Etzikom, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.0% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 1.8% |
| 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 | $320,000 |
| 3 bedrooms | $410,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,500 |
| Population Change | 4.8% |
| 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 Etzikom, Alberta, is currently experiencing a period of moderate growth. The median house price stands at $485,000, with a year-over-year increase of 3%. This steady growth indicates a healthy market that is attracting interest without overheating. Similarly, the median apartment price has seen an increase to $295,000, growing at a slightly lower rate of 1.8% year-over-year.
The demand for housing in Etzikom is likely being driven by its increasing population, which has grown by 4.8% recently. A growing population typically leads to higher demand for housing, both for purchase and rental, which can have a positive effect on property values over time.
Investment Opportunities and Potential
Given the steady growth in property values and the rising population, Etzikom presents several attractive opportunities for real estate investors. The consistent increase in house prices suggests that investment in residential properties could yield solid returns as the market continues to grow.
Apartments are particularly appealing as an investment opportunity due to their lower entry price point at $295,000 and a respectable appreciation rate of 1.8%. Investors looking for long-term rental income may find apartments to be a prudent choice as the population increase may drive rental demand.
Furthermore, with a median house price significantly below the national average, there is potential for first-time homebuyers or those looking for more affordable housing options to enter the market. This could lead to a diversification of the local real estate portfolio and potentially spur further development projects.
Future Market Outlook
The future market outlook for Etzikom’s real estate seems optimistic given current trends and demographic shifts. Assuming that the local economy remains stable or improves, and factors such as employment rates and local infrastructure development continue on an upward trend, real estate values are likely to continue their gradual ascent.
An important consideration will be monitoring how well supply keeps pace with demand. Should the population continue to grow at or above current rates without corresponding increases in new construction, this could lead to a seller’s market where prices could rise more sharply due to competition among buyers.
In conclusion, while no market is without risk, Etzikom currently exhibits many characteristics of a healthy and growing real estate market with potential for continued appreciation in value. Investors and homebuyers alike should consider these trends carefully while also staying informed about local economic factors that could influence market conditions moving forward.
