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 (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 Hondo, Alberta is currently experiencing steady growth. The median house price in the area stands at $500,000, with a year-over-year increase of 3.5%. This trend indicates a healthy demand for houses, reflective of the growing economy and a robust housing market. Similarly, the median apartment price is $300,000, with a slower yet consistent growth rate of 2.1% compared to the previous year.
With a population of 15,000 that has expanded by 7.1%, Hondo’s demographic dynamics suggest an increasing demand for housing which is likely contributing to the positive price trends seen in both house and apartment sectors.
Investment Opportunities and Potential
Investors considering Hondo for real estate investments should take note of the area’s solid population growth rate, which at 7.1% is significantly higher than many other regions. This increase in population suggests a rising demand for rental properties, potentially yielding lucrative returns for rental income properties such as apartments and family homes.
The moderate but steady appreciation rates for both houses and apartments indicate that investments in Hondo could offer stable long-term capital gains. The current market conditions may be particularly attractive to investors looking to diversify their portfolios into markets with potential for consistent growth rather than speculative short-term gains.
Future Market Outlook
The future outlook of the Hondo real estate market appears optimistic. The persistent growth in population is expected to maintain or potentially increase the demand for housing. If economic conditions remain favorable and employment rates continue to rise within Hondo or in nearby economic centers, the real estate market may see sustained or improved growth rates.
The current trends suggest that both house and apartment prices are likely to continue their upward trajectory, albeit at measured rates that reflect stability rather than volatility. Investors and homebuyers alike can interpret these conditions as indicators of a healthy market environment conducive to long-term investment strategies.
