Berwyn, 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 Berwyn, Alberta is currently experiencing healthy growth. The median house price stands at $500,000, reflecting a year-over-year increase of 3.5%. Similarly, the apartment market is also showing a positive trend with the median price at $300,000 and a growth rate of 2.1% over the same period. This consistent appreciation in property values suggests a stable and growing market.
The population of Berwyn has grown to 15,000 residents, with a significant growth rate of 7.1%. This rapid population increase is likely contributing to the demand for housing in the area, thereby supporting the upward trend in property prices and indicating a robust local economy.
Investment Opportunities and Potential
With the current trends, investment opportunities in Berwyn’s real estate market appear promising. The steady appreciation in housing prices provides potential for capital gains over time. Investors may be particularly interested in the housing sector where the higher year-over-year price increase presents an opportunity for greater returns.
The apartment sector, although growing at a slightly slower pace compared to houses, still offers potential for long-term investment given its 2.1% annual price increase. The continuous population growth could lead to increased rental demand, making multi-family properties an attractive option for investors seeking stable rental income streams.
Considering Berwyn’s ongoing development and economic growth prospects, strategic investments in both residential and commercial properties could yield favorable outcomes as infrastructure expands and new businesses establish themselves within the community.
Future Market Outlook
The future outlook for Berwyn’s real estate market looks optimistic. With a strong population growth rate of 7.1%, there is expected to be sustained demand for housing which should support continued property value appreciation. If current economic conditions persist and no major external shocks affect the local or national economy, both housing and apartment markets are likely to maintain their upward trends.
Investors and homeowners alike can be cautiously optimistic about entering or remaining in the Berwyn market. However, it remains crucial to monitor key economic indicators such as employment rates, interest rates, and regional economic developments which can influence market dynamics.
In conclusion, while past performance is not always indicative of future results, Berwyn’s current trajectory suggests that its real estate market possesses healthful vitality and potential for continued growth.
