Enchant, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $490,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.7% |
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 | $420,000 |
| 3 bedrooms | $490,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $430,000 |
Demographics
| Current Population (2024) | 15,000 |
| Previous Population (2019) | 14,500 |
| Population Change | 3.4% |
| 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 Enchant, Alberta is currently experiencing steady growth. With a median house price of $490,000 and an annual appreciation trend of 3%, the market remains healthy and indicates a stable investment environment. The median apartment price stands at $295,000, with a slightly lower year-over-year price increase of 2.5%. This suggests that while both segments of the housing market are growing, single-family homes are seeing a slightly higher demand.
Demonstrating robustness in the local economy, the population of Enchant has grown by 3.4% indicating a positive trend in demographic growth which can contribute to increased housing demand. This is particularly noteworthy as it may drive further expansion in the real estate market.
Investment Opportunities and Potential
Given the current market trends and population growth, there is potential for investment in both residential properties for resale or rental purposes. The steady appreciation in property values offers investors an opportunity for capital gains in the medium to long term. The rental market also presents potential due to the increasing population, which could lead to higher demand for rental units, potentially enhancing rental yields for investors.
Investors focusing on the apartment sector might find opportunities in anticipating future needs given that this segment’s prices are increasing at a slightly lower rate compared to houses. Affordable housing options could become particularly attractive as new residents look for economical living spaces.
Future Market Outlook
The future outlook for Enchant’s real estate market remains optimistic based on current trends and demographic indicators. If the population continues to grow at or above the current rate of 3.4%, it is likely that demand for housing will continue to rise correspondingly. Assuming no major economic disruptions occur, both sectors of the housing market (houses and apartments) should maintain their trajectories of modest appreciation.
Continued investment in local infrastructure and amenities by municipal authorities could further enhance property values over time. However, potential investors should also be mindful of broader economic factors that can influence interest rates and borrowing costs which would affect the real estate market dynamics.
In conclusion, Enchant appears to offer promising opportunities for real estate investment with its growing population and consistent property value appreciation trends. Prudent investors should keep an eye on economic indicators and regional developments while considering long-term strategies tailored to this market’s particularities.
