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, currently shows resilient growth amidst a dynamic economic environment. With a median house price of $500,000 and an upward year-over-year trend of 3.5%, the market is experiencing steady appreciation. The median apartment price is comparatively lower at $300,000, with a slower yet positive annual growth rate of 2.1%. This data indicates a healthy demand for housing in the area, aligning with Balzac’s robust population increase of 7.1%, which brings the current population to approximately 15,000 residents.
Investment Opportunities and Potential
The ongoing uptrend in property values, coupled with substantial population growth, positions Balzac as an attractive locale for real estate investment. The consistent rise in house prices suggests that purchasing residential properties could yield considerable returns over time. Apartments, while experiencing a more modest price increase, present an opportunity for investors looking for more affordable entry points into the market or seeking rental income streams. With the population set to expand further, demand for both rental and owned properties is expected to persist, potentially leading to tighter inventory and higher prices.
Future Market Outlook
Looking ahead, Balzac’s real estate market appears poised for continued growth. The consistent rise in housing prices reflects strong market fundamentals likely to be sustained by the area’s burgeoning population and economic activity. If the current trends hold, investors can remain cautiously optimistic about the long-term appreciation of real estate assets in Balzac. However, as with any investment, potential changes in economic conditions, interest rates, and local developments should be monitored closely to manage risks effectively.
