Trending
A red, white, and black flag with a white background.

Devon, 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 (2025) 15,000
Previous Population (2020) 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






Devon, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Devon, Alberta is currently experiencing moderate growth. With a median house price of $500,000 and a year-over-year increase of 3.5%, the market is showing signs of steady appreciation. Similarly, apartments are also appreciating but at a slightly lower rate, with a median price of $300,000 and a 2.1% year-over-year uptick. These trends suggest a balanced market that is growing consistently with inflation and economic conditions.

Investment Opportunities and Potential

Investors considering Devon as an opportunity for real estate investment should take note of the area’s population growth rate of 7.1%. This robust increase indicates potential for rental demand as more people move into the area. Detached houses offer solid value appreciation potential given their higher year-over-year price trend compared to apartments. However, apartments could present a more affordable entry point into the market or an opportunity for investors looking for lower maintenance properties.

Future Market Outlook

Looking forward, the Devon real estate market shows promise for continued steady growth. The consistent rise in property values coupled with strong population growth positions Devon as an attractive location for both residential buyers and real estate investors. If current trends continue, prospective buyers can expect a stable market with potential for ongoing property value increases and sustainable investment returns.