Benchlands, 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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
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) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Benchlands, Alberta is showing consistent growth as indicated by the year-over-year increase in property values. The median house price currently stands at $500,000, with an upward trend of 3.5% over the past year. Apartments are also experiencing growth but at a slightly slower pace, with a median price of $300,000 and an annual increase of 2.1%. This steady appreciation in property values suggests that the market is healthy and growing moderately.
Demand for housing in Benchlands is likely influenced by its increasing population, which has seen a significant growth rate of 7.1%. This demographic trend can contribute to a robust housing market as more individuals and families seek accommodation, driving demand for both purchase and rental properties.
Investment Opportunities and Potential
Benchlands presents several attractive investment opportunities due to its consistent market growth and demographic expansion. The rising median house price indicates that single-family homes are a solid investment with potential for capital gains. Investors may also look toward the apartment sector where a lower entry point of $300,000 and a growing trend of 2.1% suggest a more accessible yet stable investment opportunity with good potential for rental income.
Considering the population growth rate, there is potential for new developments and housing projects to satisfy the expanding market. Investors may find potential in buying undeveloped land or participating in new construction projects aimed at meeting the increasing demand for residential properties in Benchlands.
Future Market Outlook
The future outlook for Benchlands’ real estate market appears positive. The steady increase in property values coupled with robust population growth suggests ongoing demand for housing. As long as the local economy remains stable or improves, the real estate market should continue to benefit from these trends.
However, investors should remain aware of broader economic factors that could impact interest rates, employment levels, and overall affordability which could subsequently influence buyer activity and market dynamics. Close monitoring of regional economic indicators and staying informed about local developments will be key to understanding future trends in Benchlands’ real estate market.
