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 | $420,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $460,000 |
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 Hays, Alberta is currently demonstrating stable growth. With a median house price of $500,000, the market has seen an appreciable year-over-year increase of 3.5%. This steady climb indicates a healthy demand for single-family homes. Similarly, the median apartment price is set at $300,000, with a more modest yet positive year-over-year trend of 2.1%. The local population has reached approximately 15,000 residents, growing at a robust rate of 3.4%. This influx of residents suggests a burgeoning market and may signify a continued demand for housing in the area.
Investment Opportunities and Potential
The consistent growth in both property values and population signifies promising investment opportunities in Hays. For investors targeting long-term capital appreciation, the single-family home sector may be particularly attractive due to its higher annual price increase. Meanwhile, apartments offer a more accessible entry point into the market with their lower median price point and still-positive growth trend. The strong population growth rate underpins these investment opportunities as it is likely to drive ongoing demand for housing across various sectors, from rentals to owner-occupied properties.
Future Market Outlook
Looking ahead, Hays’ real estate market exhibits potential for sustained growth. The population expansion at 3.4% annually will likely continue to catalyze demand for housing. As such, both median house prices and apartment prices are expected to maintain their upward trajectory, albeit potentially at different paces. Investors should monitor economic drivers such as employment rates and infrastructure developments in the region as these factors could further influence the market’s performance. Overall, Hays presents itself as an appealing market with favourable conditions for both homeownership and real estate investment.
