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 increase in property values. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the market is demonstrating healthy growth. The median apartment price stands at $300,000, which has also seen a positive trend with a 2.1% increase year-over-year.
This progression in the housing market can be attributed to the robust population growth of 7.1%, increasing the demand for housing in the area. The strong demand is likely putting upward pressure on prices and reducing the length of time properties stay on the market before being sold.
Investment Opportunities and Potential
Investors looking into Denwood’s real estate market can find opportunities in both residential houses and apartments due to the consistent appreciation in property values. The steady growth rate suggests that investments made in this region would likely benefit from capital gains over time.
The significant population growth further indicates that rental properties could be a viable investment option, as there may be an influx of residents looking for housing before deciding to purchase their own homes. With the increase in property values outpacing the national inflation rate, real estate investments in Denwood are poised to offer favorable returns.
Future Market Outlook
The future outlook for Denwood’s real estate market remains positive. Given the current trends and population growth rates, it’s reasonable to expect that the demand for housing will continue to rise. This should sustain or possibly even accelerate current property value appreciation rates.
However, potential investors and homebuyers should consider economic factors such as employment rates, interest rates, and regional economic developments that could influence future market conditions. Keeping an eye on these indicators will be key to making informed decisions within this dynamic market.
