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
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.