Armada, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| 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 | $350,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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 Armada, Alberta, is currently experiencing stable growth. With a median house price of $485,000, the market has seen a year-over-year increase of 3.2%. This indicates a healthy demand for detached homes in the area. Similarly, apartments are also witnessing an upward trend with a median price of $295,000 and a 1.8% increase over the past year.
The population of Armada stands at 15,200, which has grown by 4.8%. This significant population growth is likely contributing to the rising demand for housing in the area. The current trends suggest that the market is leaning towards a seller’s market with steadily increasing prices due to this growing demand.
Investment Opportunities and Potential
Given the steady increase in property values and the robust population growth, Armada presents several attractive investment opportunities. For investors looking at long-term capital gains, purchasing residential properties could be promising due to the consistent appreciation in home values.
For those interested in rental properties, the strong population growth suggests there may be an ongoing demand for rental accommodations. Investors can potentially benefit from both rental income and property value appreciation over time. The slower growth rate in apartment prices compared to houses suggests that apartments might offer more affordable entry points for real estate investors.
Future Market Outlook
The future outlook for Armada’s real estate market remains positive. The sustained population growth indicates that there will likely be continued demand for housing. If current trends persist, we can expect both house and apartment prices to maintain their gradual upward trajectory.
However, investors should monitor local economic conditions and potential policy changes that could impact interest rates or housing supply. Any significant changes could affect market dynamics and alter investment outcomes.
In conclusion, while current indicators point towards a growing market with potential benefits for investors, it remains crucial to stay informed about broader economic factors that may influence future performance.
