencing steady growth. The median house price in the area stands at $500,000 with a year-over-year price increase of 3.5%. This growth is indicative of a healthy demand for single-family homes in the region. Similarly, the median apartment price has been observed at $300,000, with a slower growth rate of 2.1% year-over-year. These figures suggest that while the apartment market is growing, it’s doing so at a more conservative pace compared to houses.
The population of Altadore has reached approximately 15,000 residents, with an impressive growth rate of 7.1%. This significant demographic expansion is likely contributing to the sustained demand for housing and could be a driving force behind the consistent appreciation in property values observed within the community.
Investment Opportunities and Potential
Investors considering Altadore for real estate opportunities can find potential due to several factors. The steady increase in property values offers a prospect for capital gains over time. Specifically, single-family homes present as a sound investment choice due to their higher appreciation rate. Furthermore, the strong population growth suggests ongoing rental demand, which could benefit investors looking to enter the landlord market or expand their rental property portfolio.
However, although apartments are appreciating at a slower rate than houses, they still represent an attractive entry point for investors due to their lower median price point. Apartments could cater to new residents or smaller households who are either not ready for homeownership or prefer the flexibility that comes with renting.
Future Market Outlook
The future market outlook for Altadore remains positive. Given the robust population growth and consistent property value appreciation rates, it is reasonable to anticipate continued demand for both buying and renting in the area. Should these trends persist, investors and homeowners alike could expect further gradual increases in property values.
Moreover, as population growth typically leads to infrastructure development and enhancements to local amenities, this can also have a knock-on effect on property desirability and value over time. Investors should keep an eye on local development plans and demographic trends as these can provide valuable insights into future hotspots within the Altadore real estate market.
