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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




Hondo, Alberta Real Estate 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.