Hughenden, 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
The real estate market in Hughenden, Alberta is currently experiencing steady growth. With a median house price of $500,000 that has increased by 3.5% year-over-year, the market demonstrates a healthy appreciation in property values. Similarly, the median apartment price stands at $300,000, showing a more modest yet consistent growth rate of 2.1% year-over-year. This positive trajectory is supported by Hughenden’s growing population which has surged by 7.1%, indicating a robust demand for housing in the area.
Investment Opportunities and Potential
Hughenden’s real estate market holds significant potential for investors. The continuous population growth coupled with rising property values suggests a strong rental demand and the possibility for capital gains over time. In particular, single-family homes with a median price point of half a million dollars present an attractive opportunity for long-term investment, given their higher year-over-year appreciation rate.
Apartments, while having a lower growth rate, still offer a valuable entry point for smaller investors or those looking for lower maintenance properties. The steady increase in apartment values indicates stability in the market, making them a potentially secure investment with moderate growth prospects.
Future Market Outlook
Looking ahead, the future market outlook for Hughenden appears promising. The impressive population growth rate bodes well for continued demand in residential properties. If the current trends persist, both the house and apartment sectors should maintain their upward trajectory in terms of pricing.
However, investors should also consider external economic factors such as interest rates, employment levels, and broader provincial economic trends that could influence future market conditions. Monitoring these will be crucial to making informed investment decisions in Hughenden’s dynamic real estate environment.
