Balzac, 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 Balzac, Alberta is currently experiencing steady growth. With a median house price of $500,000, there has been an increase of 3.5% year-over-year. This suggests a healthy demand for housing in the area. Similarly, the median apartment price stands at $300,000, which has also seen a positive trend with a 2.1% increase year-over-year. These statistics are indicative of a consistent and stable market rather than one characterized by rapid fluctuations or volatility.
Investment Opportunities and Potential
The investment opportunities in Balzac are promising due to its growing population, which is reported to have increased by 7.1%. This significant population growth can drive demand for both rental and owner-occupied properties. The steady appreciation in property prices presents an attractive scenario for investors looking for capital gains in the medium to long term.
Additionally, the current market trends suggest that investing in apartments could be particularly advantageous for those seeking lower entry points into the real estate market with potential for rental income. With apartment prices increasing at a slightly slower pace than houses, investors may find these properties to be more accessible while still benefiting from overall market growth.
Future Market Outlook
Looking forward, the real estate market in Balzac seems poised for continued growth. The robust population increase is likely to sustain demand for housing, contributing to a positive outlook on property values. If the current trends continue, we can anticipate further gradual increases in housing prices across both segments of the market.
However, potential investors and homeowners should remain vigilant about regional economic factors and national policy changes that might affect the real estate landscape. Factors such as employment rates, infrastructure development, and interest rate adjustments play critical roles in shaping the future of local markets.
