Hobbema, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $480,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 2.8% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.7% |
| Quarterly trend | 1.5% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $480,000 |
| 4 bedrooms | $580,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hobbema, Alberta has been showing moderate growth. With a median house price of $480,000, the market has experienced a year-over-year increase of 2.8%. This trend suggests a stable and gradually appreciating housing market. On the other hand, apartments are relatively more affordable with a median price of $295,000 and have seen a smaller growth rate of 1.5% over the same period.
Investment Opportunities and Potential
Given the positive growth trends in Hobbema’s real estate market, there is potential for investment opportunities. Single-family homes present as a solid investment with consistent appreciation. The slower growth rate in apartment prices could signal an opportunity for investors to enter the market at a lower cost basis while still benefiting from steady appreciation. The population growth rate of 3.3% also indicates an increasing demand for housing which may bolster real estate values further.
Future Market Outlook
The future outlook for Hobbema’s real estate market appears promising. Population growth is robust and is likely to fuel demand for housing. The steady rise in property values suggests that the market has room to grow without signs of overheating. If these trends continue, both the residential housing and apartment sectors are poised to offer sustained returns on investment over the coming years.
