Bellevue, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| 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 | $330,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,300 |
| Previous Population (2019) | 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 Bellevue, Alberta is currently experiencing a stable growth pattern. The median house price stands at $485,000, which represents a 2.8% year-over-year increase. This incremental growth suggests that the market is healthy and appreciating at a sustainable rate. Similarly, the median apartment price has seen a rise to $295,000, following a 1.8% year-over-year growth trend.
The population of Bellevue has grown to 15,300 residents, with a population growth rate of 2%. This consistent increase in population is likely contributing to the demand for housing and supporting the gradual appreciation in property values.
Investment Opportunities and Potential
The steady growth in property values, combined with ongoing population increases, indicates that Belleville presents viable investment opportunities. Investors looking for long-term capital gains might consider the local housing market because of the town’s stable economic conditions.
Given that house prices are increasing at a slightly faster rate than apartment prices, single-family homes may offer more robust appreciation potential. However, apartments could be an attractive option for those aiming to tap into the rental market driven by individuals or small families seeking affordable housing options.
Future Market Outlook
The future outlook for Bellevue’s real estate market appears positive. Assuming that current economic conditions persist and the population continues to grow at a steady rate, we can expect ongoing demand for housing. This demand should support continued moderate price appreciation across both houses and apartments.
Local infrastructure development projects and economic initiatives could further bolster market growth. Nonetheless, potential investors and homeowners should remain vigilant to changes in interest rates, employment rates, and broader economic factors that can impact local real estate markets.
