Bottrel, 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 Bottrel, Alberta, currently presents a stable growth environment. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%, indicating consistent growth and a healthy demand for single-family homes. Similarly, the apartment sector also shows positive movement with a median price of $300,000 and a slightly lower growth rate of 2.1% year-over-year.
These statistics suggest that Bottrel is experiencing balanced market conditions that favor both buyers and sellers. The town’s population has grown by 7.1%, which is significantly higher than the national average. This population growth can be attributed to Bottrel’s attractive living conditions and could be a driving force behind the steady increase in property values.
Investment Opportunities and Potential
Given the current trends, investment opportunities in Bottrel are promising. The steady increase in property values coupled with the significant population growth suggests that there is ongoing and potentially increasing demand for housing. Investors looking for long-term capital appreciation may find single-family homes particularly appealing due to their higher growth rate.
Apartments also offer investment potential, especially for those seeking rental income properties. The population growth may lead to an increased demand for more affordable housing options such as apartments, which could result in favorable rental yields.
Moreover, the sustained growth pattern in Bottrel’s real estate market may attract developers and investors interested in new construction projects to cater to the burgeoning population.
Future Market Outlook
The future outlook for Bottrel’s real estate market appears optimistic. Considering the area’s strong population growth and consistent increases in property values, the market is likely to maintain its upward trajectory. Continued investment in infrastructure and local amenities will further solidify Bottrel’s appeal as a desirable location for both existing residents and newcomers.
However, as with any market forecast, it’s important to monitor economic factors that could influence consumer confidence and purchasing power. Factors such as employment rates, interest rates, and broader economic conditions within Alberta and Canada will play critical roles in shaping the future of Bottrel’s real estate landscape.
In summary, while current trends point towards a robust market with healthy growth potential, investors should remain informed on regional developments that could impact Bottrel’s real estate dynamics in the years to come.