Hylo, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.0% |
| Quarterly trend | 3.0% |
| Stock on market | 0.9% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $430,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2024) | 15,200 |
| Previous Population (2019) | 14,800 |
| Population Change | 2.7% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Hylo, Alberta is currently experiencing moderate growth. With a median house price of $495,000 and an upward year-over-year trend of 3%, the market is showing steady appreciation. Similarly, the apartment sector is also witnessing growth, with the median price at $295,000 and a 2.5% increase year-over-year. This growth is underpinned by a solid population increase of 2.7%, indicating a healthy demand for housing in the area.
Investment Opportunities and Potential
Investors considering Hylo’s real estate market have promising prospects due to the consistent growth in property values. The increasing population suggests a continual demand for housing, which may lead to favorable rental yields for investment properties. Moreover, the sustained price trends indicate that long-term capital gains are achievable for those investing in both residential houses and apartments. Given the current trajectory, strategic investments in this region could prove to be lucrative as demand for housing aligns with population growth.
Future Market Outlook
Looking ahead, Hylo’s real estate market appears poised for continued growth. The persistent rise in population serves as a strong indicator of future demand for housing. If the current trends hold, investors and homeowners could anticipate further increases in property values over the coming years. However, it is important to remain attentive to broader economic conditions and local developments that may impact the market dynamics. Overall, Hylo presents itself as an attractive market with stable growth potential for both residential living and real estate investment opportunities.
