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Elmworth, 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





Elmworth, Alberta Real Estate Market Analysis

Current Market Conditions and Trends

The real estate market in Elmworth, Alberta, demonstrates moderate growth with the median house price sitting at $500,000, marking a year-over-year increase of 3.5%. This steady incline suggests a healthy demand for single-family homes and stability in the local housing market. Apartments also show a positive trend, albeit at a slower pace, with the median price of $300,000 and an annual appreciation of 2.1%. The trends indicate a balanced growth pattern that caters to both segments of the market – homeownership and rental investments.

Investment Opportunities and Potential

The investment landscape in Elmworth is promising due to its consistent population growth rate of 7.1%, which fuels housing demand. With house prices showing a steady upward trajectory, long-term capital gains are likely for investors purchasing residential properties. Apartments offer a relatively lower entry point for investors at $300,000 and could appeal to those looking to cater to renters or seeking more modest investment opportunities.

Additionally, the ongoing population increase suggests a prospective rise in rental demand, which may enhance rental yields over time. For those considering new construction or development projects, Elmworth’s burgeoning population and stable price trends provide an encouraging environment for such ventures.

Future Market Outlook

The future of Elmworth’s real estate market appears optimistic with current indicators pointing towards continued growth. The alignment of steady price increases with robust population expansion suggests that the demand for housing will persist. Assuming economic conditions remain favorable and the region continues to attract residents due to employment opportunities or lifestyle offerings, Elmworth’s real estate market is positioned for ongoing prosperity.

However, prospective buyers and investors should stay informed about regional economic developments and infrastructure projects that could impact property values. Monitoring interest rates and lending policies is also crucial as they directly influence buyers’ affordability levels and investment returns.