Kaybob, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $495,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.0% |
| Stock on market | 1.1% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $425,000 |
| 3 bedrooms | $495,000 |
| 4 bedrooms | $615,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| 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
As of the latest data available, Kaybob, Alberta’s real estate market is showing signs of steady growth. The median house price in the region stands at $495,000, which denotes a year-over-year increase of 3.2%. This increment is indicative of a healthy demand for detached homes in the area. Concurrently, the median apartment price has been recorded at $295,000, with a slightly lower year-over-year growth rate of 2%. Such modest growth suggests a stable market for apartments.
The population of Kaybob has experienced significant growth at a rate of 4.8%, which surpasses national averages and signals potential increased demand for housing in both the short and long term. This demographic trend is an important factor contributing to the current market conditions where demand seems to be on the rise, pushing property values upward.
Investment Opportunities and Potential
The consistent rise in property values within Kaybob presents attractive opportunities for real estate investors. The growth in median house prices suggests that purchasing residential property could yield considerable capital gains over time. Additionally, with a growing population and consequent demand for rental properties, investors might also explore acquiring apartments as long-term rental investments.
Given the lower rate of increase in apartment prices compared to houses, there may be an opportunity to enter the market at a more accessible price point with potential for appreciation. Investors should consider factors such as location within Kaybob, proximity to amenities and services, and future urban development plans when assessing the viability of investment properties.
Future Market Outlook
The future outlook for Kaybob’s real estate market appears promising based on current trends and demographic data. With population growth outpacing many other regions, it can be inferred that housing demand will continue to rise. Assuming that economic conditions remain favorable and no unforeseen events disrupt market dynamics, both house and apartment prices are likely to maintain their upward trajectory.
Investors should monitor local developments such as infrastructure projects, changes in employment rates, and any government policies affecting real estate to adjust their strategies accordingly. Nonetheless, if trends persist as they are currently observed, Kaybob’s real estate market may continue to offer desirable opportunities for both homeownership and investment well into the future.
