Dapp, Alberta Real Estate Market Data
Updated: Nov 2024
House
Median price | $485,000 |
Monthly growth | 1.1% |
Quarterly trend | 4.0% |
Stock on market | 0.8% |
Apartment
Median price | $295,000 |
Monthly growth | 0.8% |
Quarterly trend | 2.5% |
Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
Bedrooms | Median Price |
---|---|
2 bedrooms | $420,000 |
3 bedrooms | $485,000 |
4 bedrooms | $590,000 |
Apartments
Bedrooms | Median Price |
---|---|
1 bedrooms | $240,000 |
2 bedrooms | $330,000 |
3 bedrooms | $420,000 |
Demographics
Current Population (2025) | 15,500 |
Previous Population (2020) | 15,000 |
Population Change | 3.3% |
Total Private Dwellings | 6,200 |
Occupied Private Dwellings | 5,700 |
Population Density (per km²) | 1.6 |
Land Area (km²) | 2,500.5 |
Market Analysis
1. Current Market Conditions and Trends
The real estate market in Dapp, Alberta is characterized by steady growth. The median house price is currently at $485,000, reflecting a year-over-year increase of 4%. This growth rate indicates a healthy market that is growing at a sustainable pace. Similarly, the median apartment price stands at $295,000, which has seen a slightly lower year-over-year increase of 2.5%. The difference in growth rates between houses and apartments may suggest a stronger demand for detached homes.
With a population of 15,500 and a growth rate of 3.33%, Dapp is experiencing an influx of residents, likely driven by its economic opportunities and lifestyle appeal. This demographic trend can contribute to sustained demand in the housing market.
2. Investment Opportunities and Potential
The ongoing population growth coupled with consistent property value appreciation presents a positive environment for real estate investment in Dapp. Detached homes, showing a higher appreciation rate, could be particularly attractive to investors looking for long-term capital gains. Apartments offer a more accessible entry point into the market and may appeal to investors seeking rental income opportunities due to their lower price point and stable appreciation.
The relatively high population growth rate suggests that there will be continued demand for housing, which bodes well for both rental and resale markets. Investors should also consider the potential for new developments, as the increasing population may lead to expanded infrastructure and community amenities, further enhancing property values.
3. Future Market Outlook
The future real estate market outlook for Dapp, Alberta remains optimistic. The consistent rise in property values indicates a robust market with potential for further growth. As long as the population continues to rise at its current rate or higher, the demand for housing will likely sustain the upward pressure on prices.
However, it is crucial for investors to monitor economic factors that could impact the market such as changes in employment rates, interest rates, and regional economic development projects which could influence both housing demand and affordability. Keeping an eye on these indicators will be essential for making informed investment decisions in Dapp’s dynamic real estate environment.