Benchlands, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $520,000 |
| Monthly growth | 1.3% |
| Quarterly trend | 4.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $320,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $520,000 |
| 4 bedrooms | $650,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $480,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
In Benchlands, Alberta, the real estate market is currently experiencing a steady growth in property values. The median house price stands at $520,000, which marks a 4% increase year-over-year. This consistent upward trend indicates a healthy demand for detached homes in the area. Concurrently, the median apartment price is at $320,000, following a slightly less aggressive yet positive trend with a 2.5% rise year-over-year. These numbers suggest that while the market for apartments is growing, houses are in higher demand and potentially offer better equity growth for homeowners.
Investment Opportunities and Potential
The Benchlands real estate market presents various opportunities for investors. The consistent growth in property values, coupled with a strong population increase of 3.3%, points to an expanding market with ongoing demand. For investors looking to purchase rental properties, the rising population—which currently stands at approximately 15,500 residents—may translate into greater rental demand, particularly for apartments which have shown a stable appreciation rate.
Given the current trends, investing in detached homes could also be promising due to their higher appreciation rate of 4%. This suggests potential for significant capital gains over the long term. Furthermore, as the area continues to grow and attract more residents, investment in commercial real estate could also be advantageous due to an anticipated increase in demand for services and retail spaces.
Future Market Outlook
The future outlook for Benchlands’ real estate market appears optimistic. The ongoing population growth is expected to sustain demand for housing and potentially push property values higher. If the current trends hold, we can anticipate continued moderate growth in property prices across both houses and apartments.
The local economy’s performance and any changes in interest rates will be key factors influencing the market moving forward. However, assuming no major economic disruptions occur, Benchlands’ real estate market should remain an attractive destination for both homebuyers and investors seeking stable growth opportunities within Alberta.
