Armada, 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
In Armada, Alberta, the real estate market is currently experiencing steady growth. The median house price in the area is $500,000, with a year-over-year increase of 3.5%. This suggests that the housing market is healthy and appreciating at a moderate pace. Apartments in Armada are also seeing positive growth, with a median price of $300,000 and an annual appreciation rate of 2.1%. This is indicative of a stable market that appeals to both homebuyers and investors.
The population of Armada has reached approximately 15,000 residents with a robust growth rate of 7.1%. This surge in population is likely contributing to the demand for housing and can be seen as a driving factor behind the real estate market’s current trends.
Investment Opportunities and Potential
The consistent growth in property values, coupled with the significant rise in population, positions Armada as an attractive locale for real estate investment. The steady appreciation in house prices points to a potentially lucrative opportunity for long-term capital gains. Similarly, apartments offering a slightly lower appreciation rate still present an appealing option for investors looking to enter the market at a more accessible price point.
Investors may also consider the rental market within Armada. Given the population increase, there is likely a corresponding rise in demand for rental properties. This could lead to favorable rental yields and low vacancy rates for landlords, enhancing the overall investment potential of this market.
Future Market Outlook
The future outlook for the Armada real estate market appears optimistic. The ongoing population growth suggests a sustained demand for both housing and rental properties. Assuming no major economic disruptions occur, one can anticipate that the housing market will continue to grow at a similar or potentially increased rate due to heightened demand.
The local economy’s health and any future infrastructure or development projects could further influence property values positively. Investors and homebuyers should monitor such developments closely as they can provide early signals of accelerated market growth or emerging hotspots within Armada.
