Bankhead, 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 Bankhead, Alberta is currently experiencing a period of steady growth. With a median house price of $500,000 and an annual appreciation rate of 3.5%, the market is showing positive momentum. Similarly, the apartment sector is also on the rise, with a median price set at $300,000 and a year-over-year increase of 2.1%. The sustained growth in property values can be attributed to favorable economic conditions and the area’s growing appeal among homebuyers.
The population of Bankhead has grown by 7.1%, indicating a robust demographic expansion that could fuel housing demand. This influx may be driven by the town’s quality of life, employment opportunities, and other socio-economic factors that attract new residents.
Investment Opportunities and Potential
For investors considering Bankhead’s real estate market, there are several encouraging signs. The consistent rise in property values suggests that investments made today have the potential for capital gains over time. The housing market’s growth slightly outpaces that of apartments, which might indicate a higher demand for single-family homes or a preference towards more spacious living accommodations.
As the population continues to expand, there will likely be increased demand for rental properties. Investors looking to enter the rental market or expand their portfolio may find Bankhead an attractive option due to its growing population and limited housing supply.
Future Market Outlook
The future outlook for Bankhead’s real estate market remains positive. Assuming current trends persist, both housing prices and apartment values are expected to continue their upward trajectory. The strong population growth serves as a fundamental driver for ongoing demand, which could lead to further tightening of the market and potential for higher yields on investment properties.
However, investors should monitor local economic developments and potential policy changes that could impact the housing market. Factors such as interest rates, employment rates, and infrastructure projects can significantly influence market dynamics in both the short and long term.
