Blackfoot, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.0% |
Quarterly trend | 2.8% |
Stock on market | 0.7% |
Apartment
Median price | $290,000 |
Monthly growth | 0.8% |
Quarterly trend | 1.9% |
Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $590,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $320,000 |
3 bedrooms | $400,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Blackfoot, Alberta currently presents a stable environment with consistent growth. With a median house price of $485,000 and a year-over-year increase of 2.8%, the market shows a healthy appreciation in property values. Similarly, the apartment sector has demonstrated resilience with a median price of $290,000 and an annual price trend climbing by 1.9%. This incremental growth aligns with the overall economic stability of the region.
The population of Blackfoot has been expanding at a rate of 3.3%, indicative of the town’s growing appeal as a residential area. This demographic dynamic is likely to sustain demand for housing, which could further underpin market stability and gradual appreciation in property values.
Investment Opportunities and Potential
Given the steady market trends, Blackfoot offers promising investment opportunities for both residential and rental properties. The consistent increase in population suggests that there will be ongoing demand for housing. Investors looking to acquire properties may find single-family homes particularly attractive due to their higher appreciation rate compared to apartments.
Additionally, rental properties are expected to benefit from the population growth as newcomers seek temporary accommodation before purchasing homes. With apartments experiencing a slightly lower appreciation rate, investors might consider this segment for more affordable entry points into the real estate market.
Future Market Outlook
The future outlook for Blackfoot’s real estate market is optimistic. The current growth trajectory is underpinned by robust population increases and economic factors that support both housing demand and property value appreciation. Barring unforeseen economic events or policy changes that affect the housing sector, Blackfoot’s real estate is poised for continued steady growth.
Moreover, as the population expands and diversifies, there may be opportunities for developments that cater to various segments of the market, including luxury and affordable housing projects. Investors and developers attuned to these trends could find lucrative niches within this burgeoning market.