Hobbema, 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 (2024) | 15,000 |
| Previous Population (2019) | 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 Hobbema, Alberta, is currently exhibiting stable growth. The median house price stands at $500,000, reflecting a healthy year-over-year increase of 3.5%. This steady appreciation indicates a balanced market that is attractive to both buyers and sellers. Similarly, the apartment sector is showing a consistent upward trend with a current median price of $300,000 and an annual growth rate of 2.1%.
Hobbema’s population has reached 15,000 with an impressive growth rate of 7.1%. This demographic expansion suggests both an increasing demand for housing and economic vitality within the region. The concurrent rise in property values and population signals that the market is responding positively to the influx of new residents and potential buyers.
Investment Opportunities and Potential
With Hobbema’s ongoing population boom, investment opportunities are ripe, particularly in residential properties. The moderate but consistent appreciation in house prices presents investors with the potential for solid returns on investments via capital gains over time. Rental properties also offer promising prospects given the increasing number of residents seeking homes.
The apartment sector represents a compelling opportunity for those looking to enter the market at a lower price point. With its slower but steady price growth trend, investing in apartments might appeal to those prioritizing long-term rental income streams and lower volatility.
In addition to residential real estate, the rising population may also spur demand for commercial developments. Retail spaces, office buildings, and services-related properties could benefit from greater consumer spending and business needs as the local economy expands.
Future Market Outlook
The future market outlook for Hobbema’s real estate appears optimistic. The sustained population growth should continue to drive housing demand upward, potentially leading to further property value increases. If current trends persist, we can anticipate continued gradual appreciation in both housing and apartment sectors.
However, it is critical for investors to monitor local economic conditions and development plans closely as these factors will heavily influence future market dynamics. Infrastructure improvements or significant commercial projects could further enhance property values and investment opportunities in the area.
In conclusion, Hobbema presents itself as an attractive locale for real estate investment with its growing population and consistent property value appreciation. Stakeholders should remain vigilant regarding economic indicators to capitalize on this upward trajectory while navigating potential risks inherent in real estate ventures.
