Blackfoot, 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 | $340,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 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
1. Current Market Conditions and Trends
The real estate market in Blackfoot, Alberta, is currently experiencing a period of steady growth. The median house price in the area stands at $500,000, reflecting a year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, with prices growing at a moderate pace. Similarly, the median apartment price has seen an upward trend, with the current value at $300,000 and an appreciation rate of 2.1% over the past year.
The population of Blackfoot is approximately 15,000, and it has been growing at a robust rate of 7.1%. This notable population growth can be tied to the increasing demand for housing in the area and may serve as a driver for continued market expansion.
2. Investment Opportunities and Potential
The consistent increase in property values indicates a stable investment environment within Blackfoot’s real estate market. For investors looking to enter this market, single-family homes present a compelling opportunity given their higher growth rate compared to apartments. Long-term investments could capitalize on the steady climb in house prices that aligns with the region’s population growth.
Apartments offer a more affordable entry point into the real estate market for both investors and buyers alike. With an appreciation rate slightly below that of houses, apartments still present potential for capital gains while also offering possibilities for rental income given the expanding local population that may seek rental accommodations.
3. Future Market Outlook
The future outlook for Blackfoot’s real estate market appears promising. The ongoing population increase will likely continue to drive housing demand, potentially leading to further price appreciations across both houses and apartments. Assuming that economic conditions remain favorable and that new housing developments keep pace with demand, investors and homeowners can expect continued growth in their property values.
However, it is important for stakeholders to monitor local economic factors and development regulations as these could impact market dynamics. Vigilance towards such external influences will be key in making informed decisions within this evolving market landscape.
