Denwood, 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 Denwood, Alberta is currently experiencing a steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is showing signs of healthy demand. Similarly, the apartment sector is also growing, albeit at a slower rate, with a median price of $300,000 and an annual appreciation rate of 2.1%. This growth coincides with a robust population increase of 7.1%, indicating that Denwood is becoming an increasingly popular place to live.
Investment Opportunities and Potential
Given the positive trends in both housing prices and population growth, Denwood presents promising investment opportunities. The consistent rise in property values suggests that purchasing real estate in this area can be a sound long-term investment. Additionally, the influx of new residents could drive demand for rental properties, making it an opportune time for investors to consider buy-to-rent options. With the current market dynamics, investors may find potential in flipping properties as well as developing or renovating existing ones to cater to the growing population.
Future Market Outlook
The future outlook for Denwood’s real estate market appears optimistic. The sustained increase in median house prices coupled with significant population growth suggests that demand for housing will continue to rise. If these trends persist, potential investors can expect continued property value appreciation. However, as with any investment decision, it is important to monitor economic indicators and local developments that could affect the market’s trajectory. Nonetheless, based on current data, Denwood’s real estate sector seems poised for ongoing growth.
