Hays, 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 Hays, Alberta currently presents a picture of moderate growth and stability. The median house price in the area stands at $500,000, marking a steady year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes, likely driven by the region’s appealing amenities and lifestyle offerings, combined with economic factors that support home buying.
In the apartment sector, the median price is pegged at $300,000, with a slower yet positive year-over-year growth of 2.1%. This growth rate indicates a consistent demand for smaller, more affordable housing units, which may appeal to first-time homebuyers or those looking to downsize.
The population of Hays has reached approximately 15,000 residents, with an impressive population growth rate of 7.1%. Such demographic expansion is a key driver behind the demand for housing and can be viewed as a sign of economic vitality and future market sustainability.
Investment Opportunities and Potential
The current trajectory of market prices combined with substantial population growth offers promising investment opportunities in Hays. Long-term investors may find value in purchasing single-family homes due to their higher appreciation rate. The 3.5% annual increase in house prices potentially allows for respectable capital gains over time.
Apartments represent another investment avenue with a slightly lower entry price point and consistent growth trends. Investors targeting the rental market might find apartments particularly attractive due to their affordability for renters and the potential for rental income to cover mortgage payments while still benefiting from property appreciation.
The robust population growth not only fuels housing demand but also suggests future development potential. Investors might explore opportunities in new construction or renovation projects that can cater to the influx of new residents seeking modern and updated living spaces.
Future Market Outlook
Looking ahead, the real estate market in Hays appears poised for continued growth. Given the solid foundation of increasing property values and strong demographic trends, it is reasonable to project that both housing prices and demand will maintain an upward trajectory.
However, investors should remain cognizant of external economic factors that could impact interest rates and borrowing costs. Additionally, monitoring local employment rates and infrastructure developments will be crucial for assessing long-term market health.
In conclusion, Hays represents a real estate market with sound fundamentals highlighted by steady growth in property values and significant population increases. While individual investment decisions should always be made based on thorough analysis and consideration of personal risk tolerance, Hays offers compelling opportunities within the Canadian real estate landscape.
