Hamlet, 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
Current Market Conditions and Trends
The real estate market in Hamlet, Alberta is currently experiencing steady growth. With a median house price of $500,000 and an upward trend of 3.5% year-over-year, the housing sector shows healthy demand and investment resilience. Similarly, the median apartment price stands at $300,000, with a growth trend of 2.1% year-over-year. These figures suggest a stable and cautiously optimistic market for both houses and apartments in the region.
Furthermore, the population of Hamlet has seen a robust increase of 7.1%, indicating a burgeoning community that is likely contributing to the sustained demand in the housing market. This demographic expansion could be a precursor to further economic development within the town, potentially leading to greater market activity in both residential and commercial real estate sectors.
Investment Opportunities and Potential
The consistent growth in property values coupled with significant population increase suggests robust investment opportunities in Hamlet. The current trends indicate that purchasing residential real estate could offer investors stable capital appreciation over time. Additionally, as the population grows and diversifies, there may be opportunities for developing or investing in multifamily units, which could cater to different segments of the market including young professionals, families, and downsizing seniors.
Investors might also consider exploring commercial real estate or mixed-use developments, as these could benefit from the expanding local economy. Given the trends, properties located near amenities such as schools, shopping centers, and public transportation are likely to be particularly appealing to both renters and buyers.
Future Market Outlook
Looking ahead, the future market outlook for Hamlet appears promising. The steady growth patterns provide a foundation for a positive projection over the next few years. Assuming that population growth continues at its current pace or accelerates due to local economic factors such as job creation or infrastructural improvements, we can anticipate sustained demand for housing.
However, potential investors should monitor key economic indicators and be mindful of regional developments that could impact property values. Factors such as interest rate changes, employment rates, and government housing policies will all play a role in shaping the future real estate landscape in Hamlet.
In conclusion, while current trends point towards a healthy real estate market with opportunities for investment, it is crucial to approach any potential ventures with diligence and an eye on broader economic signals that could influence market conditions moving forward.