Donnelly, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.8% |
Apartment
| Median price | $290,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Donnelly, Alberta is currently experiencing a period of steady growth. The median house price in the area is $485,000, which represents a year-over-year increase of 3.2%. Similarly, the median apartment price has risen to $290,000, marking a slightly lower annual growth rate of 2.5%. This consistent appreciation in property values indicates a healthy demand for housing in the region.
With a population of 15,500 and an above-average population growth of 3.3%, Donnelly is experiencing demographic trends that are likely contributing to the demand for housing. The influx of new residents may be due to economic opportunities or the attractive lifestyle offered by the area.
Investment Opportunities and Potential
The current trends in Donnelly’s real estate market suggest several potential investment opportunities. The consistent growth in property values implies that purchasing residential properties could yield positive returns through both rental income and capital appreciation. Investors may find particular interest in single-family homes, given their higher year-over-year price increase compared to apartments.
Moreover, with the ongoing population growth, there is potential for further development and investment in multi-family dwellings or apartment complexes to meet the rising demand for housing. Long-term investors could benefit from engaging in developments that cater to newcomers or looking into areas set for infrastructural improvements or commercial development.
Future Market Outlook
The future market outlook for Donnelly, Alberta appears optimistic. Given the current trends and underlying economic conditions, it is reasonable to anticipate that property prices will continue to rise at a steady pace. Population growth remains a driving force behind the demand for housing and supports a positive forecast for both rental and sales markets.
However, investors should remain mindful of broader economic factors such as interest rates, employment rates, and regional economic policies that could impact the real estate market’s trajectory. Maintaining vigilance on these elements will be crucial for making informed investment decisions moving forward.
