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 (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 in Hughenden, Alberta
The real estate market in Hughenden, Alberta is currently experiencing a period of steady growth. With a median house price of $500,000, the market has seen a year-over-year increase of 3.5%. This suggests that properties in Hughenden are gradually appreciating in value, making it a stable environment for homeowners and investors alike. The median apartment price stands at $300,000 with a slightly lower growth rate of 2.1% year-over-year. This difference in growth rates indicates that while both segments of the housing market are advancing, standalone houses are becoming more valuable at a faster pace than apartments.
Investment Opportunities and Potential in Hughenden
Given the current trends, Hughenden offers promising investment opportunities, particularly in the housing sector. The steady appreciation of house prices reflects a healthy demand for property and could be an excellent opportunity for long-term capital gains. Investors looking to diversify their portfolio might consider the apartment market as well due to its positive albeit slower growth rate. The population of Hughenden has grown by 7.1%, which can potentially drive housing demand further. This demographic trend paired with rising property values suggests that investing now could yield significant returns as the market continues to expand.
Future Market Outlook for Hughenden
The future market outlook for Hughenden appears optimistic based on the available data. Factors such as continuous population growth (7.1%) suggest an increasing demand for housing which may continue to drive property values upward. If the current growth patterns persist or accelerate, both the house and apartment markets could experience further valuation increases. However, potential investors and homeowners should also consider external economic factors such as interest rates, employment rates, and regional economic developments which can influence future market conditions.
