Benalto, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| 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 | $400,000 |
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
In Benalto, Alberta, the real estate market is currently experiencing a stable year-over-year growth. With the median house price sitting at $485,000, there has been a moderate increase of 3.2% from the previous year. This trend suggests a healthy demand for housing in the area coupled with a balanced supply. The apartment sector shows a slightly lower growth rate, with the median apartment price reaching $290,000 and an annual appreciation trend of 1.9%. These figures indicate a steady but more modest increase in demand for multi-family units compared to single-family homes.
Investment Opportunities and Potential
The consistent growth in housing prices presents tangible investment opportunities within Benalto’s residential real estate market. Investors can benefit from the steady appreciation trend in both houses and apartments. Given that the single-family homes are appreciating at a faster rate than apartments, they may represent a higher potential for capital gains over the long term. However, apartments could be an attractive option for those looking to enter the market at a lower price point or seeking rental income properties, as they tend to be easier to manage and may offer higher rental yields due to their affordability.
Future Market Outlook
The future outlook of Benalto’s real estate market appears promising. With a healthy population growth of 3.3%, which is above the national average, there is likely to be continued demand for housing in the region. This demographic trend suggests that Benalto will experience sustained or potentially increased growth in both the housing and apartment sectors. Prospective investors and homeowners should remain optimistic about the long-term value appreciation of their real estate assets in Benalto.
