Bassano, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.9% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| 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 | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $415,000 |
Demographics
| Current Population (2025) | 15,300 |
| Previous Population (2020) | 15,000 |
| Population Change | 2.0% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bassano, Alberta is currently experiencing a period of moderate growth. With the median house price standing at $485,000 and exhibiting a year-over-year increase of 2.9%, the market shows steady appreciation in property values. Similarly, the median apartment price is at $295,000, which marks a slightly lower growth rate of 1.8% year-over-year. This suggests a more robust performance for houses in comparison to apartments.
The population of Bassano has reached approximately 15,300 residents, with a growth rate of 2%. This consistent influx of new residents indicates a healthy demand for housing and likely contributes to the stable increases in property values observed in recent years.
Investment Opportunities and Potential
The investment landscape in Bassano presents promising opportunities, especially for those looking to invest in single-family homes. Given the stronger growth rate in house prices compared to apartments, investors might find greater potential for capital gains in the detached housing segment. Furthermore, the ongoing population growth suggests a persistent demand for rental properties, making buy-to-let investments an attractive prospect for those seeking steady rental income streams.
However, with apartment prices also on an upward trend—albeit at a slower pace—investors keen on more affordable entry points or diversification may still consider this segment as a viable option. The current price trends point towards cautious optimism, indicating that investments made today have reasonable prospects for future growth.
Future Market Outlook
The future outlook of the Bassano real estate market appears positive. Population growth is likely to sustain housing demand, underpinning both rental and purchase markets. Assuming no major economic disruptions occur, property prices are expected to continue their upward trajectory at a conservative yet steady pace.
The alignment of local economic factors with broader provincial trends will play a crucial role in shaping the long-term health of the Bassano real estate market. Potential investors should monitor key indicators such as employment rates, infrastructure development projects, and immigration patterns to better understand the direction of market momentum over the coming years.
In summary, while no investment is without risk, Bassano’s real estate market holds appeal due to its steady growth patterns and ongoing demand driven by population increases. Prudent investors should take note of these conditions when considering their real estate strategies.
