Bodo, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 2.8% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.9% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $575,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| 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 Bodo, Alberta, is currently experiencing a period of moderate growth. The median house price in the region stands at $485,000, reflecting a year-over-year increase of 2.8%. This increment indicates a steady market that is growing at a sustainable pace. Similarly, the median apartment price has seen a smaller yet consistent rise to $295,000, marking a 1.9% year-over-year increase.
These figures suggest that the housing market in Bodo is appreciating, which may be partly due to the local population growth of 2.7%. As more people are drawn to the area, demand for housing increases, which can drive up property values over time. Additionally, with such population growth rates, there is likely an ongoing influx of new residents seeking accommodation, which could contribute to the sustained demand for both houses and apartments.
Investment Opportunities and Potential
Investors looking into the Bodo real estate market can find potential opportunities in both residential properties and rental units. Given the steady rise in property values and continuous population growth, purchasing property for long-term appreciation could prove fruitful. Moreover, rental properties may also offer viable returns due to an increasing need for housing driven by population growth.
The current trend in housing prices suggests that investments made today might benefit from continued appreciation in value. Furthermore, given that apartment prices are growing at a slightly slower rate than houses, investors might find more competitive pricing and potential for yield in this segment of the market.
Future Market Outlook
The future outlook for the real estate market in Bodo appears optimistic. The consistent population growth coupled with gradual increases in property values points towards ongoing stability and potential for further growth. If these trends persist, investors and homeowners alike can expect continued appreciation in their property investments.
However, it’s important to note that external economic factors could influence the trajectory of the real estate market. Investors should stay informed about local and national economic policies as well as broader market conditions to make well-informed decisions regarding their real estate investments in Bodo.
