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 (2024) | 15,000 |
| Previous Population (2019) | 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, is currently characterized by a steady increase in property values. The median house price in the area stands at $500,000, reflecting a year-over-year growth of 3.5%. This suggests a stable market with moderate appreciation rates that could be attractive to both homeowners and investors seeking long-term value retention or gradual growth.
In comparison, the median apartment price is $300,000, with a slightly lower year-over-year increase of 2.1%. This more modest growth rate may indicate that apartments are a more accessible entry point for first-time buyers or those with lower investment capital while still offering potential for appreciation.
Investment Opportunities and Potential
Bottrel’s real estate market presents various investment opportunities. Given the population of 15,000 and an impressive population growth rate of 7.1%, demand for housing is likely to increase. This demographic trend can lead to greater rental demand, particularly for apartments, which could drive both rental yields and property values upward over time.
Considering the consistent growth in house prices and the more significant population increase compared to national averages, investing in residential properties could offer favorable returns. Investors might also consider exploring new construction projects or renovation opportunities to cater to the growing community’s housing needs.
Future Market Outlook
The future outlook for Bottrel’s real estate market appears positive. Continued population growth at a rate significantly higher than many other regions suggests sustained demand for housing. If current trends persist, both housing and apartment markets should continue to experience steady appreciation, providing a secure environment for real estate investments.
However, potential investors and homebuyers should monitor local economic developments and any changes in migration patterns that could influence the market dynamics. Overall, Bottrel’s real estate prospects seem promising based on current data and demographic trends.
