Donnelly, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $385,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $605,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,400 |
| Population Change | 5.6% |
| Total Private Dwellings | 6,100 |
| 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 exhibiting steady growth. With a median house price of $495,000 and an annual increase of 3.2%, the housing market is demonstrating resilience and stability. The median apartment price stands at $295,000, having experienced a 2.5% growth over the past year. This suggests that both segments of the market—houses and apartments—are appreciating at a modest pace.
The demographic trend indicated by a population growth rate of 5.6% is a positive sign for local real estate demand. This uptick in population suggests an expanding market with potential for increased demand in housing as new residents settle in the area.
Investment Opportunities and Potential
The consistent growth in property values presents attractive investment opportunities within Donnelly’s real estate market. Investors looking to capitalize on this growth may consider long-term investments in residential properties, given the steady appreciation rates for both houses and apartments.
Furthermore, the robust population increase could signal a future rise in rental demand, which bodes well for those interested in purchasing rental properties. The current trends suggest that investing in multifamily units might be particularly advantageous due to the relative affordability of apartments and their increasing value.
Future Market Outlook
Looking ahead, the future outlook for Donnelly’s real estate market remains optimistic. The combination of healthy price appreciation and significant population growth sets a solid foundation for continued expansion of the housing market. Assuming these trends persist, investors and homeowners alike can expect ongoing property value increases alongside rising rental prices.
Cautious optimism is advised due to external factors that could influence market conditions, such as economic shifts or changes in interest rates; however, current data points toward a promising horizon for Donnelly’s real estate landscape.
