Hondo, 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
In Hondo, Alberta, the real estate market continues to show healthy signs of growth and stability. The median house price in the area stands at $500,000, with a positive year-over-year increase of 3.5%. This indicates a steady appreciation in home values, suggesting that the market is attracting buyers and investors alike. Similarly, apartments are also experiencing a rise in value, with the median apartment price at $300,000 and a growth trend of 2.1% over the last year.
The population of Hondo is currently around 15,000 residents with a notable growth rate of 7.1%. This demographic expansion is contributing to increased housing demand, which underpins the robustness of both sales and price trends observed in the real estate sector.
Investment Opportunities and Potential
The consistent upward trajectory in housing prices coupled with significant population growth presents a compelling opportunity for real estate investment in Hondo. The market is ripe for both residential development projects and buy-to-let investments given the solid demand for housing.
The steady increase in property values suggests that early investments could yield substantial returns over time as the market continues to grow. Moreover, with apartment prices rising at a slightly lower rate than houses, there could be potential for investors to enter the market at a more accessible price point while still benefiting from the area’s overall property appreciation.
Future Market Outlook
The future real estate market outlook for Hondo appears optimistic. With ongoing population growth fueling demand, it is likely that both house and apartment prices will continue their upward trend. The current patterns suggest sustainable growth rather than a speculative bubble, making Hondo an attractive location for long-term investment.
In light of these factors, stakeholders such as developers, investors, and homebuyers can approach the Hondo real estate market with confidence. The key will be to monitor closely any changes in economic conditions or local policies that could influence market dynamics. However, based on current statistics and trends, Hondo’s real estate future looks promising.