Belmont, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Belmont, Alberta, is currently experiencing steady growth. The median house price stands at $500,000, with a year-over-year increase of 3.5%, which indicates a stable and growing housing market. Similarly, the median apartment price is $300,000, showing a slightly more modest year-over-year increase of 2.1%. These trends suggest that both segments of the housing market are appreciating at a sustainable rate.
Belmont’s population of 15,000 has seen a significant growth rate of 7.1%, suggesting an increasing demand for housing as more people choose to reside in the area. This population growth is likely contributing to the healthy real estate appreciation rates and could be indicative of a robust local economy and attractive living conditions driving inward migration.
Investment Opportunities and Potential
Considering Belmont’s positive population trajectory and consistent property value appreciation, there are several investment opportunities worth noting:
- Residential Properties: With houses appreciating at 3.5% per annum, investing in residential properties could yield considerable returns over time.
- Rental Market: The population growth suggests that there may be an increased demand for rental properties, making it an opportune time to invest in apartments or houses for rental purposes.
- Development Projects: Given the upward trend in both population and housing prices, there is potential for investors to engage in new construction developments to cater to the growing housing demand.
Future Market Outlook
The future outlook for Belmont’s real estate market appears promising. The steady increase in property values coupled with significant population growth positions Belmont as a potentially lucrative market for both short-term and long-term investments. If current trends persist, investors can expect continued appreciation in property values. Additionally, as the local economy adapts to accommodate the growing population, further development and diversification within the housing market could emerge.
However, it is important for investors to consider broader economic factors that may influence real estate markets such as interest rates, employment rates, and government policies related to housing and development. Keeping abreast of these factors will be crucial in making informed investment decisions moving forward.
