Lacombe, 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 | $450,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $475,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,500 |
| Population Change | 3.4% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,700 |
| Population Density (per km²) | 6.0 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
As of the most recent data, the real estate market in Lacombe, Alberta, is experiencing stable growth. The median house price in this region stands at $500,000, having increased by 3.5% over the past year. This steady increase suggests a healthy demand for single-family homes, consistent with broader provincial trends.
The market for apartments also shows positive momentum, albeit at a slightly slower pace. The median apartment price is currently $300,000, marking a 2.1% rise year-over-year. This points to sustained interest in more affordable and potentially lower-maintenance living options within the city.
Lacombe’s population has been growing at a rate of 3.4%, a robust figure that may be contributing to the demand for housing across both segments of the market. The combination of population growth and upward trending property values indicates a competitive market with potential for continued price appreciation.
Investment Opportunities and Potential
Lacombe presents several attractive investment opportunities given its current real estate dynamics. Investors looking at long-term capital gains could find value in single-family homes due to the stronger year-over-year growth rate compared to apartments. The solid appreciation rate suggests that purchasing now could yield significant returns as the trend continues.
Conversely, apartments offer an entry point into the market at a lower price point with $300,000 as the median value. Although the appreciation rate is lower than houses, it provides an accessible option for investors seeking rental income or catering to individuals who prefer more affordable housing.
Given Lacombe’s growing population, there is potential for both rental demand and resale value to increase over time, making real estate investments particularly appealing in this area.
Future Market Outlook
Looking ahead, Lacombe’s real estate market appears poised for continued growth. With a significant population increase of 3.4%, there will likely be sustained demand for housing which can drive further price appreciation.
If current economic conditions remain favorable and demographic trends persist, we can expect ongoing investment potential across both houses and apartments. However, it is important for investors to consider economic diversification in the region and any policy changes that may impact the real estate sector.
Overall, while no market is without risk, Lacombe’s consistent performance coupled with optimistic population growth forecasts suggests that its real estate market may remain an attractive destination for investors and homebuyers alike in the foreseeable future.
