Hylo, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $525,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 4.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $315,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $450,000 |
| 3 bedrooms | $525,000 |
| 4 bedrooms | $625,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2024) | 15,500 |
| Previous Population (2019) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| 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 steady growth. With a median house price of $525,000 and a year-over-year increase of 4.2%, the market is showing healthy appreciation. This trend is slightly above the national average, indicating strong local demand and a robust housing sector.
The apartment sector is also growing, albeit at a slower pace, with the median apartment price sitting at $315,000 and witnessing a 2.5% year-over-year increase. This suggests that while apartments are in demand, the market for them is less heated than for houses.
The population of Hylo has reached 15,500 with a growth rate of 3.3%. This population increase is contributing to the upward pressure on housing prices as new residents seek accommodation in the area.
Investment Opportunities and Potential
Given the current trends, Hylo presents several promising investment opportunities. The consistent growth in house prices suggests that purchasing residential property could yield substantial returns over time. Investors looking to capitalize on the lower end of the market might consider apartments as they offer an affordable entry point and are likely to benefit from increased rental demand due to population growth.
The steady population rise not only indicates a growing demand for housing but may also signal expansion in other sectors such as retail and services. Investors could look into commercial real estate or land development projects to tap into this ancillary growth potential.
Future Market Outlook
The future real estate market outlook for Hylo appears optimistic. If current trends hold and the population continues to grow at or above the current rate, demand for housing is expected to remain strong. This will likely sustain or even accelerate home price appreciation.
The local economy’s health and policies affecting real estate development will be important factors to watch for any changes in market dynamics. However, based on available data, Hylo’s real estate market looks poised for continued growth with attractive opportunities for both homeownership and investment purposes.
