Bluesky, 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 (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
Current Market Conditions and Trends
The real estate market in Bluesky, Alberta is currently experiencing a period of moderate growth. The median house price in the area is $500,000, which has seen an increase of 3.5% year-over-year. This indicates a steady upward trend in the residential property market, reflecting a healthy demand for homes in this region. Moreover, the median apartment price stands at $300,000, with a slightly lower growth rate of 2.1% year-over-year. This suggests that while apartments are also increasing in value, houses are in higher demand among local buyers and investors.
Investment Opportunities and Potential
Given the robust population growth of 7.1%, which is significantly higher than the national average, Bluesky presents various attractive investment opportunities. The consistent rise in property values coupled with population growth indicates a strong potential for rental demand, making the purchase of residential units for leasing purposes an appealing option for investors.
Furthermore, as more people seek to move into the area, there may be opportunities to develop new housing projects to meet the growing demand. Investors should also consider diversifying their portfolios by investing in both houses and apartments due to the differing growth rates and potential target markets for each housing type.
Future Market Outlook
The future market outlook for Bluesky, Alberta remains positive given current trends and demographic indicators. With a solid year-over-year growth in both house and apartment prices and significant population increases, it is reasonable to anticipate continued demand for housing in the region. However, investors should monitor key economic factors such as employment rates, interest rates, and regional economic development initiatives that could impact future market conditions.
Policymakers’ response to housing affordability and supply may also influence the market dynamics. Therefore, staying informed on local government decisions regarding zoning changes or incentives for developers can provide insights into future opportunities or challenges within the property market of Bluesky.