Bowden, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.0% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $320,000 |
| 3 bedrooms | $420,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,100 |
| Occupied Private Dwellings | 5,600 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Bowden, Alberta is currently experiencing a period of steady growth. The median house price stands at $485,000, reflecting a year-over-year increase of 4%. This indicates a healthy and stable market, with prices appreciating at a moderate pace. Similarly, the median apartment price is $295,000, which has seen a slightly lower growth rate at 2.5% year-over-year. These trends suggest that the market is attractive to both homeowners and investors looking for long-term value growth.
The population of Bowden has reached approximately 15,200 residents, with a robust population growth rate of 4.8%. This demographic expansion contributes to the increasing demand for housing in the region, thereby supporting the positive trajectory of property values.
Investment Opportunities and Potential
Bowden’s real estate market presents significant investment opportunities due to its consistent growth patterns. Houses here offer potential for capital gains given their steady price appreciation. Moreover, the robust population growth signals ongoing demand for rental properties, making buy-to-let investments particularly appealing.
Apartments in Bowden also represent an attractive investment opportunity with their more modest price point and solid year-over-year appreciation rate. Investors may find these assets to be more accessible while still offering favorable returns through both rental income and potential resale value.
The local economy and housing demand are expected to remain strong due to regional economic development initiatives and the town’s proximity to larger employment centers. These factors contribute to Bowden’s potential as a promising location for both residential property investment and development projects.
Future Market Outlook
Looking ahead, the outlook for Bowden’s real estate market remains positive. The consistent population growth will likely continue to drive housing demand, supporting both property values and rental market strength. With house prices showing sustainable increases over time, homeowners can expect continued appreciation in their property value.
The steady rise in apartment prices coupled with increasing rental demand suggests that multi-family units could become increasingly lucrative for investors. As infrastructure expands and the town develops further amenities, attractability as a living destination may increase further, thereby bolstering the real estate market even more.
In conclusion, based on current indicators such as housing trends and demographic shifts, Bowden’s real estate market appears poised for ongoing growth in both the short-term and long-term horizons.
