Bellis, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.8% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $610,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bellis, Alberta is currently exhibiting moderate growth. The median house price stands at $505,000, marking a 4% year-over-year increase which indicates a stable and moderately appreciating housing market. Meanwhile, the apartment sector is showing a slightly slower pace with a 2.5% year-over-year increase in the median apartment price, now at $295,000. This suggests a steady demand for more affordable housing options in the form of apartments.
The population of Bellis has grown to 15,500 residents, representing a notable 3.3% growth. This population increase contributes to housing demand and may be a driving factor behind the consistent appreciation in property values.
Investment Opportunities and Potential
Considering the above-market trends, investment opportunities in Bellis appear promising. The continuous growth in housing prices suggests that investing in residential properties could yield solid returns over time. The 4% increase in house prices reflects healthy demand, which is likely to support future property value appreciation.
Apartments represent an attractive investment opportunity as well, given their lower entry price point at $295,000 and a steady appreciation trend. Investors looking to cater to individuals or small families may find this segment particularly lucrative. Additionally, the rising population is expected to sustain rental demand, potentially leading to favorable rental yields for investors.
Future Market Outlook
The future outlook for Bellis’ real estate market appears positive. Population growth remains strong at 3.3%, suggesting that demand for housing will continue to rise. This demographic trend bodes well for both the sale and rental markets.
The ongoing appreciation of house and apartment prices indicates a balanced market with potential for sustained growth. Should current economic conditions persist, we can anticipate continued moderate price increases across both housing segments. However, prospective investors should remain vigilant of broader economic factors that could influence these trends, such as interest rates changes or shifts in employment patterns within the region.
