Demmitt, 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 Demmitt, Alberta has been exhibiting stable growth over the past year. The median house price currently stands at $500,000, which represents a year-over-year increase of 3.5%. This steady upward trend indicates a healthy demand for houses in the area.
In the apartment sector, the median price is somewhat lower at $300,000. However, it too has seen a positive change, with an annual growth rate of 2.1%. This suggests that while the market for apartments is growing, it is doing so at a more modest pace compared to houses.
The demographic dynamics of Demmitt are also worth noting. With a population of 15,000 and an impressive growth rate of 7.1%, the area is experiencing rapid expansion. This influx of residents is likely contributing to the increased housing demand and could be indicative of continued market health.
Investment Opportunities and Potential
The robust population increase and consistent appreciation in property values present notable opportunities for investors in Demmitt’s real estate market. The solid growth in median house prices reflects an enduring appeal for family homes and larger living spaces, potentially offering lucrative returns for those investing in residential properties.
The slower growth rate in apartment prices may appeal to investors seeking more affordable entry points into the real estate market or looking to capitalize on rental demand among those who prefer or need smaller accommodations. In addition, given the population boom, there may be a potential shortage of available housing in the future, which can provide investors with favorable rental yields and capital appreciation prospects.
Future Market Outlook
The future of Demmitt’s real estate market looks optimistic. Assuming the continuation of current trends—a steady increase in property values coupled with significant population growth—demand for housing is likely to remain strong. If economic conditions remain favorable and infrastructure development keeps pace with population growth, we can expect both the house and apartment markets to sustain their upward trajectories.
The key drivers behind this outlook include ongoing regional economic development initiatives, the attractiveness of Demmitt as a residential community, and demographic trends favoring suburbanization and space-seeking behavior post-pandemic. Therefore, both short-term investors looking for flips or renovations and long-term investors eyeing rental income streams should find advantageous conditions in this market.
In conclusion, based on current data and observable trends, Demmitt’s real estate market presents compelling opportunities for investment with expectations for continued growth in property values and sustained demand driven by population expansion.
