Enchant, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $505,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $505,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $330,000 |
| 3 bedrooms | $425,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends in Enchant, Alberta
In Enchant, Alberta, the real estate market is currently experiencing a period of steady growth. The median house price in this community stands at $505,000, reflecting a 3.8% increase year-over-year. This indicates a healthy demand for single-family homes and a competitive market environment that benefits sellers.
Similarly, the median apartment price has reached $295,000, showing a rise of 2.5% from the previous year. This consistent growth trend in apartment pricing suggests that smaller residential units are also becoming more valuable over time, appealing to different segments of the market such as first-time homebuyers or investors looking for rental properties.
The population of Enchant is 15,500 with a growth rate of 3.3%, which is above average and indicative of an influx of new residents. This increase in population is likely contributing to the demand for housing and supporting the upward pressure on property values.
Investment Opportunities and Potential
The current trends point towards Enchant being an attractive location for real estate investment. The steady appreciation in property values offers potential for capital gains over time. Investors may find particular opportunities in targeting residential properties like single-family homes due to their higher year-over-year price increase compared to apartments.
With the population growing at a healthy rate, there is also potential for investors interested in rental properties. An expanding population usually leads to increased demand for rental accommodation, potentially driving up rental yields for landlords.
Moreover, as prices are still relatively moderate compared to larger urban centres, entry into the Enchant real estate market could be more accessible for new investors or those looking to diversify their portfolios with properties in smaller communities.
Future Market Outlook
The future outlook for Enchant’s real estate market appears positive. With consistent population growth and increasing property values, it is expected that these trends will continue in the near term. Barring any unforeseen economic events or changes in local conditions, the market should maintain its trajectory of stable growth.
Further development plans and infrastructure investments could bolster this outlook by attracting more residents and businesses to the area. Prospective buyers and investors should keep a close eye on municipal plans that may impact future property values.
In conclusion, while no market can be entirely predicted, current indicators suggest that Enchant’s real estate market has strong foundations and potential for continued prosperity. Investors and homebuyers looking at Enchant will find opportunities underscored by positive trends but should always conduct thorough research or consult with a local expert before making significant financial decisions.
